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NIA Urges Stakeholders To Support Governments To Wage War Against COVID-19

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As the coronavirus disease continues to ravage the world, the Nigerian Insurers Association (NIA) has enjoined all stakeholders to support the government so that the nation can defeat the disease which has led to the death of over 200,000 people across the globe.

The director general of NIA, Mrs. Yeteunde Ilori, made this call while presenting the life insurance policy document: ‘COVID-19 Intervention Team Life Insurance Cover’ to the Honourable Minister of Finance, Budget and National Planning. Mrs. Zainab Shamsuna Ahmed in Abuja. She urged members of the public to support the government and observe all the safety protocols.

The Nigerian insurance industry through the intervention provided a whopping cover of N11 billion being the sum assured for Insurance Cover for front line health workers in the battle against COVID-19.

The cover which is being provided by the Insurance industry comprising all Insurance, Reinsurance and Broking companies, will cover Doctors, Pharmacists, Nurses and other ancillary personnel and volunteers in the frontline of the battle against the Virus.

Under the cover announced by the Presidential Task Force on COVID-19, the industry is providing Life Insurance for a maximum of 5000 frontline health workers engaged bythe Nigerian Centre for Disease Control across the thirty six (36) states of the Federation and the Federal Capital Territory, Abuja.

This is in fulfillment of the pledge made to the Federal Government by insurance industry leaders as part of the industry’s contribution to the battle against coronavirus disease.

The premium of N112.5 million which is for one year coverage (12months) has been duly paid in line with the extant law on Insurance contracts especially as it relates to No Premium No Cover.

The life insurance policy document: COVID-19 Intervention Team Life Insurance Cover detailing the extent of cover and benefits payable under the policy was earlier submitted to the Honourable Minister of Finance, Budget and National Planning. Mrs. Zainab Shamsuna Ahmed by the Acting Commissioner for Insurance, Sunday Thomas and formally handed over to the Chairman, Presidential Task Force on COVID-19, by a member of Governing Council of Nigerian Insurers Association (NIA) Mrs. Folashade Joseph and President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Mrs. Bola Onigbogi under the watch of the Honourable Minister.

Speaking on the insurance coverage, Mrs. Ilori said, it is part of the insurance industry support to the Federal Government as the battle against COVID-19 continues..

“This is part of the insurance industry support to the Federal Government as the search for a solution continues. There are other initiatives at the state level and the main idea is that the industry must join other stakeholders in this battle.

“We thank the Federal government for its faith in the Nigerian insurance market as exemplified by its wholehearted acceptance of the policy and to restate our support for other initiatives that will boost the morale of those in the frontline in the fight against this dreaded virus” she added.

Speaking further, she stated that although the insurance programme is the initiative of the insurance industry which also funded premium payment for same, the industry is ever willing to contribute its quota towards the search for a solution to the disease and wish all stakeholders well as the search continues.

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Business

SanlamAllianz Organises Roadshow To Deepen Insurance Awareness

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By Sola Alabadan

SanlamAllianz, formed from the merger of Allianz and Sanlam, will begin 12-city nationwide roadshow on June 23, following the brand’s recent official introduction to the Nigerian market.
The campaign, which will take place in Lagos, Ibadan, Akure, Warri, Port Harcourt, Uyo, Onitsha, Enugu, Owerri, Kano, Jos, and Abuja, is part of the company’s strategic effort to deepen customer engagement, and raise awareness about the brand and insurance.
It is also intended to demonstrate the company’s commitment to making wealth creation and financial protection capabilities more accessible to individuals and businesses in the country.
Speaking on this initiative, Tunde Mimiko, MD/CEO of SanlamAllianz Life Insurance, said: “This nationwide campaign signals the scale of our ambition and the depth of our commitment to the Nigerian market. At the heart of insurance is trust, and trust begins with presence. Reaching customers where they are is fundamental to how we are building SanlamAllianz.
“This roadshow is a strategic move to bridge the gap between perception and reality, allowing us to engage directly with our customers and Nigerians in general, challenge long-held misconceptions, and position insurance as a practical tool for thriving in financial confidence, building resilience and long-term financial security.”
As part of the roadshow, SanlamAllianz will hold customer engagement forums in each of the 12 cities. The in-person sessions allow customers to interact directly with the company’s leadership and frontline teams. The forums aim to reconnect with customers under the unified brand and reaffirm its long-term commitment to the local market.
“Insurance only becomes relevant when it is understood, trusted, and connected to the realities people face,” said Yomi Onifade, MD/CEO of SanlamAllianz General Insurance.
“These forums are our way of reintroducing SanlamAllianz not just as a merged entity, but as a unified brand committed to showing up for Nigerians. We are creating a platform for real conversations — to listen, address concerns, and deepen understanding. This is how SanlamAllianz intends to lead, by listening actively, showing up with solutions, and shaping a future where insurance is truly embedded in the fabric of everyday Nigerian life,” he added.
By adopting a city-by-city physical rollout, SanlamAllianz Nigeria is positioning itself as one of the few players actively investing in deeper grassroots engagement toward deepening insurance penetration in Nigeria.

