NEWS
AIICO Insurance Records N12bn Profit in 2023

AIICO Insurance Plc, has recorded a profit after tax of N12 billion for the financial year ended Dec. 31, 2023.
The figure represents an increase of N6.8 billion or 132.6 per cent from N5.2 billion posted during the corresponding period of 2022.
Mr Kundan Sainani, Chairman of the Board of Directors, AIICO, was quoted to have said in a statement on Monday, after the company’s 54th Annual General Meeting (AGM) o company in Lagos.
Sainani stated that the insurer also recorded a Gross Written Premium of N110.
1 billion during the year under review, against N88.3 billion posted in the year 2022.He noted that the year 2023 produced other significant gains for the company due to the meticulous execution of the firm’s business strategy.
The chairman noted that the result was achieved following the company’s transition from IFRS 4 to IFRS 17 standard, and a yield of insurance revenue of N72.6 billion in the year 2023, from N54.8 billion recorded in 2022.
The chairman said the results were achieved during socio-economic challenges which contributed to the rise of domestic prices.
The economic challenges, Sainani said, were characterised by the increase in monetary policy rate, inflation, removal of fuel subsidy, forex scarcity and the 2023 fiscal bill.
He said: “Despite this unsettling landscape, 2023 was another strong year for AIICO, with the firm generating impressive record revenue and substantial growth.
“Our profits for the period increased by 132.6 per cent to N12 billion from N5.2 billion in 2022, reflecting strong underlying performance across our businesses.”
Projecting into the future, the chairman said that AIICO remained resilient and adaptable, ready to provide more favourable terms to its valued customers and strategically invest in opportunities that yield positive returns.
On his part, AIICO’s Managing Director/Chief Executive Officer, Mr Babatunde Fajemirokun, assured the shareholders of high value and better returns on investment in the years ahead.
Fajemirokun said both the board and management of the insurance company were considering devoting a bigger chunk of future profits to dividend payments.
Responding, shareholders of the underwriting firm commended the board and management of AIICO for strengthening the company’s fundamentals as well as growing its asset base.
A shareholder, Dr Alex Adio, lauded the insurer for consistently paying dividends, while urging the board to increase dividend payout next year.
Another shareholder, Dr Anthony Omojola, praised the company for its share buy-back scheme, noting that it would enhance earnings per share and increase share price.
Other highlights of the meeting included the election of Mrs Kemi Adewole to the board of AIICO as an Independent Non-Executive Director and Mr Gbenga Ilori as an Executive Director.
AIICO Insurance is a leading composite insurer in Nigeria, with a 60-year record of accomplishment in delivering quality service to its clients.
Founded in 1963, AIICO provides life and general insurance, health insurance, and investment management services to create and protect wealth for individuals, families, and corporate customers. (NAN)
NEWS
Enugu Reaffirms Commitment to Excellence in Infrastructure Delivery

From Sylvia Udegbunam, Enugu
Enugu State Commissioner for Ministry of Works and Infrastructure Ben Osy Okoh, has reiterated its firm commitment to upholding the highest standards in all government-awarded contracts, reinforcing the state’s vision for transformational development.This was disclosed in a statement by the Public relations officer ministry of work and infrastructure Enugu State, Ngozi Ngene on Tuesday.
Okoh In his first meeting with the Ministry’s Management Staff emphasized that quality control remains a non-negotiable priority. According to him “Every contract awarded by the state must be executed strictly according to its specifications. If the contract requires concrete strength of 25 Newton per millimeter square, that is exactly what we expect. There will be no compromise.”He further emphasised the critical need for strict adherence to established standards and international best practices in road construction, warning that pavement thickness must meet approved specifications, and that asphalt must be produced, transported, laid and compacted at the appropriate temperatures in line with global standards. “Anything short of these best practices will not be accepted”.”To ensure rigorous quality assurance, the Ministry is prioritising the upgrade and full resourcing of the Materials Laboratory Department, the technical unit responsible for testing and verifying construction materials. I take personal responsibility for ensuring that our materials lab is fully equipped to deliver accurate and timely quality checks,” he said.The Commissioner expressed strong commitment to the Governor’s transformative agenda, saying that “We are aligned with His Excellency’s dream of transforming Enugu State. The state we knew two years ago will be completely different by the end of this administration. We are committed to making this vision a reality, swiftly and effectively”.He underscored the importance of professionalism, diligence, and collective responsibility. He noted that existing operational challenges are being systematically addressed, with particular attention to enhancing the wellbeing and working environment of field personnel.He further affirmed that those who show commitment and dedication will be recognised and rewarded as the Ministry carries out its responsibilities. He also emphasised the need for strengthened project monitoring and evaluation to ensure strict compliance with approved specifications and timely delivery.”The Ministry will ensure that all contractors engaged on state projects meet their contractual obligations and responsibilities. Our philosophy shall be anchored on quality, transparency, and accountability. Every project must adhere to approved specifications, timelines, and best practices. We are committed to delivering infrastructure that reflects value for money and stands the test of time”.“We are not just constructing roads and bridges,” the Commissioner concluded, “We are setting a new national standard for public works where excellence is absolutely non-negotiable.”In alignment with this vision, the Special Adviser to the Governor on Works and Infrastructure, Engr. Ogugua Emehelu, congratulated the Commissioner on his appointment and commended his early initiatives. He emphasised the importance of open communication and teamwork within the Ministry, encouraging staff to engage constructively with the new Commissioner and extend their full support. He noted that the success of the Ministry depends on collective effort and shared responsibility.Head of Administration and Supply, Princess Nnaji speaking on behalf of the Ministry, pledged full support to the new Commissioner and appealed for mutual acceptance and cooperation to achieve the desired results.NEWS
Mutfwang Commits to Expanding State Healthcare

