The Nigerian Council of Registered Insurance Brokers (NCRIB) has urged President Bola Tinubu to prioritise insurance as a key driver in achieving a $1 trillion economyExecutive Secretary of NCRIB, Tope Adaramola made the call during an interview on Monday in Lagos.Adaramola said the insurance sector has vast potential to support economic growth, but deeper reforms and stronger government backing are essential to realise its full value.

“Insurance is vital to national development. For the $1 trillion economy vision to materialise, insurance must be strategically positioned and meaningfully supported,” he stated.He described the passage of the Insurance Reform Bill by the House of Representatives as a significant milestone, noting it now awaits presidential assent. “One of the most notable developments recently is the Insurance Reform Bill,” he said.He added that once signed into law, the bill will broaden insurance operations, enhance industry solvency, and deepen penetration across the country.Adaramola also noted improved collaboration between the National Insurance Commission (NAICOM) and the Nigeria Police Force on enforcing third-party motor insurance.This partnership, he said, has increased public compliance and boosted premium income within the sector.He commended Tinubu’s administration for implementing the Group Life Insurance Scheme for workers and investing in key infrastructure.He highlighted projects such as the Lagos-Calabar Coastal Road and Sokoto-Badagry corridor as growth enablers for the insurance industry. “Insurance prospers alongside development. Every new road, factory or public asset creates opportunities for coverage and risk management,” Adaramola explained.However, he criticised the Federal Government’s poor adoption of insurance for its own assets, calling it ethically inconsistent. “It is morally wrong for the government to enforce insurance compliance when many of its assets remain uninsured. Leadership must begin by example,” he said.Adaramola urged enforcement of other compulsory policies, like insurance for buildings under construction, with the same vigour as third-party motor insurance.Proper implementation of these policies, he noted, would strengthen the sector and generate substantial revenue for national growth.Speaking on the administration’s performance, Adaramola said it is too early for a full assessment but acknowledged visible progress in insurance-related areas. “There have been improvements in infrastructure and reforms, but more focused action is needed to position insurance as an economic pillar,” he said.He encouraged the government to be more innovative and deliberate in supporting the sector by removing regulatory barriers and tapping into emerging areas like the blue economy. “When the reform bill becomes law, it will unlock new opportunities for insurance and bolster its GDP contribution. “The government must empower the industry to support itself—and, in doing so, move closer to the $1 trillion economy target,” he said. (NAN)

The Lagos State High Court will begin its annual vacation on July 21 to end the 2024/2025 legal year of the state judiciary.This is contained in a notice dated June 5 and signed by the State Chief Registrar, Mr Tajudeen Elias.According to the notice, the vacation will end on Sept.

12.Elias stated that the State Chief Judge, Justice Kazeem Alogba, approved the annual vacation pursuant to Order 49, Rule 4(D) of the High Court of Lagos Civil Procedure Rules, 2019. However, he noted that the Criminal Division of the High Court would continue to sit during the vacation.Elias said: “Notwithstanding the long vacation, the Criminal Division of the High Court of Lagos State may sit throughout the period of the vacation.“Where a judge of a criminal division is on vacation, a vacation judge may be assigned to deal with all pending criminal cases in that court.“Notwithstanding the long vacation, any case or matter may be heard by a judge during the period of vacation (except on a Sunday or public holiday).“Where such case or matter is urgent, a judge will, at the consent of all parties concerned, agree to hear it.”The chief registrar said that any application for an urgent hearing could be made by summons in chambers before the vacation judge or the judge before whom the substantive case was pending.He also stated that the 2025/2026 legal year of the state judiciary would begin on Sept.15, while the new legal year service would take place on Sept. 22. (NAN)

Two clerics, Bishop Charles Ighele and Prof. Amidu Sanni, on Monday faulted calls for establishment of federal ministry of religion.They said that establishment of such a ministry would stir disharmony among religious groups and create other problems.Ighele, a Christian cleric, and Sanni, a Muslim cleric, spoke in interviews on Monday in Lagos.

They reacted to calls in some quarters for establishment of the ministry to support religious affairs more. Ighele, the General Superintendent of Holy Spirit Mission, Ikeja, said that establishment of the ministry would not contribute to the much-needed human capital development.“I do not see any need for the ministry. I do not see how this will contribute to human capital development and other forms of development.“Instead, it will increase the already over-bloated cost of governance.“The first area of major dispute is likely to be whether a Christian or a Muslim or a traditional worshiper should be the first minister,” he said.Ighele told NAN that disputes over unequal representation of different religions in the hiring of personnel for the ministry would likely have no end.“The energy needed for national development will be diverted into endless disagreements,” he said.Sanni, the Chief Imam of Lagos State University, said that there was no need to contemplate establishing such a ministry.According to him, dedicating a ministry to religion will fuel religious intolerance.“There are intra and inter-religious disharmony already retarding national progress. Creating the ministry will cause more problems.“The first major problem will be in the leadership and personnel.“Will it be headed by a Muslim, a Christian, a traditionalist, or an atheist?“As a matter of fact, government should hands off all matters of religion and limit its involvement only to enablement of pilgrimage to Saudi Arabian, Rome and Israel,” he said.He said that religious education in schools should be encouraged with proper curriculum and personnel to enhance religious tolerance and peaceful coexistence. (NAN)