Business
Insurance Firms Partner Banks On Sale Of Products
Experts at the capital market have identified prospects on strategies adopted by insurance companies to use bank sales channels for the promotion and sales of their products.
This they said it would lead to increase in the insurance sector turnover and profitability.
Mr. David O. Adefolaju a broker with Resort Securities & Trust Limited said that it is a good leverage for the insurance sector to capitalise on the banking network nationwide as it will give them adequate exposure to reach the grassroots of the society to buy into insurance policy.
He citied an example of Niger Insurance which has a partnership with Afribank Nigeria Plc with a network of over 350 branches.
Speaking on the development, an operator pointed out that it is a good omen for the insurance companies, adding that awareness would be created through the marketing strategy and also confidence which had been eroded in the Insurance sector would be restored.
He noted that the recent Mou which allows the banks to partner with Insurance companies would bring customers confidence into the Insurance sub-sector.
The National Chairman of Progressive shareholders Association of Nigeria, Mr. Boniface E. Okezie stated that most of the Insurance companies are subsidiaries of banks, stating that the best platform for insurance to market their products is the banking networks all over. The country and abroad.
He said the banks should ensure that their customers are being channeled to their Insurance subsidiaries. “I don’t see why law Union & Rock Insurance Plc is performing below expectation having Sky bank as its parent body,” he said.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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