From Jude Dangwam, Jos
Plateau State Governor, Caleb Mutfwang has disclosed that under his administration, the Plateau State Contributory Healthcare Management Agency (PLASCHEMA) has recorded groundbreaking progress in health insurance coverage grown 93,605 enrollees in May 2023, to enrolment skyrocketed to 208,550 by March 31, 2025 having a 123% increase.
He reiterated his commitment in expanding the state healthcare contributory scheme to include more vulnerable citizens of the state. Mutfwang made this known on Monday during a Media perley with the entire media community.According to him, “Under the Time is now administration, PLASCHEMA has recorded groundbreaking progress in health insurance coverage, ICT transformation, and access to care.”From 93,605 enrollees in May 2023, enrolment skyrocketed to 208,550 by March 31, 2025 a 123% increase. This expansion includes enrollees from the formal sector, the Basic Health Care Provision Fund (BHCPF), and newly introduced equity programs such as Mutfwang Care for retired civil servants.”He noted that a major overhaul of the Agency’s ICT infrastructure has enhanced transparency, real-time monitoring, and user experience.”The system now supports direct premium payments via Paystack, Mobile and offline enrolments, Real-time dashboards, and Automatic ID card generation for enrollees and dependents. The reforms have strengthened data integrity, enhanced transparency, and decentralized access through new zonal offices in Barkin Ladi, Pankshin, and Shendam,” he stated.The Governor disclosed that the “Mutfwang Care Initiative” has already covered over 9,000 vulnerable citizens, with Governor Mutfwang personally flagging off enrolment.”PLASCHEMA also plans to deploy a full Electronic Medical Records system in Q2 2025, integrated with the National Identity Number (NIN), to revolutionize verification, utilization tracking, and accountability across healthcare tiers,” Mutfwang statedThe Governor further disclosed that the Impact Project: Transforming Maternal and Child Health launched in 2021 towards improving Child and Maternal Health Project (IMPACT) in Plateau State is making tangible strides toward reducing under-five and maternal mortality has made significant progress.”The state is on course to reduce under-five mortality from 132 to 79 per 1,000 live births by 2030 Achievements (2023–2024). Increased antenatal and postnatal attendance, Rise in skilled birth attendant (SBA) deliveries, Improved uptake of IPT3 (malaria prevention during pregnancy).”More children under one year fully immunized, with a notable decline in infant and maternal deaths. Key investments consist of the deployment of 207 motorbikes to boost outreach and referrals.”Installation of solar power systems in all the 207 Basic Health Care Provision Fund Facilities (BHCPF) in 207 Federal wards across the state. Renovation and tiling of delivery rooms for safer childbirth.”Distribution of 207 laptops for digital health reporting. Digitization of all BHCPF facilities for real-time monitoring.Contracts awarded to upgrade 82 PHCs to meet national standards,” Mutfwang noted.NEWS
Commissioner Urges Citizens to Protect Govt Property against Vandalism
From Joseph Amedu, Lokoja
Kogi State’s Commissioner for Information and Communications, Kingsley Fanwo has urged citizens to protect government property against vandalism.Fanwo stressed the need for citizens to see government property as their own since they were provided to serve their needsHe gave the warning when he led the management team of the Ministry on an on the spot visit to Radio Nigeria Prime FM Lokoja, where hoodlums carted away valuable broadcast equipment at the Radio Station.
The Commissioner, who was represented by the Permanent Secretary of the Ministry, Ebenezer Adurodija, described the act as barbaric and disheartening, “The incessant vandalism of Broadcasting Stations is disheartening and must be addressed properly,” he stated.He also urged the management at the headquarters to take necessary steps to ensure that the vandalised equipment are replaced as soon as possible.Fanwo called on the federal government and other stakeholders to intensify the security of the Broadcasting Station for the safety of the staff and the property.The Commissioner reiterated Kogi State Government’s efforts in ensuring the security of the broadcast stations, whether federal, state, or private, as they are soft targets for hoodlums and disgruntled elements.”We will do everything possible to ensure the safety of all the broadcasting stations in the state, government or non-government to avert future occurrence”Communities have a big role in protecting government property within their domains. We seek the cooperation of our community leaders to also assist the government in this regard,” he emphasized.In his remarks, the General Manager of the station, Alhaji Adeiza Momohjimoh, appreciated Kingsley Fanwo and the management team of the Ministry of Information and Communications for identifying with them at their grieving moment, describing the action of the hoodlums as unfortunateAlhaji Momohjimoh highlighted that the criminals came prepared as most of the equipment carted away could not be removed with bare hands without tools, noting that they have communicated the incident to the zonal headquarters in Lafia.The General Manager appealed to the state government and security agencies to help media houses with personnel to secure lives and property.He also appealed to the state government for financial assistance to enhance the smooth running of the station as the state is for Kogi State, while 95% of the staff are from the state.Alhaji Adeiza Momohjimoh urged the community to give necessary support to safeguard the radio station.