Connect with us

NEWS

NAICOM Lauds Police Move to Enforce Third Party Vehicle Insurance Feb

Published

on

Share

By Tony Obiechina, Abuja

National Insurance Commission (NAICOM) says it welcomes the decision of the Nigeria Police Force (NPF) to commence nationwide enforcement of the Third Party Motor Insurance for all vehicles on Nigerian roads from Feb. 1.NAICOM in a statement made available to the media yesterday said that the move is aimed at ensuring compliance with Section 68 of the Insurance Act 2003.

According to the statement, “The Commission recognizes that many Nigerians, especially vehicle owners, may not fully understand the importance of the law and the benefits of the Third Party Motor Insurance Policy.
So, what does this mean for vehicle owners in Nigeria?”NAICOM explained that the Third Party Motor Insurance is the minimum coverage compulsorily required by law for any vehicle on the roads, while Comprehensive Motor Insurance is optional and recommended.
The statement reads, “The essence of every vehicle on the road having the Third Party Motor Insurance is to facilitate safety of others and ensure the financial recovery/compensation for damages and/or injuries or loss of lives in the event of accidents covered by the policy.”The Third Party Motor Insurance Policy can be procured from or through only licensed insurance entities authorized by the National Insurance Commission to transact Motor Insurance business in Nigeria.“The Third Party Motor Insurance Policy is sold for a premium of N15,000 per year private car owners, while the premiums for commercial vehicles vary depending on the type of vehicles.”The Third Party Motor Insurance Policy gives the policy holders the limit of N3 million to repair or replace the property of the innocent third party damaged during an accident.“Also, it gives the policyholders access to limited medical care for any injured third party as a result of the accident. In addition, it provides financial compensation to family of the deceased innocent third party in the event of death.”Furthermore, the Third Party Motor Insurance Policy now includes third-party motor insurance cover for the vehicle if the vehicle was driven to any West African country based on the protocol of the ECOWAS Brown Card Scheme.”The commission encourages vehicle owners in Nigeria to take full advantage of the enforcement announced by the Nigerian Police Force to ensure the safety and protection of lives, properties and financial compensation for innocent third parties on our roads.”A Complaints Bureau is also in place at the National Insurance Commission for resolving all complaints that may emanate from members of the public who may be dissatisfied by an insurance company’s service or response to claims.”We hope this brings a better understanding of the announcement of the enforcement of the Third Party Motor Insurance law as we look forward to building a healthier insurance industry in Nigeria.”

NEWS

FCTA Orders Demolition of 24 Storey Buildings Built on Waterways

Published

on

Share

The Abuja Metropolitan Management Council (AMMC) of the Federal Capital Territory Administration (FCTA) has ordered the demolition of 24 two-storey buildings illegally constructed on a waterway in Guzape District, Abuja.AMMC Coordinator, Chief Felix Obuah, issued the directive during an inspection tour of various parts of Abuja on Monday, alongside other council officials.

Obuah stated that the affected buildings were developed by Cityscape Estate on Plot 4851 without necessary approvals.
He described the construction as a flagrant violation of planning regulations and vowed that the structures would be removed to serve as a deterrent to others.“We have mobilised equipment, materials, and machines on-site.
“These illegal buildings erected without approval will go down,” Obuah said.“Any other building without proper approval, especially those constructed on waterways or road corridors, will be demolished.“It is no longer business as usual; we are committed to restoring Abuja to its original master plan.”He warned that AMMC officers found complicit in the approval or oversight of the illegal structures would face disciplinary action, stressing that the council would no longer tolerate negligence or sabotage.“They are receiving salaries and are expected to do their jobs.“The FCT Minister, Nyesom Wike, is working tirelessly to change the narrative, and we will not allow any disgruntled elements to sabotage those efforts,” Obuah said.Though the demolition of one structure was carried out on-site, the council granted a two-week grace period, at the developer’s request—for the voluntary removal of all contraventions.“Failure to comply will result in full-scale demolition,” Obuah warned.Director of Development Control, Mr Mukhtar Galadima, explained that the developer had originally been allocated a plot near the Federal Housing Authority Estate in the area.However, after part of the land was affected by the proposed S20 road project, additional land was allocated as compensation.“That compensation does not give the developer the right to build without obtaining proper approval,” Galadima noted.He said the infractions were discovered two weeks ago during a routine inspection.“A committee was subsequently set up to investigate the situation, which revealed that construction was ongoing in a valley area—an unacceptable practice under FCTA regulations.“Our preliminary findings show that the number of buildings on site exceeds the approved number.“This is a complete violation of the terms of approval,” Galadima added.Chairman of the FCT Building Contravention Taskforce, Mr Gabriel Musa, revealed that while only 18 buildings were approved, the developer constructed 42, more than double the permitted number.In response, the developer, Mr Kadiri Obaidi, admitted the infractions and accepted responsibility, attributing some of the unauthorised development to subscribers.“We have approval for the estate, but many infractions occurred—mostly by our subscribers, for whom we are responsible,” he said.“We acknowledge the violations and are willing to pull down the illegal structures ourselves within two weeks to salvage some of the materials.”The council granted his request on the condition that all unauthorised structures are removed at no cost to the government. (NAN

Continue Reading

NEWS

Landlord’s Son Kills Tenant During Argument in Ondo

Published

on

Share

A 22-year-old lady, Joy Tale, has been reportedly killed by her landlord’s son, Odunayo Olomolatan, 41, in Ode-Irele, Irele Local Government Area of Ondo State.

