Nigeria’s Federal Government, through its National Insurance Commission (NAICOM), plans to introduce a new classification policy in the Insurance industry, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Muhammad Kari, has said. Kari stated this at an executive breakfast meeting organised by the Society for Corporate Governance Nigeria, in Lagos, Nigeria on… Continue reading Nigeria’s Federal Government to introduce new classification for insurance firms in Nigeria.
THE Nigerian Federal Government is targeting banks and insurance companies to finance the national shipping carrier, following the withdrawal of a Singaporean liner, Pacific International Lines (PIL), from the initiative. The Singaporean shipping company, with over a hundred ships in its fleet world-wide, had said that it would not be able to cope with the… Continue reading Nigeria’s Federal Government targets insurance firms, others to fund national shipping fleet.
Following recent verification exercises, Nigeria’s Federal Government has commenced the rapid payment of pensions to verified pensioners. This is very heartwarming news.
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A total of 42,851 relatives of deceased workers under Nigeria’s Contributory Pension Scheme (CPS) have been paid pension and insurance benefits from the commencement of the CPS till September 2017.Figures obtained from the National Pension Commission (PenCom) on approval of death benefits revealed that the deceased workers were from the private, state and federal sectors.… Continue reading Deceased workers’ relatives received N129bn pension, insurance settlements — Nigerian National Pension Commission.
Farmers in Nigeria will henceforth have good access to insurance coverage as the National Insurance Commission (NAICOM), is championing the course of a specialised and inclusive agric insurance scheme tagged Index based agric insurance(IBAI). The IBAI is an innovative and specialised insurance scheme that pays out benefits on the basis of a predetermined index (e.g.… Continue reading Index Based Insurance Scheme Kicks Off in Nigeria Soon
Nigeria’s National Health Insurance Scheme (NHIS) has been in operation for over ten years but it seems to have failed in the realization of the objectives for which it was established. Key among its failures is the non-realization of the objective of making health care available to Nigerians at affordable costs. As at today, many… Continue reading Failures of Nigeria’s Health Insurance Scheme: the way forward
Nigeria’s National Insurance Commission, NAICOM, yesterday unveiled the revised guidelines for micro-insurance operations, which stipulates N600 million minimum capital base for national micro-insurance license. The Commission defined micro-insurance as ‘insurance developed for low income populations, low valued policies, micro and small scale enterprises provided by licensed institutions, run in accordance with generally accepted insurance principles,… Continue reading Nigeria’s National Insurance Commission sets N600m capital base for national micro-insurance licence.