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Fayemi Assures On Promises To Pay Gratuity

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As part of steps taken by the Ekiti State government to gradually defray the backlog of gratuity owed the retirees, no fewer than 52 pensioners were given cheques worth several millions of naira as gratuities on Thursday.

The State Governor, Dr Kayode Fayemi who handed out the cheques in Ado- Ekiti, restated the commitment of his administration to bringing succour to the State workforce and pensioners by prioritizing their welfare in spite of the dwindling resources accrued to the State.
The Governor who was represented by his Chief of Staff, Hon. Biodun Omoleye said the commitment of his administration to the welfare of pensioners is evident in the increase in the fund earmarked monthly for the defraying gratuity from #10 million to #100 million in order to accommodate more beneficiaries.
The 52 beneficiaries of the cheques were retirees from local government and primary schools.
Governor Fayemi explained that the exercise would have come earlier if not for the advent of the global Covid-19 pandemic that affected the socio-economic activities.
While reiterating that his administration would not renege on the promises made to Ekiti people, Fayemi assured the pensioners that the exercise would be a continuous process, as the government is concerned about the general well being of its citizens.
The Governor said: “It is common knowledge that we inherited backlog arrears of unpaid entitlements from the past administration. However, we are conscious of the fact that government is a continuum. Therefore, we are facing the challenge of offsetting the arrears headlong against all odds.
” The present administration is not oblivious of the hardship, pains, and challenges being faced by our senior citizens, as a result of the backlog of unpaid benefits in the past. We have therefore resolved to face the challenge and make our people happier. By the grace of God, despite the little resources available to the State, our administration will continue to bring relief to the entire workforce and the retirees”, he said.
While allaying the fears of those who are yet to get their entitlements, the Governor assured that the monthly payment of gratuities would be based on “first to retire, first to be paid” as the government would not give room for favoritism in order to preserve the sanctity and sanity of the exercise.
Dr Fayemi who expressed the possibility of increasing the monthly funds for the payment of gratuities when the financial capacity of the State increases, urged those who have not got their gratuities to keep faith with his administration.
He urged the beneficiaries of the distributed cheques to make judicious use of the money.
“For the umpteenth time, I want to allay the fear of those pensioners that are yet to collect their own gratuities not to be disturbed. By God’s grace, you will use your hands to collect yours very soon. I promised that our payment on first to retire, first to be paid would be maintained. This method would be sustained for the sanctity and sanity of the exercise devoid of favoritism. I urge the beneficiaries of this exercise to plan with the money and prudently utilize it for a blissful retirement”, Fayemi said.

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Business

Heirs Insurance Partners United Capital On Self-care, Wealth Event

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Heirs Insurance Group and United Capital Plc, recently hosted the Yoga and Money Meet Up, an exclusive wellness and financial empowerment event for ambitious women.
The event, which held in Lagos, offered a curated experience combining guided yoga and stress management sessions with expert-led conversations on insurance, investment and asset protection. The event reinforced Heirs Insurance Group’s and United Capital’s commitment to making financial wellness relevant and accessible to Nigerian women.
Speaking on the initiative, Ifesinachi Okoli-Okpagu, Chief Marketing Officer at Heirs Insurance Group, underscored the strong link between insurance and wellness. “Self-care is not just about indulgence; it is about making deliberate choices that safeguard one’s physical, mental, and financial well-being – and insurance is fundamental to that. For many women juggling careers, businesses, and family, this event addresses a significant pain-point: how we protect our assets while still juggling life”.
She introduced HerMotor insurance plan, designed for ambitious women who need more than just insurance. The unique product offers comprehensive motor coverage against accidents, fire, theft, and other unforeseen incidents that cause loss to the policyholder’s car. An added benefit is the 24/7 emergency roadside assistance for female car owners during car breakdowns arising from accidents or mechanical faults. The first-of-its-kind solution in the industry is delivered in partnership with AA Rescue, and includes a robust reward programme, where customers can access discounts from spas, wellness programmes, and more.
Dr. Odiri Oginni, Managing Director, United Capital Asset Management, added that the collaboration reflects a shared commitment to women’s empowerment. “Empowerment is at the core of what we do, and co-creating on an initiative that directly addresses the financial realities facing Nigerian women further emphasises this. We recognise that financial independence and personal wellness are deeply interconnected, and by creating opportunities that bring both together, we are reinforcing our commitment to empowering women to confidently pursue and achieve their dreams. This vision informed the creation of our Wealth for Women Fund, which provides women with a secure and accessible avenue to invest smartly and build long-term financial security.”
The Yoga and Money Meet Up reflects a joint vision to empower Nigerian women through financial education and protection.
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
United Capital Plc is a leading Pan-African financial and investment services group providing bespoke, value-added solutions to governments, corporations, and individuals across Africa. With operations in Nigeria, Ghana, and Côte d’Ivoire, and a growing pan-African footprint, the Group leverages technology, specialist expertise, and retail-led platforms such as InvestNow to deliver cutting-edge financial solutions. United Capital has been recognised by the Financial Times as one of Africa’s fastest-growing companies for three consecutive years.

