By Tony Obiechina, Abuja

In exercise of its regulatory powers, the National Insurance Commission (NAICOM) has sacked the Board and Management of African Alliance Insurance Plc, one of Nigeria’s oldest life assurance companies.

NAICOM Management said in a statement yesterday that its decision followed years of insolvency and failure of the insurance firm to meet the obligations of annuitants and policyholders.

According to the statement, “The commission, as the primary regulator of the Insurance Sector, announced that it has taken over the Board and Management of African Alliance Insurance Plc, effective today, 30th October 2024.

“This decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns regarding its ability to continue operating in a safe and sound manner which has for some time now generated a lot of uncertainty over claims settlement and payment to annuitants under the company.

The commission appointed an Interim Management Board to manage the affairs of African Alliance Insurance Plc. Members of the new Board include: Dr. Haruna Mustapha – Chairman, Jacob Erhabor – MD/CEO, Wasiu Amao – Executive Director Technical, Ms. Oremeyi Longe – Executive Director Finance, Anthony Achebe – Non-Executive and Haj. Halimatu Khabeeb – Non-Executive Director.

“The Interim Management Board will oversee the company’s operations, ensure compliance with regulatory requirements, and implement necessary reforms,” the statement added.

It explained that commission will work closely with all stakeholders, including annuitants, policyholders, employees, and investors, to minimize disruption and ensure continuity.

“The objective of this takeover is to protect the interests of African Alliance Insurance Plc’s annuitants, policyholders, other stakeholders, and the broader insurance industry, while ensuring the company’s return to stability and compliance.

“The Commission is committed to maintaining the stability and integrity of Nigerian insurance industry. Our actions today demonstrate our resolve to address concerns and protect the annuitants, policyholders and public interest,” it noted.

By Eze Okechukwu, Abuja

Wife of the defunct Biafra Leader, Ikemba Odumegwu Ojukwu and nominee for Minister of State, Foreign Affairs, Bianca Ojukwu stole the show yesterday on the floor of the senate during the screening of the seven ministerial nominees sent to the upper chamber for screening and confirmation by President Bola Tinubu last week.

Ojukwu, a former Nigeria Ambassador to the Kingdom of Spain and a multiple beauty queen winner upon entering the chamber received a glorious welcome by the senators, who were obviously excited watching and listening to her read out her resume to the lawmakers.

The Senate President, Godswill Akpabio who had called Anambra Central senator, Victor Umeh to comment on the nominee however cautioned senator Umeh, who among others described the nominee as a paragon of beauty to be wary of his comments on the aspect of her beauty because “social media could misinterpret him”, making many senators to burst with laughter.

However, no sooner had Akpabio called on Senator Osita Ngwu, who is Bianca’s senator to also pass a comment on her than the lawmaker made reference to Bianca’s beauty, prompting the Senate President to inform Senator Ngwu to ” limit your remarks to her CV, not her beauty. After all she didn’t submit her CV as beauty contestant here”.

Following the nominee standing up for roughly half an hour reeling out her resume, Akpabio asked her to sit down, to avoid “any calamity but she insisted on standing for the nearly an hour she was quizzed by the lawmakers, before she was asked to take a bow and go.

The senate which suspended its rule to admit the ministerial nominees began with Nentawe Yilwatda, the nominee appointed to replace Betta Edu as the Minister of Humanitarian Affairs and Poverty Reduction.

They subsequently screened other nominees starting with Maigari Dingyadi nominated as the Minister of Labour and Employment, Jumoke Oduwole nominated as the Minister of Industry.

Also screened were Idi Maiha as Minister for the newly created Livestock Development Ministry, Yusuf Ata as the Minister of State, Housing and Urban Development, and Suwaiba Ahmad as Minister of State Education.

After the screening exercise which lasted seven hours, the Senate confirmed all the nominees as ministers of the Federal Republic of Nigeria.

Reflecting on the exercise, Senate Spokesperson, Senator Yemi Adaramodu applauded President Tinubu for sending in the nominees together with their portfolios, adding that such move would give Nigerians the right to reason out the nominees based on experience and suitability for the post.He described the nominees as a blend of the old and young while wishing the nominees good luck in their endeavors.

From Dan Amasingha, Minna

Niger State House of Assembly has raised the alarm alerting the federal authorities to the seizure of a military training camp located in the state.

The training camp situated at the Nagwamase military cantonment in the Kontagora Local Government Area is reputed to be one of the biggest military training camps in the country.

The matter was raised by the member representing Kontagora 2 Constituency, Abdullahi Isah, during plenary yesterday.

Coming through a motion of urgent public importance, Isah noted that the military facility is built on a large expanse of land, stretching from Nagwamase in Kontagora Local Government Area, to parts of neighbouring Mariga Local Government Area.

The facility used to serve as a training camp for personnel of the Artillery Corps of the Nigerian Army before it was taken over by the bandits.

The lawmaker said people in 23 farming communities in the two local government areas have fled their ancestral homes while the bandits conduct their nefarious activities in the area unchallenged.

Describing the entire area as the hub of banditry, he lamented how the bandits have been terrorising unsuspecting travelers and farmers harvesting their farm produce.

According to the mover of the motion, the bandits have divided the occupied area into eight separate operational cells where they encamp and where they keep abductees after launching attacks.

Isah said, “This military camp is now known to have been taken over by bandits who are said to have established at least eight different camps in the area.

“The presence of the bandits on this training camp, which now serves as their safe haven has posed serious security challenges to communities within the camp both in Kontagora and Mariga Local Government Areas.”

According to him, communities in the area had come under intense attacks from the bandits in the last one month, adding that some members of the communities abducted in recent invasions were still being held by the bandits.

After exhaustive debate on the matter, the assembly urged the state government to as a matter of urgency, liaise with the military authorities to intensify efforts towards flushing out the bandits and allowing the host communities return to their homes.

The lawmakers urged the government to give the military the necessary support towards securing the training camp and restoring peace to the area.

Efforts by our correspondent to hear from the Army spokesman, Maj. General Edwin Buba were unsuccessful.