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FG Wants Efficiency In Insurance Sector

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16 years ago

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The federal government has inaugurated a new Board of the National Insurance Commission (NAICOM).

In his speech presented at the inauguration, the Hon. Minister of State for Finance, Mr Aderemi Babalola expressed his pleasure with the caliber of personalities appointed into the Board.

He stated that the members have been meticulously and carefully selected based on their past performance and contributions, not only to the insurance industry but also towards the overall growth and development of the country.

“It is, therefore, my sincere hope that the Board will not only live up to the expectations of Nigerians in the performance of its statutory roles but surpass them,” he said.

According to Babalola NAICOM, the apex regulatory body for the insurance industry in Nigeria is governed by the Insurance Act 2003.

He added that the supervision and regulation of the insurance industry in Nigeria is closely monitored and streamlined by the commission to ensure a healthy environment. NAICOM’s actions, therefore are expected to be driven by corporate creativity, transparency, security, efficiency, market integrity, and enhanced stakeholder returns.

The minister, however, called for more pragmatic and innovative approaches to issues militating against the full realisation of the objectives of the commission such as poor underwriting practice, excessive risk appetite lack of integrity, lack of autonomy and inappropriate pressure for short-term returns.

Major tasks ahead of the new board are, to manage and supervise the affairs of the commission, to recommend to the minister, from time to time, the rates of contribution to be made by insurance institutions to the funs of the commission, to do such other things and enter into such transactions which in its opinion are necessary to ensure the efficient performance of its functions under the Act or any other enactment etc.

Members of the Baord of NAICOM are Hajiya Inna Maryam Ciroma, Chairman, Senator Collins Ndu, Mr Oluwatayo Boye, Alhaji Aminu Ahmed. Yapcco, Mr Fola Daniel, Commissioner for Insurnce, Mallam Mohammed Hussein, Deputy Commissioner for Insurance (Technical), the Deputy Commissioner for Insurance (Finance and Accounts). Mr Lexy Omoha, Director Home Finance, Representative of the Central Bank of Nigeria and Mr Adegboyega Adepegba, Director-General Chartered Institute of Insurance of Nigeria.

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Kenyan Runners Dominate Berlin Marathons

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2 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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2 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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2 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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