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Business

PenOp Elects Onuoha As President, Appoints Okoro As CEO

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By Sola Alabadan

The Pension Fund Operators Association of Nigeria (PenOp) has elected Mr. Donald Onuoha as its new President and the Chairman of its Executive Committee.
Donald Onuoha is currently the Managing Director/Chief Executive Officer, Fidelity Pension Managers Limited.
He was elected by members of the Association to lead its Executive Committee and provide strategic direction for the pension industry.
Members of the newly constituted Executive Committee are: Blessing Ogwu, MD/CEO, UBA Pensions Custodian Limited as Vice President & Vice Chairman, Benjamin Okorie-Agidi, MD/CEO, TotalEnergies EP Nigeria CPFA Limited as Treasurer, Ehis Uzenabor, MD/CEO, Shell Nigeria CPFA Limited as Member & Chairman, Technical Committee, Aliyu Atiku, MD/CEO, NUPEMCO as Member & Chairman, Legal, Regulatory & Ethics Committee, and Adeola Oyegbade, MD/CEO, GT Pension Managers Limited as Member & Chairman, Branding & Communications Committee.
In his acceptance, Onuoha thanked members for the confidence reposed in him, stating that he would continue to uphold the ideals of the pension industry while prioritising the interests of Retirement Savings Account (RSA) holders.
He added that he would work to deepen pension penetration, strengthen stakeholder engagement, and ensure the industry continues to contribute meaningfully to Nigeria’s economic development.
He also pledged to work closely with the Executive Committee and other stakeholders to sustain industry progress and drive initiatives that enhance transparency, trust, and efficiency across the pension ecosystem.
Meanwhile, PenOp has also appointed Anthonia Ifeanyi Okoro as Chief Executive Officer of the association effective 30th March 2026.
She succeeds Oguche Agudah who led the organisation for 6 years with dedication and impact.
Speaking on the development, the Chief Executive Officer of PenOp, Anthonia Ifeanyi-Okoro, said the emergence of the new leadership reflects the Association’s strong governance framework and commitment to continuity.
She noted that the smooth transition underscores the unity among operators and their shared objective of ensuring that the pension system delivers sustainable value to all Nigerians.
PenOp is the umbrella body for all licensed Pension Fund Administrators in Nigeria and remains committed to promoting a robust, transparent, and inclusive pension industry.
Anthonia brings to the role a wealth of cross-sector experience spanning both the public and private sectors, with deep expertise in strategy execution, sectorial and organisational transformation, and large-scale programme delivery. She has a proven track record of leading and embedding multi-organisational portfolios, driving growth, alignment, efficiency, and performance across diverse stakeholder groups.
Over the course of her career, she has successfully executed complex projects, programmes, portfolios and change management initiatives valued at up to £5 billion, working with the UK Government and the City of London. Her ability to navigate complex systems and deliver measurable outcomes at scale with diverse and influential stakeholders, are critical to the evolving needs of the Nigerian Pension Industry and critical to the strategic role PenOp plays.
In addition to her executive experience, Anthonia has served as a Director and Governor on the boards of several charities in the United Kingdom, demonstrating her strong commitment to governance, transformation, social impact, and sustainable development.

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Daily Economy To Unveil New Insurance Book Today

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Daily Economy Concept, the Publisher of Daily Economy, a multimedia platform, has announced plans to celebrate its second anniversary with the official launch of a landmark book titled “Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons.”

The event is scheduled to hold today in Lagos and is expected to bring together key stakeholders from across Nigeria’s insurance and financial sectors.

The occasion will feature prominent personalities in the insurance and financial services industry. The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, will be the Chief Keynote Speaker and Chief Presenter of the book.

The Chairman of the Occasion is the Chairman of Prestige Insurance Brokers Limited, Prince (Dr.) Feyisayo Soyewo, while the Special Guest of Honour is the Group Managing Director/CEO of the African Reinsurance Corporation, Dr. Corneille Karekezi.

Other distinguished guests expected at the event include the President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori; Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed; and President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers, Mrs. Ekeoma Ezeibe.

The book, written by Nike Popoola, a multiple award-winning journalist and Editor of Daily Economy, provides a comprehensive account of the transformation of Nigeria’s insurance industry over the past two decades. It documents major reforms, regulatory developments, recapitalisation efforts, and the contributions of notable industry leaders.

Speaking ahead of the launch, Popoola said the publication was inspired by the need to document the industry’s evolution and preserve its institutional memory.

“This book is the product of extensive research and years of covering the insurance sector. It tells the story of how the industry has evolved from a relatively underdeveloped sector into one that is increasingly relevant to Nigeria’s economy. Importantly, it highlights the people whose contributions have shaped this transformation,” she said.

Also speaking on the significance of the event, the Publisher of Daily Economy noted that the anniversary and book launch represent a major milestone for the organisation.

“As a publication committed to deepening financial literacy and industry knowledge, we are proud to present this book as a contribution to the insurance ecosystem. It is not just a celebration of our journey over the past two years, but also a platform to spotlight the growth and potential of Nigeria’s insurance industry,” the Publisher said.

The publication offers rich insights for industry professionals, policymakers, researchers, and students, while also featuring photographic documentation of key events that have shaped the industry over the last 20 years.

The event will provide a unique platform for knowledge sharing, networking, and reflection on the future of insurance in Nigeria.

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