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NAICOM, EFCC Join Forces to Sanitise Nigeria’s Insurance Sector

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By Tony Obiechina, Abuja

The Management of the National Insurance Commission (NAICOM) led by the Commissioner for Insurance and Chief Executive Officer, Olusegun Ayo Omosehin engaged the Economic and Financial Crime Commission (EFCC) on the need to sanitize the insurance sector.

This came to light on Wednesday during a working visit to the headquarters of the EFCC in Abuja by the NAICOM team which was received by the Chairman of the EFCC Olu OlukoIyede on Wednesday.

In his remarks, the NAICOM highlighted the mandate and core functions of NAICO which include regulating, supervising and developing the insurance industry in Nigeria, acting as adviser to the Federal Government on all insurance related matters and more importantly ensuring the protection of policyholders, and public interest.

He further stated that the visit was aimed at strengthening collaboration and partnership between NAICOM and the EFCC as agencies of the Federal Government especially in combating money laundering, fraud and other financial crimes that are affecting the growth of the insurance sector.

 He expressed confidence and optimism that the new leadership of the EFCC under Ola Olukoyede will continue to provide necessary support to NAICOM to continue to strengthen and sanitise the Nigerian Insurance Industry.

The EFCC Chairman, Olu Olukoyede in his response thanked the Commissioner for Insurance and members of his team for the visit and assured them of EFCC’s full support in the ongoing effort by NAICOM to strengthen and sanitise the sector, preventing financial crimes and ensuring protection of policyholder’s interests and rights.

He stated that the insurance sector has great potential for growth looking at other countries where insurance drives their economy.

The EFCC Chairman pledged to support financial regulators in monitoring regulated entities and investigating financial crimes. He also emphasized EFCC’s commitment to sanitizing the insurance industry through robust enforcement of financial laws and regulations.

He stated that the EFCC aims to insulate the insurance sector from rogue activities, ensuring stability and sanity. To achieve this, Olukoyede promised to bolster the department overseeing banking and insurance activities, giving special attention to the insurance sector.

The meeting agreed that strengthening the partnership between the National Insurance Commission (NAICOM) and the Economic and Financial Crimes Commission (EFCC) is a crucial step towards creating a more secure and stable insurance sector in Nigeria.

By working together and sharing information, the two agencies can effectively sanitize the industry and ensure the achievement of their mandates.

Foreign News

 

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Vatican Plans For Pope Leo XIV To Meet U.S. VP Vance

Pope Leo XIV, the world’s first U.S. pope, plans to meet with U.S. Vice President JD Vance, a converted Catholic, on Sunday, during an inaugural mass for the new pontiff.

Vatican Secretary of State Cardinal Pietro Parolin said on Friday.

Parolin emphasised that the schedule and organisation for Sunday, with guests from more than 200 delegations worldwide, is very complex.

However, he said the protocol team is working on arranging the meeting.

Vance will lead the U.S. delegation for the 10a.m (0800 GMT) Mass on Sunday.

For the vice president, this marks a quick return to Rome.

He was the last senior international politician to visit with the late pope Francis just before his death.

U.S. President Donald Trump attended Francis’ funeral.

During a potential bilateral meeting between Pope Leo and Vance, international crisis hotspots, such as Russia’s war against Ukraine, are likely to be on the agenda.

After direct negotiations between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky failed to materialise in Turkey this week, the Vatican is being considered as a possible venue for talks.

“The situation is very difficult, dramatic,”said Parolin, who is considered the second most important figure in the Vatican after the pope.

He announced that Leo plans to potentially make the Vatican, the Holy See, available for a direct meeting between the two sides.

The Pope recently hinted that he wants to help in the search for peace in the conflict. (dpa/NAN)

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DEFENCE

FG Introduces New Online Citizenship, Business Management Platform

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The Ministry of Interior has  announced the launch of a new Online Citizenship and Business Management Platform.

This is contained in a statement by the Ministry’s Permanent Secretary, Magdalene Ajani on Friday in Abuja.

Ajani said that the new digital platform was designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround time and improved user experience.

The platform is aimed at managing citizenship applications, processing business permits, and administering regulations related to businesses and foreign workers.

The permanent secretary explained further that the initiative was part of the ministry’s ongoing reforms aimed at promoting transparency, enhancing operational efficiency thereby significantly improving service delivery to the public.

“Members of the public, corporate entities, and other stakeholders are hereby expected to access the platform through the following official channels: Ministry of Interior’s website: https://interior.gov.ng.

Direct portal access: https://candb.interior.gov.ng, candb-support@interior.gov.ng for support or inquiries.

“The ministry remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation.(NAN)

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JAMB: YabaTech Backs Oloyede’s Leadership Style, Urges Others To Take Cue

 The Yaba College of Technology (YabaTech) has declared its total support for the Joint Admissions and Matriculation Board (JAMB) leadership amidst the 2025 Unified Tertiary Matriculation Examination (UTME) developments.

Dr Ibraheem Abdul, Rector of Yabatech, disclosed in a statement on Friday in Lagos.

Abdul said that Prof Oloyede’s heartfelt apology and assumption of full responsibility demonstrated commendable leadership and integrity.

“We stand in solidarity with Prof Oloyede, we are with him in the future he beholds for JAMB. We reaffirm our confidence in his visionary leadership and urge other leaders in the country to take a cue from his leadership style,” he stated.

According to him, YabaTech remains committed to supporting JAMB’s initiatives and reforms aimed at enhancing the integrity and efficiency of its examination processes.

The rector noted that the recent technical glitches that affected approximately 379,997 candidates across 157 centres, particularly in Lagos and the South-East states, had understandably caused distress among students and stakeholders.

“As the Rector, and a dedicated advocate for educational excellence in Nigeria, I extend my unwavering support to Prof Is-haq Oloyede, Registrar of JAMB, and his entire team during this challenging period following the uproar concerning 2025 UTME.

“His commitment to transparency and prompt corrective measures, including the rescheduling of examinations for affected candidates, underscores his dedication to upholding the credibility of our educational assessments.

“This incident serves as a catalyst for all educational stakeholders to collaborate more closely, ensuring robust systems that can withstand unforeseen challenges,” he added.

The rector noted that though the overall performance in the 2025 UTME had raised concerns, it was, however, imperative to recognize the complexities involved in administering large-scale examinations in a technologically evolving environment. (NAN)

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