Category: Insurance & Pension

First prosecution witness, Rouqayya Ibrahim, on Tuesday narrated to a Federal High Court in Abuja, how a former Head of Service of the Federation, Mr. Stephen Oronsaye, and some officials allegedly siphoned N14bn pension fund using about 66 illegal bank accounts. Ibrahim, an investigator and an operative with the Economic and Financial Crimes Commission told…

  Minister of Finance, Mrs. Kemi Adeosun The Minister of Finance, Mrs. Kemi Adeosun, has said that the Federal Government will address the low performance of the insurance sector. She said this during the West African Insurance Companies’ Association educational conference in Lagos on Wednesday. Adeosun said, “The commonly used index of measuring the development…

………micro pension plan initiative The National Pension Commission -PenCom- is planning to introduce the informal sector into the Contributory Pension Scheme through its micro pension plan in order to increase the pensionable population in the country. There are also indications that the commission is planning to introduce incentives such as access to loans for artisans and…

                                                Pensioners of Federal Government  A total of N154.3 billion has been earmarked for pension payments of Federal Government retirees, including monthly pensions, arrears of gratuities and Group Life Insurance Policy.  …

NATIONAL Pension Commission (Pencom) has approved an Extraordinary General Meeting (EGM) for First Guarantee Pension Limited (FGPL) to re-constitute its board. The EGM will take place today and the reconstituted board of FGPL will now have Chief George Ozodinobi as its Chairman and the law firm of Chijioke Chuku and Co as Company Secretary. It…

WAPIC Corporate Office, VI WAPIC, a multi-line insurance company has disclosed that its Gross Written Premium rose by 36 percent to hit N7.1 billion. The company in its audited financial results for the period ended 31st December, 2015 also announced that its Underwriting Profit increased by 12 per cent to N1.5bn driven mainly by a…