Report says that the tenant was hacked to death on Monday during an argument.

DSP Olayinka Ayanlade, the spokesman for the Police Command in Ondo State, confirmed the incident to newsmen in a telephone interview.

Ayanlade said that the suspect has been arrested and in the custody of the Divisional Police Headquarters, Ode-Irele.

He disclosed that investigation has begun to unravel the circumstances surrounding the death of the lady.

“Yes, I can confirm to you that the lady was allegedly hacked to death during argument between her and her landlord son.

“The suspect has been arrested and investigation is ongoing to unravel circumstances surround the lady’s death,”Ayanlade said.

Meanwhile, Olajide Akinfe, the Chairman of the local government, has called for calm over the incident, urging residents not to take laws into their hands.

Akinfe, who claimed to have visited the divisional police headquarters, said that measures have been put in place to ensure that the suspect did not escape justice. (NAN)

Continue Reading

NEWS

Finance Ministry Denies N13bn Contract Breach

Published

on

Share

The Federal Ministry of Finance has stated that no contract was awarded without strictly adhering to due process and existing procurement regulations. This is contained in a statement issued in Abuja on Monday by Mr Mohammed Manga, Director of Information and Public Relations at the Ministry.

He said the ministry’s attention was drawn to an online report by Akelicious, alleging that N13 billion in contracts were awarded without due process between February and June 2024.
According to the report, the contracts included the Presidential Initiative on Compressed Natural Gas (Pi CNG) and other ongoing projects. Manga clarified that all contracts were awarded in line with the Public Procurement Act and other relevant laws and regulations.
He described the allegations of corruption or irregularities as entirely baseless and without merit. “The ministry, under the leadership of Mr Wale Edun and Mrs Lydia Shehu Jafiya, remains committed to transparency and accountability in its operations,” he said. This commitment, he said, is reflected in the effective management of the national economy. Manga acknowledged the important role of the media in promoting transparency, accountability, and good governance. He, however, urged the media to verify all information before publication and warned that legal action would be taken against false or malicious claims. “The ministry unequivocally states that no contracts were awarded without due process at any time,” he said. He added that the allegations are unfounded and malicious, aimed at damaging the ministry’s reputation and distracting from its economic recovery efforts. He said the ministry’s work aligns with the Renewed Hope Agenda of President Bola Tinubu’s administration. (NAN)

Continue Reading

Read Our ePaper

Top Stories

NEWS3 hours ago

FCTA Orders Demolition of 24 Storey Buildings Built on Waterways

ShareThe Abuja Metropolitan Management Council (AMMC) of the Federal Capital Territory Administration (FCTA) has ordered the demolition of 24 two-storey...

NEWS3 hours ago

Landlord’s Son Kills Tenant During Argument in Ondo

ShareA 22-year-old lady, Joy Tale, has been reportedly killed by her landlord’s son, Odunayo Olomolatan, 41, in Ode-Irele, Irele Local...

NEWS3 hours ago

Finance Ministry Denies N13bn Contract Breach

Share The Federal Ministry of Finance has stated that no contract was awarded without strictly adhering to due process and...

NEWS3 hours ago

FEC Approves Variation, Dualisation of Inherited Road Projects

ShareMr Dave Umahi, the Minister of Works, announced that the Federal Executive Council (FEC) has approved alterations to the scope...

NEWS3 hours ago

Tinubu Committed to Lifting Millions Out of Poverty – Edun

Share President Bola Tinubu is dedicated to achieving rapid, sustained, and inclusive economic growth that will lift millions of Nigerians...

NEWS3 hours ago

FCTA to Prosecute Developers of Illegal Structures on Waterways, Green Areas

ShareThe Federal Capital Territory Administration (FCTA) says it will prosecute any developer caught developing illegal structures on waterways and green...

Foreign News3 hours ago

U.S. Appeals Court Rejects Trump Bid to Revoke Thousands of Migrants’ Status

ShareA federal appeals court on Monday rejected a request by U.S. President Donald Trump’s administration to allow it to revoke...

Minimum wage: FG inaugurates committee to adjust workers’ salaries Minimum wage: FG inaugurates committee to adjust workers’ salaries
NEWS3 hours ago

Buhari Condoles Boss Mustapha over Sister’s Death

ShareFormer President Muhammadu Buhari has expressed sadness over the death of Charity Mustapha. Charity was a sister to Boss Mustapha,...

NEWS3 hours ago

Out-of-school: KDSG to Train 8,700 School Management Officials

Share The Kaduna State Government says it will train 8,700 School Based Management Committee (SBMC) members to improve basic education...

OPINION3 hours ago

Reforms, Reluctant Reformers and Bold Reforms

ShareBy Uddin Ifeanyi The incumbent Federal Government is wont to make a song and dance of its reform credentials. Of...

Copyright © 2021 Daily Asset Limited | Powered by ObajeSoft Inc