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Expert Seeks Insurance Sector Growth

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An insurance broker, Mr Angus Uzoamaka, yesterday in Port Harcourt said that growth in the insurance sector would impact positively on the management of the inflation rate.

Uzoamaka said that an expansive insurance industry would guarantee security of lives and property and in turn instigate wide-spread prosperity.

“When people take insurance policies and pay their premiums, they will begin to appreciate the value of our naira more.

“Paying premium on one’s properties or life has a way of regulating taste or acquisition of material things.

“Efficient insurance sector helps to control how a man owns cars or houses,’’ Uzoamaka said.

He said ignorance and lack of experience by brokers were to blame for the low level of insurance penetration in Nigeria.

The broker said that more education was needed to popularise insurance at the grassroots.

Uzoamaka also said that the economic hardship was discouraging people from patronising insurance companies.

He said that growth in any sector of the economy was dependent on accountability and stewardship of professionals.

Uzoamaka said that billions of naira had been lost because Nigerians neglected the importance of insurance in fighting corruption.

“We can reduce crime rate through what I call ‘insurance security‘, which entails insurance professionals acting as policemen that arrest fraudulent persons,“ he said.

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‘Women Exclusion From Digital World Costs $1trn Worldwide’

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The exclusion of women in the digital world has resulted in a whooping loss of $1trillion in the economies of developing nations in the last decade.
Chairman of the “MMS Hall of Famers’ Initiative”, Amb. Dr. Unyime-Ivy King, stated this during part of events to commemorate the 2024 “International Women’s Day” in Lagos State.
Making a presentation as Chairman of the occasion, with the theme, “Inspire Inclusion of Amazons”, Amb. King said the loss will increase by 50 percent in 2025 if nothing is done in this regard.
According to her, “Beside economic benefits, enhancing women’s safety and equal access to digital technologies, she noted that women-to-women support ranks as the greatest catalyst in achieving gender balancing.
Urging women over the world to reject the primitive customs that confines them to the kitchen, she said, “When we inspire others to understand and value women’s inclusion, we forge a better world. And, when women themselves are inspired to be included, there’s a sense of belonging, relevance and empowerment. Today, we are here to applaud them.
“One of our struggles is the sparse number of women in positions of power. From corporate boardrooms, to the courts and political leadership around the world, the small percentage of women in senior positions continues to stymie progress on issues from pay to humanitarian aid to discrimination in all its forms.
“The sooner we understand that the small number of women in leadership roles holds back not only women, but all people, the sooner we will be able to advance society as a whole”.
She emphasized that “the biggest challenge facing women today is patriarchy. This is especially evident in the realm of politics. Regardless of a woman’s experience, education or abilities, the patriarchal nature of the society fosters the perception that women are less qualified and less competent than men.
“What patriarchy has done is convince people that a strong and intelligent woman represents a problem; a disruption to the social order rather than an integral part of it. It is, therefore, no coincidence that many countries are completely out of step when it comes to electing a woman as President”.
Speaking further, she noted that Africa is notorious for creating the greatest challenge to the emancipation of women, especially in political leadership, saying that the era where women were confined to the background as domestic and family caretakers was over.
“While women have maintained the highest office of leadership in Liberia, India, the United Kingdom, Croatia, Dominica, to mention a few, the same cannot be said in Africa or globally. I believe the time has come for more women to get into top leadership positions in this country in various sectors”, she said.
She applauded women that have been selected to be inducted into the MMS Plus Hall of Famers, and urged them to be the torchbearer of gender balancing and empowerment.
Earlier, the Chief Executive Officer (CEO), MMS Woman of Furtune Hall of Fame Initiative, Mr. Kingsley Anaroke, said the theme of this year’s IWD is “Inspire Inclusion”, saying it’s “a muse that has provided another moment of sober reflection on the struggles over decades on gender diversity and request for the elimination of the inhibitive streams of bias and stereotypes.
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NCDMB, SON Maintain Lead In Business Efficiency Ranking

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The Nigerian Content Development and Monitoring Board (NCDMB) and Standards Organisation of Nigeria (SON) have maintained lead in the efficiency and transparency compliance ranking scale released by the Presidential Enabling Business Environment Council (PEBEC).
In a report released on Monday, both agencies and the Corporate Affairs Commission (CAC) emerged as the overall top-performing agencies among all the Ministries, Departments, and Agencies of the Federal Government in Nigeria, which are ranked on the basis of transparency and efficiency compliance, assessing their ability to provide, cost-effective, timely and customer-friendly services.
NCDMB and SON were ranked first and second respectively in terms of efficiency and transparency, making it the second straight year SON has clinched this award.
Analysis of the PEBEC Business Facilitation Performance Results, which covered January – December 2023, showed that NCDMB scored 70.07 percent, SON scored 69.5 percent, CAC had 65.12 percent, Federal Competition and Consumer Protection Commission, (FCCPC), 65.04 percent, and Nigerian Export-Import Bank, NEXIM, 63.51 percent.
According to PEBEC, the high-performing MDAs demonstrated commendable performance in both efficiency and transparency through diligent adherence to their Service Level Agreements (SLAs) during the year under review.
In acknowledging this recognition by PEBEC, the Director General/Chief Executive, Dr. Ifeanyi Chukwunonso Okeke, credits this accomplishment to the hardworking and diligent staff of the SON, noting that the recognition is a testimony of SON’s unwavering commitment to business and trade facilitation in the country in line with the Federal Government’s resolve to create an enabling environment for businesses to thrive.

 

Nkpemenyie Mcdominic,
Lagos
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Eazipay  Offers Zero-Interest Loans To  150,000 SMEs, Employees

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With a mission to ignite growth, encourage business continuity and help businesses and employees thrive, Eazipay is gearing up to propel the dreams of 150,000 SMEs and employees to new heights through her relief fund.
Gone are the days of financial constraints and stifled dreams. With Eazipay’s support, SMEs and employees alike can bid farewell to limitations and embrace a world of endless possibilities.
Whether it’s start up,  business expansion or personal development, Eazipay is here to make dreams come true.
The mind-blowing initiative, which  kicked off this month, would end in December, and will also offer a range of perks and benefits designed to put a smile on the faces of SMEs and employees alike.
From exclusive discounts to various advisory services and beyond, Eazipay is committed to spreading happiness and creating lasting impact in people’s lives and to the growth of businesses.
The technology company which offers products and services that range from payroll management to IT/Device management and assessments, “Eazipay isn’t just providing financial support but also unleashing a wave of growth and prosperity for SMEs and employees across the nation.
“Interested businesses and individuals can take part in this initiative directly from the Eazipay website: www.myeazipay.com”.

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