Business
NAICOM Inaugurates C’ittee On Public Building Insurance Enforcement

The National Insurance Com
mission (NAICOM) has recently inaugurated a Technical Committee that would drive the enforcement of public building insurance in the country.
The committee was inaugurated by the NAICOM’s Commissioner for Insurance, Mr Mohammed Kari, in Abuja.
The Tide source reports that the technical committee is made up of representatives of NAICOM, the Federal Fire Service (FFS) from all the zones and the Nigeria Insurance Association (NIA).
The steering committee on the other hand is made up of the Commissioner for Insurance, the Controller-General of the Federal Fire Service and the Director-General of the NIA.
While the consumers are represented by the FFS, the NIA will supply the funds and NAICOM will be responsible for the disbursement of the funds.
Kari said that it was the responsibility of the committee to advise the steering committee on how public building funds would be effectively and efficiently be disbursed in the country.
Kari was represented by the Deputy Commissioner for Insurance, Technical, Mr Thomas Sunday.
He said that NAICOM, under the National Insurance Act 2003 had the responsibility of ensuring that public buildings and buildings under construction were insured.
“We have the responsibility for collecting of funds, monitoring and also disbursing the funds for the purpose of improving fire activities in Nigeria.
“0.25 per cent of premium collected with respect to public buildings are supposed to be accumulated in the fire funds.
“But over time, these funds have not been forthcoming because the process for collection are not put in place.
“Therefore, the NAICOM in the spirit of transparency and all inclusive administration has decided to bring in those who know more about fire service into this activity,’’ he said.
The commissioner said that fire service activities were abysmal in many states of the federation, which was not supposed to be so.
On disbursement, Kari explained that the steering committee planned on disbursing the funds for the purpose of training of staff of the fire service both at the federal and state levels.
He said that a portion of the funds would be used to upgrade the activities of the academy of the federal fire service and refurbish/repair fire fighting trucks and equipment.
He said that some of the funds would be used for the purchase of vehicles for inspection, investigation and also for the purpose of publicity.
The commissioner said that about N78 million had already been accumulated in the funds, adding that a template had been given to the market that would ensure proper enforcement for collection of more funds.
“The amount has a potential of multiplying itself and unlike what we had, we have set a template by which this collection will be appropriately and adequately remitted into the commission.
Business
Kenyan Runners Dominate Berlin Marathons
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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