The Managing Director of Sovereign Trust Insurance Plc, Olaotan Soyinka has called on Nigerians to be cautious and safety-conscious during this period of the ‘ember’ months so as to safeguard lives and properties.

Olaotan stated that the possession of insurance policies should not be a reason for carelessness by holders of such policies.
He said “while it is generally known that accidents are common during the ‘ember’ months as a result of increased activities during the period with people rushing to meet up with their goals as the year rounds up, it is advisable that even in the midst of such activities, we should still exercise caution so that we do not get involved in unnecessary mishaps that could have been averted.”

Soyinka added that “while it is not in dispute that insurance helps to mitigate against risks, it should not be taken as a license to throw caution to the wind and be careless.”
He cautioned that rather, insurance should be seen as a respite in case of the unforeseen and inevitable.

It is widely known that cases of motor crashes, fire outbreaks and other perils are usually on the increase during the last months of the year, hence the need for caution to be exercised by all and sundry so as to prevent such misfortunes.

Sovereign Trust, a company listed on the Nigerian Stock Exchange commenced business on Jan 2, 1995 and has a network of offices spread across major commercial cities in the country. The company’s expertise is tailored towards non-life insurance products that include Motor Insurance, Fire and Property Insurance, Consequential Loss, All Risks, Houseowners/Householders’ Insurance, Burglary/Housebreaking, Professional Indemnity, Marine and Aviation Insurance, Personal Accident, Fidelity Guarantee, Cash-In-Transit, Products Liability, Machinery Breakdown, Contractor’s All Risk, Hulls and Passengers, Oil and Gas and a host of other policies under the stable of the organization.

The Underwriting Firm drives its operations with top-notch technology with great emphasis on human capital development and career advancement for members of its staff.

Leadway Pensure PFA, a Pension Fund Administrator in Nigeria, proudly celebrates its 20th anniversary.
Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.
Speaking on this remarkable achievement, Olusakin Labeodan, MD/CEO, Leadway Pensure PFA, stated: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation. From the very beginning, our mission has been very clear, to deliver a pension system without barriers. Over two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a presence nationwide, a robust mobile platform and the AI-powered assistant LISA, we have placed pension services within the reach of eligible Nigerians.
We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds,” he added.
Looking ahead, the company is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey. “The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.
As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria. With a clear vision for the future, the firm remains dedicated to being the trusted partner in providing financial wellness for generations to come.

The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have directed insurance companies and their vendors to fully comply with Nigeria’s pension and insurance laws.
The new directive, contained in a joint circular signed by Abdulrahaman Muhammad Saleem, Director of Surveillance Department at PenCom, and Dr. Talmiz Usman, Director of Legal, Enforcement and Market Development at NAICOM, seeks to strengthen compliance with the Pension Reform Act (PRA) 2014 and the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The circular focus on compliance with the Contributory Pension Scheme (CPS) and the requirement for all employers to maintain Group Life Assurance (GLA) coverage for their employees.
Under Section 2 of the PRA 2014, every employer in the public and private sectors must participate in the CPS, remit pension deductions not later than seven working days after salary payment, and provide life insurance cover for employees.
However, despite continuous engagements, audits, and sanctions by PenCom, a significant number of employers, including some within the financial services industry, have remained in breach of these legal obligations.
PenCom revealed that it has appointed Recovery Agents to audit defaulting employers, impose administrative sanctions, and pursue judicial recovery of outstanding pension contributions and penalties.
Yet, the persistence of non-compliance has continued to threaten the sustainability and credibility of the CPS, prompting this joint enforcement strategy with NAICOM.
By this new circular, all Licensed Insurance Companies must possess valid Pension Clearance Certificates (PCCs) from PenCom and Group Life Assurance Certificates compliant with NIIRA 2025 before engaging in any operational or investment activity.
Every vendor, service provider, and counterparty that seeks to do business with insurance companies must also hold valid PCCs and GLA Certificates, as a pre-condition for any contractual agreement.
The directive further extends to investment transactions, including commercial papers, bond issuances, and bank placements. All counterparties involved must execute a Compliance Attestation, affirming that their own vendors and service providers also maintain valid PCCs and GLA Certificates.
This cascading requirement effectively embeds pension and insurance compliance throughout the investment value chain, ensuring that no entity within the insurance ecosystem operates outside the law.
Insurance firms are also required to integrate these compliance requirements into their internal policies, vendor selection, due diligence, and investment risk assessment frameworks.
Similarly, parent companies, subsidiaries, holding firms, and institutional shareholders of insurance entities must demonstrate full compliance before any business dealings are approved.
Recognising the operational adjustments that the new measures demand, PenCom and NAICOM have granted a six-month transition window from the date of the circular to enable full implementation.
During this period, insurance companies are expected to align their internal processes, communicate compliance expectations to vendors, and update their governance frameworks accordingly.