Headlines
NAICOM: light-speed improvements in the INSURANCE sector
It would take a lot more than coincidence for one man to serve as Director General and Commissioner/Chief Executive Officer all in one lifetime and in a country of over 200 million people, across 3 administrations. It simply requires the quality of being exceptional; being 1% of the top 1%. Mr Sunday Olorundare Thomas is an apotheosis of such superlative attribute. Mr Thomas is no stranger to leadership as he was Director-General of the Nigerian Insurers Association (NIA) between May 2010 and April 2017.
When Mr. Thomas took the reigns as substantive Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), on April 30, 2020, the country was getting a thorough bred administrator as well as an insurance expert extraordinaire. Trained in Actuarial Science and possessing an MBA in Finance, the NAICOM boss had the extra advantage of having worked his way through the Nigerian insurance ecosystem and achieved landmark excellence along the way.
Over three decades of premium insurance experience and expertise are what Mr Thomas came with and the results of his outstanding experience and skills are already perspicuous. The commission has experienced a reinvigorated planning structure and result-driven policy development system. Service delivery has also improved tremendously, as has customer protection and the confidence of investors and stakeholders.
His previous designation as Director-General of the Nigerian Insurers Association (NIA), an association considered a linchpin in insurance in Nigeria, provided him with the fundamentals of leading in the future in the capacity of Commissioner/Chief Executive Officer of NAICOM. His strategic policy reforms in market development, ensuring insurance penetration in the country, have improved the insurance sector in the country astronomically.
In the age of technology, the insurance sector in Nigeria was lagging at some of the most basic technologies requisite for functionality. The just completed portal had been under construction for the past nine years and only attained functionality under the current leadership. The organization has aligned with the Nigerian content policy and there is an expectation that this would increase the presence of insurance in the oil and gas sector.
Mr Thomas’ reign has witnessed light-speed improvements in the sector at micro and macro levels. There is a renewed vision for inclusion of everyday Nigerians from any social stratum to energize the economy and stimulate full-scale economy engagement. About six micro-insurance companies will be functional to this effect in the near future.
NAICOM is experiencing deepening localization of its activities and widening globalization of its standards. The 2021-2023 Strategic Plan has five goals designed to entrench effective and efficient service delivery, ensure safe, sound and stable insurance sector, adequately protect policyholders, and public interest, improve trust and confidence in the insurance sector and encourage innovation and promote insurance market development. All industry-based growth indicators accede to the competency and professionalism of Mr Sunday Olorundare Thomas and his technical team…
Jamilu Yusuf Yola
Publisher
Headlines
Commission, journalists partner to revamp water sector in Kaduna
The Kaduna State Water Services Regulatory Commission (KADWREC) says it is partnering media practitioners towards revamping water services in the state.
Mr Dogara Bashir, the Executive Chairman of KADWREC, disclosed this on Monday at a one-day workshop organised for media practitioners on regulation of ‘Water, Sanitation and Hygiene’ (WASH) activities held in Kaduna.
Bashir said the commission was aware of the importance of the role media practitioners played in the society.
He stated that the workshop was to provide an avenue to liaise with them as important stakeholders on water supply and sanitation services in the state.
Bashir said: “As media practitioners, we believe you are a gateway to the citizens so, the workshop would acquaint you with some of the regulations already in place so that you can in turn transmit it to the public
“The state of water services in Kaduna State is in dire need of attention and the State Water Corporation and KADWREC were established towards addressing the seeming challenges.
“The commission is mandated to ensure better service delivery and regulation of water and sanitation services in the State.
“The idea is that once the regulations are developed, we send them to the State Ministry of Justice to gazette and then we get the state government to endorse and give the go ahead to commence the implementation of the regulations
“We intend to implement them fully come January, 2025 God willing, as we have embarked on advocacy activities having gone to zones 1 and 2 where we talked to traditional rulers, security agencies and the Judiciary.”
He disclosed that a special Court has already been attached to the commission by the Chief Judge of the State for service providers who may likely violate regulations.
The chairman further said that amongst the commission’s objectives include ensuring security, reliability and quality of service in the production and delivery of water to the consumers as well making regulations to control the sinking of boreholes.
Others included; maximising access to water services by promoting and facilitating consumer connections to distribution systems in urban and rural areas.
According to Bashir, they also include ensuring that regulatory decision-making has regards to all the relevant health, safety, environmental and social legislation applying to the water sector.
Bashir further said that the commission collaborate with the relevant state and federal agencies on water policies.
Crime
2 ladies docked for allegedly obtaining money by fraud
The police in Lagos have dragged two women, Mmesuma Ofunna, and Blessing Adimekwe, before an Ojo Magistrates’ Court in Lagos, over alleged obtaining money by false pretence.
Ofunna, 22, and Adimekwe, 25, were arraigned before the Magistrate, Mr L K J Layeni, on a four-count charge bordering on conspiracy, obtaining by false pretence, stealing and conduct likely to breach peace.
They each, however, pleaded not guilty to the charge.
The prosecutor, ASP Simon Uche, told the court that the defendants conspired with others now at large, to commit the offence on Oct. 26 at the Okokomaiko area of Ojo.
He alleged that they had obtained the sum of N70, 000 from one Faith Ahamefule, with a promise not to post her nude photo on social media.
The prosecutor alleged that the defendants later posted the nude photo of the nominal complainant on social media, knowing that their promise was false.
He alleged that they stole the N70, 0000, thereby conducting themselves in a manner likely to breach public peace.
The offence contravenes the provisions of sections 168(d), 287, 314, and 411 of the Criminal Law of Lagos State 2015.
The court granted the defendants bails in the sum of N500, 000 each, with two sureties each in like sum.
He adjourned the case until Jan. 8, 2025 for mention.
Headlines
Driver jailed 6 months for attempting to steal a car
A Jos Magistrates’ Court on Monday, sentenced a 37-year-old driver, Ahmad Umar to six months in imprisonment for attempting to steal a car.
The Magistrate, Shawomi Bokkos, summarily tried and sentenced the convict after he pleaded guilty to the charge.
Bokkos in his judgment, ordered the convict to pay an option of N30, 000 fine or spend six months in prison.
Earlier, the Prosecutor, Insp Ibrahim Gokwat, told the court that the case was reported on Oct. 10, at the Area Command Police station through a distress call by one Sydney Peacemorie the complainant.
Gokwat said the complainant parked his Toyota RAV4 in front of Access Bank and went inside to carry out some transactions, only to return to find the convict inside his car.
“The convict unlawfully opened the car and was in the driver’s seat when the complainant raised alarm and he was apprehended, but his accomplice escaped.
“The convict was severely beaten by a mob but was rescued by the police,” said Gokwat.
“The prosecutor said that the offence contravened the Plateau Penal Code Law.
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