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NAFDAC Gets Four COVID-19 Potential Remedy

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The Director-General of the National Agency for Food Drugs and Administration Control (NAFDAC), Prof. Mojisola Adeyeye has said her agency has received about four submissions as a potential cure for COVID-19.

The DG explained the submission was made after the agency called for expression of interest for the COVID-19 related medicines from researchers and practitioners.

The NAFDAC DG, who was a guest on a morning television show monitored on Tuesday by The Nation, said the four applications submitted would undergo due diligence.

The DG also said instead of spending huge sums of money to get the COVID organic from Madagascar, such monies should be spent on herbal remedies produced in Nigeria.

Giving an update on the number of applications received so far by the agency, she said: “I made a call for people to submit their application and I believe we have about three or four now and we are going to expedite the processing because it takes a while for us to go through the laboratory testing and what not but I have already given the directive to expedite.

“So, where we are right now is just to make sure that the information submitted is okay and by the end of the week, we may be sending these samples to the lab after we must have gone to inspect the site where the products are made because we don’t want a product that somebody will take and the person will start vomiting.

“So, we will go and inspect the site to make sure that whatever sample we are going to get must have been prepared in an environment that will not make the drug to compromise the health of the user.”

On the criteria that a remedy must meet before it is presented to NAFDAC as a possible cure or drug, she said: “If somebody says he or she has a remedy for COVID, first of all, we want to know the history of the plant or the family the plant belongs to, background information on the botanical characteristics of the plant, we will also want to know whether the plant has been used for anything before because sometimes, we use one plant for several diseases and the usage will be different for a particular disease.

“We will also ask for any written or published document about the plant because the plant may not come from Nigeria and it may be available in other climes. So, we want to ensure that we get enough information and once that application is submitted with the information, then we will start the process and part of the process involves inspecting where the medicinal product was prepared to be sure that it is not going to compromise the health of the people.

Commenting on the Madagascar COVID herbal mixture and the claim that Madagascar asked Nigeria to pay over €170,000 on a drug yet to be validated, she said: “I was made to understand that it has a plant called Artemisia and we have Artemisia in Nigeria which is an anti-malaria plant.

“I believe that it is better for us to spend the money in clinical trials on our own product than to spend that money on COVID Organics. That does not mean that we will not check the safety in NAFDAC. We will do all the due diligence because we do that anyway for any product that is submitted to us.

“We give two-year approval if everything is okay with that product and we will do that with COVID Organic but in terms of a clinical trial, it takes a longer time for a clinical trial because first; you have to have a hospital that its ethics board have to review the protocol that is submitted and once the hospital is okay with the clinical protocol, it has to come to NAFDAC, where we will do our own due diligence in terms of clinical protocol.

“So, it takes a while to get all these through and you have to also look for COVID patient and that is another logistics that may take time. So, that is why it is better for us to use that money to do our own local herbal medicine that may have the same effect.”

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NAICOM Partners UNDP To Scale Insurance Innovation, Climate Risk Resilience

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The Commissioner for Insurance, Mr. Olusegun Omosehin, received a delegation from the United Nations Development Programme (UNDP) on a courtesy visit to the National Insurance Commission (NAICOM), aimed at deepening collaboration and setting strategic priorities to expand insurance access, enhance market stability, and scale climate and disaster risk solutions across Nigeria.

Speaking during the visit, the UNDP Regional Specialist, Mr. David Mueller, expressed appreciation for the Commission’s leadership and reaffirmed UNDP’s commitment to supporting Nigeria’s insurance sector. He highlighted UNDP’s interest in scaling the Lagos Flood Risk Insurance Model, strengthening systemic capacity, including actuarial development and enabling insurers to mobilize domestic capital for sustainable investment.

The UNDP delegation also pledged continued support for the implementation of ongoing reforms in the Nigerian insurance industry, drawing on lessons learned from previous UNDP supported projects within the sector.

In his response, the Commissioner for Insurance welcomed the UNDP team and expressed gratitude for their sustained support to the Nigerian insurance industry. He outlined five strategic pillars underpinning NAICOM’s reform agenda and reiterated the Commission’s commitment to a transparent recapitalization process, fostering innovation, and creating an enabling environment to significantly enhance insurance penetration in Nigeria.

The Commissioner noted that the recently enacted Nigerian Insurance Industry Reform Act (NIIRA) 2025 provides a robust legal framework for strengthening consumer protection, enhancing regulatory capacity, improving financial soundness, promoting innovation and sustainability, and expanding market access and penetration.

He further explained that the ongoing industry recapitalization exercise, with the first phase scheduled to conclude on 31 July 2026, is designed to reinforce the financial stability and resilience of insurance institutions. To support operators, NAICOM has established dedicated support mechanisms, including a Recapitalization Committee, to guide the process.

The Commissioner also affirmed NAICOM’s commitment to institutionalizing Environmental, Social, and Governance (ESG) principles and sustainable insurance practices through the development of an in house NAICOM ESG Framework, building on prior diagnostic work and toolkits developed in collaboration with partners such as FSD Africa and UNDP.

Both parties agreed on the urgent need to rapidly scale actuarial capacity across the insurance industry through coordinated systemic capacity building initiatives, including the GAIN programme and strategic partnerships with actuarial service providers.
The meeting further explored options to revive and advance a national catastrophic insurance scheme, to be implemented collaboratively by NAICOM, UNDP, and relevant disaster management agencies, including the National Emergency Management Agency (NEMA).

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NIA To Honour Past Governing Council Members

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The Nigerian Insurers Association (NIA) has announced plans to honour its past governing council members and director general, in recognition of their invaluable contributions to the growth and development of the association.

This initiative underscores the association’s deep appreciation for the visionary leadership, dedication, and selfless service of those who have steered the affairs of the NIA over the years. Their efforts have laid a solid
foundation for the association’s achievements and strengthened its role as the collective voice of the insurance industry.

The event is scheduled to take place on April 30 in Lagos, under the theme, “Service as the Cornerstone of Leadership and Institutional Legacy.”

Speaking on the significance of the initiative, the Chairman of the NIA, Mr. Kunle Ahmed, noted that honouring past governing council members and director generals is not only a mark of respect, but also a way of preserving the association’s rich legacy.

He said that their guidance and commitment have been instrumental in shaping policies, fostering industry collaboration, and promoting public confidence in insurance as a tool for national development.

Ahmed emphasised that the structures laid down by the past leaders, the values they upheld, and the sacrifices they made continue to resonate in the association’s present achievements.

He said: “Institutions are built over time, but their true strength lies in the people who devote themselves in service.

“This event is our way of pausing to honour those whose leadership and sacrifices created the pathway we now walk. Their legacy is not confined to history—it lives on in every milestone we celebrate today.”

The NIA Chairman further stated that by celebrating the association’s past leaders, the NIA preserves its history, reinforces its values, and set a clear benchmark for future leadership.

According to him, the progress the association enjoy today is firmly anchored in the foresight and dedication of its past leaders.

“Without question, they remain the bedrock of the NIA’s enduring relevance and success, he said.”

The ceremony will bring together industry stakeholders, regulators, and partners to celebrate these distinguished leaders and reaffirm the Association’s commitment to excellence, innovation, and sustainable growth.

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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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