Headlines
INSCAN seeks reversal of policy on third-party motor insurance premium
The Insurance Consumers Association of Nigeria (INSCAN) has called for the reversal of the policy directive on the increase of third-party motor insurance premiums by 200 per cent.
The National Coordinator of INSCAN, Mr Yemi Soladoye, made the demand in a letter addressed to the National Insurance Commission, which was made available to newsmen on Monday in Abuja.
In his words, “We, the Insurance Consumers Association of Nigeria (INSCAN), an affiliate of the Federal Competition and Consumers Protection Commission of Nigeria, once again introduce ourselves to you as an organisation established in 2010 with objectives to speak for the aggrieved Nigerians on insurance matters.
“We hereby demand that the directive be reversed as it amounts to a deliberate breach of the fundamental principle of the utmost good faith and other decent regulatory principles that guide Insurance practice on your part.
“Our demand for the reversal of the directive is based on the facts that you failed to understand the full implications of your directive that the real organs you will punish are the Nigerian Insurance Consumers who provide the income that accrues to the entire insurance Industry. ”
Soladoye said that consumers in Nigeria deserved more than one-week notice from the insurance commission, adding that the association was not impressed with the corresponding increase in the Indemnity limit to N3.0 million.
“ You are definitely aware of the fact that even at the current N5,000 MTP premium, many Nigerians still patronise the fake underwriters and this is not because these Nigerians cannot afford the N5,000 but because they don’t see any benefit.
“We recall that even in the recent cases of currency redesign and cash withdrawal limit introduced by the Central Bank of Nigeria (CBN)(which is at nil cost to the depositors) still enough time was given to the public for feedback and adjustments to be made.
“As a Regulator in the Financial Services, you know that Companies and even governments in Nigeria must have concluded their budgets for the year 2023 latest by mid-December 2022,” he added.
According to him, the predictable outcome of the policy directive would be a substantial increase in the number of fake Insurance Underwriters in the country.
INSCAN seeks reversal of policy on third-party motor insurance premium
Headlines
FRSC warns truck drivers against speeding, reckless driving
Mr Joshua Ibitomi, the Area Commander of Federal Road Safety Corps (FRSC),
Ibeju-Lekki, Epe Division, Lagos State, has warned truck drivers against speeding and reckless driving.
He gave the warning in an interview with the News Agency of Nigeria (NAN) in Ibeju-Lekki on Tuesday.
The FRSC official, who blamed speeding on the ghastly vehicle accident that occurred at Aiyetoro market in Epe
which claimed several lives and left some injured, said that with careful driving, such accident could be avoided.
He added that “the accident was as a result of speeding, reckless driving and loading of truck beyond its capacity.
“All these are factors responsible for accident when drivers are not conscious of the driving rules.
“Vehicle can develop technical fault at any time, therefore, speed limit and caution need to be applied while driving.”
He said FRSC had been sensitising drivers on the need to install speed limit device and be road conscious while driving, in line with the mandate to instill decent use of road.
Ibitomi also advised passers-by and the public to be safety conscious while walking on roadsides to avoid falling victim of accidents.
He attributed major road crashes on roads to speed limit violation, urging drivers to respect the sanctity of human life by obeying traffic rules.
He added that the FRSC had evolved measures to ensure accident-free yuletide and new year festivities in 2024
Headlines
Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters
Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.
At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”
“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”
Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.
“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.
In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.
As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.
“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.
Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”
While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.
“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.
The contrasting scenes highlighted the nation’s deep political divide on election night.
Headlines
Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties
President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.
The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.
Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.
Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”
Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.
Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”
The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.
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