2018 National Budget: Nigeria’s Federal Government Plans Group Life Insurance For 89,000 Workers

The federal government of Nigeria has made budgetary provision to the tune of N5.4 billion as 2018 Group Life Insurance cover for its 89,000 workforce, in the 2018 national budget currently before the National Assembly (NASS). To this end, all Federal government workers who die or suffer accidents while in active service will have access… Continue reading 2018 National Budget: Nigeria’s Federal Government Plans Group Life Insurance For 89,000 Workers

Nigeria’s National Insurance Commission to sack chief executives over unpaid claims

Nigeria’s National Insurance Commission (NAICOM) has revealed plans to work on statutory deposits of insurance firms to settle unpaid claims, while chief executives of companies whose deposits are applied to such would be discharged from official duty. Nigeria’s Commissioner for Insurance, Mohammed Kari, disclosed this at the ongoing Chartered Insurance Institute of Nigeria (CIIN) 2017… Continue reading Nigeria’s National Insurance Commission to sack chief executives over unpaid claims

Nigeria’s Central Bank Governor warns banks to guard against Key – man risk.

  Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele on tuesday identified key-man risk in the banking sector as a huge challenge, just as he advised financial institutions to guard against it. Mr Emefiele pointed out that while appreciable momentum had been attained in corporate governance practices in the Nigerian Banking industry, the regulators… Continue reading Nigeria’s Central Bank Governor warns banks to guard against Key – man risk.