By Favour Nnabugwu Eleven insurance companies have indemnified the Nigerian National Petroleum Corporation, NNPC, group’s life insurance for N2.4 billion with a cover period that commenced in April this year to March 31, 2017, Vanguard investigation can reveal. The sum assured for the NNPC group’s life scheme for 2016/2017 stands […]
Insurance
Multiple taxation cripples growth in insurance, says expert
By Bankole Orimisan The government’s multiple taxes have directly and indirectly stunted business development in Nigeria, just as the Companies’ Income Tax (CITA) Act 2007, is further crippling performance in the insurance sector. CITA imposes minimum tax on companies where they have no taxable profits or taxable profits resulting in […]
Why some insurers are not paying dividends – NAICOM
From left: Director Finance and Accounts, National Insurance Commission, Nicholas Opara; Commissioner for Insurance, Mohammed Kari and Director Administration and Human Resources Directorate, Adamu Balanti at the event. Leave a comment and share Chuks Udo Okonta Shareholders of listed insurance companies may have to wait longer to get dividend, as […]
Chairman of insurance firm returns N66m looted fund
From left: Commissioner for Insurance, Mohammed Kari and Director Administration and Human Resources Directorate, NAICOM, Adamu Balanti at the event. Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) campaign against corruption, seems to be yielding positive results as a chairman of an insurance company has […]
Gombe State demands for NAICOM office
From left: Kari and Iliya at the event. Leave a comment and share Chuks Udo Okonta Gombe State Government has called on the National Insurance Commission (NAICOM) to establish its branch in the state in order to bring insurance closer to the people. The Deputy Governor Charles Iliya, made the […]
Caution in investing pension fund in stock market always pays back
THE MINISTRY OF HUMAN RESOURCES AND SOCIAL SECURITY said on Tuesday it will initiate investing some of the national pension fund in the stock market. This concerns people’s livelihoods and social stability, so the management of the important fund must be prudent and be aware of the risks, commented Beijing […]
NAICOM woos Gombe State on domestication of insurance laws
From left: Kari and Deputy Governor Charles Iliya at the event. Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has appealed to Gombe State Government to incept the process of domesticating compulsory insurance laws. The Commissioner for Insurance Mohammed Kari, made the appeal today during […]
Barclays bank takes £600m hit over insurance mis-sell
Agence France Presse British bank Barclays Thursday said it had set aside an extra £600 million ($733 million, 672 million euros) to compensate customers mis-sold insurance, a day after rival Lloyds gave a similar update. Barclays said the additional funds needed to cover costs linked to the long-running payment protection […]
Insurance consumers demand improved services
Participants at the event. Leave a comment and share Chuks Udo Okonta Insurance consumers have called on underwriting firms in the country to improve on their service delivery and relationship in order to deepen insurance penetration. Insurance policyholders, who spoke at the 2016 Insurance Consumers Forum organised by Almond Production […]
Buying Nigeria made goods ‘ll grow insurance – NCRIB
Leave a comment and share Chuks Udo Okonta The President, Nigerian Council of Registered Insurance Brokers (NCRIB) Kayode Okunoren, has urged government at all levels to promote insurance by giving greater impetus to the patronage of made in Nigeria goods. Okunoren, while applauding the ongoing efforts of government to revive […]