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Business

NAICOM, OHCSF Move To Ensure Workers Benefit From Group Life Assurance

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By Sola Alabadan

In order to equip civil servants with knowledge and tools to effectively manage and benefit from the Group Life Assurance Policy, the National Insurance Commission (NAICOM) and the Office of the Head of the Civil Service of the Federation (OHCSF) recently organised a capacity-building workshop on the compulsory insurance policy in Abuja.

Section 9(3) of the Pension Reform Act 2014 mandates employers to maintain a Group Life Assurance policy for their employees, with a benefit of at least three times the employee’s annual total emolument.

The workshop brought together stakeholders from government ministries, departments, and agencies to enhance understanding and implementation of the policy.

In her opening remarks, Mrs. Didi Esther Walson-Jack, Head of the Civil Service of the Federation, represented by Mrs. Oyekunle Patience, emphasised the importance of insurance in safeguarding public servants’ welfare and ensuring financial security for their families. She commended President Bola Tinubu for renewing the annuity policy and applauded NAICOM for initiating the training.

The Commissioner for Insurance, Mr. Olusegun Omosehin, represented by Mr. Ekerete Ola Gam-Ikon, Deputy Commissioner for Finance and Administration, expressed appreciation for the collaboration and assured participants of NAICOM’s commitment to transparency and accountability in policy implementation.

The workshop aimed to equip civil servants with knowledge and tools to effectively manage and benefit from the Group Life Assurance Policy, a critical component of the Federal Government’s welfare package.
The event marked a significant step in strengthening life insurance policy implementation across the federal civil service, reinforcing the government’s dedication to employee well-being.

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PenCom Mandates Newspaper Owners To Pay N720m Pension Debt

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The Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has raised alarm over widespread non-compliance with the Pension Reform Act (PRA) 2014 by media organisations in Nigeria, revealing that newspaper owners owe journalists over N720 million unpaid pension contributions.
Speaking during a courtesy visit to the President of the Newspaper Proprietors’ Association of Nigeria (NPAN), Mr. Kabiru Yusuf, in Abuja recently , Ms. Oloworaran described the findings as “very troubling” and called for urgent collaboration between PenCom and newspaper proprietors to enforce compliance across the sector.
PenCom acknowledged the deep value of the role of the media in shaping public discourse, and said it is disheartening that many organisations within the media are failing to meet a fundamental obligation to their employees.
The Director General said PRA 2014 mandates all employers to remit pension contributions for their employees monthly, within seven days of salary payment.
However, she said PenCom’s investigations show that many newspaper houses have ignored this obligation, with arrears totalling over N720 milliiaon.
Ms. Oloworaran informed NPAN that PenCom is not seeking to penalise erring organisations at this stage, but prefers a collaborative approach to achieving sector-wide compliance.
She added that PenCom has been engaging employers across industries and recently held discussions with the Nigerian Press Council (NPC) to drive awareness and compliance in newspaper organisations,.
While noting the overall poor compliance within the industry, the DG singled out Daily Trust for commendation, describing the paper as a “leading example” for consistently meeting its pension obligations since 2015.
Responding, NPAN President, Kabiru Yusuf, acknowledged the pension compliance issues in newspaper organisations in Nigeria, but urged PenCom to understand the dire financial situation of the media industry.
NPAN President said the reality is that many newspapers in Nigeria are struggling to even pay staff salaries, let alone pension contributions, adding that only a few are managing to stay afloat, and even among them, there is often reluctance to part with money for statutory payments like tax and pensions.
He welcomed PenCom’s engagement efforts and proposed a broader industry dialogue through the Nigerian Press Organisation (NPO), a coalition that includes NPAN, the Nigerian Guild of Editors (NGE), and the Nigeria Union of Journalists (NUJ). Yusuf suggested that PenCom participate in an expanded meeting of stakeholders in Lagos this year, where the challenges of compliance and potential solutions can be jointly addressed.
Ms. Oloworaran agreed to the proposal, expressing hope that such a forum would serve as a meaningful step toward sustainable pension reform compliance in the media.
“We are not focused on being punitive because the law allows us to sanction. That is not what we are looking at. I believe we can work together to get all these media houses to make the necessary contributions towards the financial security of their workers,” the DG said.
The meeting marked a renewed effort by PenCom to hold employers in the media sector accountable and compliant with the PRA 2014.

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