Author: The Nation

  • PTAD disburses N3.9 billion arrears to 91,146 eligible pensioners

    PTAD disburses N3.9 billion arrears to 91,146 eligible pensioners

    The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of N3.9billion arrears to 91,146 eligible pensioners under the Defined Benefit Scheme (DBS)., the Executive Secretary , Tolulope Odunaiya, has said.

    This payment according to her, is part of the N32,000 increment approved by President Bola Ahmed Tinubu.

    Odunaiya reaffirmed the Federal Government’s commitment to settling outstanding arrears and improving Pensioners’ welfare under the Renewed Hope Agenda of President Tinubu.

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    Giving a breakdown of payment in a statement made available to journalists, she stated  that N1.9 billion was paid to 59,865 pensioners under Parastatals Pension Department while N830 million was paid to 12,976 Pensioners under Civil Service Pension Department

    She disclosed that 9,689pensioners under Police Pension Department received N620 million while 8,616 pensioners under Customs, Immigration, and Prisons Pension Department received N551million.

  • SUNU Assurances shareholders approve N9b Recapitalisation Plan

    SUNU Assurances shareholders approve N9b Recapitalisation Plan

    Shareholders of SUNU Assurances Nigeria Plc have unanimously approved a comprehensive recapitalisation programme that will enable the company raise up to N9 billion to meet the new Minimum Capital Requirement (MCR) for non-life insurers under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

    The approval was granted at the company’s Extraordinary General Meeting (EGM) held on Tuesday in Lagos, which recorded an impressive physical turnout of shareholders.

    The resolutions empower the Board of Directors to raise capital through a mix of rights issues, private placements, public offers or any other fundraising structure, subject to regulatory approval. The board was also authorised to increase the company’s share capital as required, allot new shares, trade untaken rights, engage advisers, and register all changes with the Corporate Affairs Commission.

    Speaking at the meeting, Chairman of the Board, Mr. Kyari Abba Bukar, said the recapitalisation was necessitated by the NIIRA 2025 regime, which raised the MCR for non-life insurers from N3 billion to N15 billion, with a compliance deadline of July 30, 2026.

    “As at September 30, 2025, the company requires N9 billion to close the gap. This makes it imperative that we take decisive action to strengthen our capital base,” he said.

    Bukar added that the recapitalisation would enhance SUNU’s balance sheet, deepen underwriting capacity, attract fresh investment and reinforce market presence. He also disclosed that the company plans to address its free-float deficiency on the Nigerian Exchange (NGX) as part of the capital-raising exercise.

    He noted that SUNU has maintained strong dividend consistency for the past four years and has continued to grow shareholder value.

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    Speaking to journalists after the meeting, Bukar stated: “We will go in full force using a combination of rights issue, public offer, private placement or strategic investment. The goal is to meet NAICOM’s requirement ahead of the July 2026 deadline.”

    Managing Director/CEO, Mr. Samuel Ogbodu, revealed that the SUNU Group, which currently holds 83% equity, intends to reduce its stake to 70% to enable more Nigerian investors participate in the company.

    “This EGM was crucial for transparency and shareholder involvement. We now have full authority to proceed with the capital raise,” Ogbodu said.

    He added that SUNU’s share price, which once rose to N11 and now trades between N4.70 and N5.70, is expected to double within six months based on the company’s growth plans.

    Executive Director, Mr. Elie Ogounigni, reaffirmed SUNU Group’s commitment to the Nigerian market, saying:

    “When SUNU gives its word, we keep it. We are in 17 countries, and we intend to ensure full compliance and support SUNU Nigeria through this recapitalisation.”

  • PenCom embarks on customer satisfaction survey

    PenCom embarks on customer satisfaction survey

    The National Pension Commission (PenCom) has commenced the 2025 Annual Customer Satisfaction Survey for active contributors and retirees under the Contributory Pension Scheme (CPS).

    The commission made this known while calling on the public and all stakeholders to participate in the survey.

    In a statement, PenCom said the survey, which began on November 3, 2025, will run until December 17.

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    The survey, the commission said, is designed to assess customer satisfaction, brand awareness, and pension literacy among Retirement Savings Account (RSA) holders and retirees under the scheme.

    PenCom encourages all active contributors and retirees to kindly complete the survey.

    The link for the survey can be found on the commission’s website and on social media handles.

  • Leadway Assurance announces Adebisi Lamikanra as first female Board chairperson

    Leadway Assurance announces Adebisi Lamikanra as first female Board chairperson

    Leadway Assurance, Nigeria’s leading insurance company, has announced the appointment of Mrs. Adebisi Lamikanra as the new Chairperson of the Board, following the tenure expiration and formal retirement of General (Rtd) Martin Luther Agwai, who has admirably served as Board Chairman since November 2016.

    In a statement made available by the company, Mrs. Lamikanra is a Chartered Accountant and Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

    According to the company, she brings nearly four decades of exceptional leadership and advisory experience to the role.

    The statement read: “She was a Partner at Andersen Nigeria and made history as the first female Partner at KPMG Nigeria, where she retired as Head of Advisory Services and Lead for the African Region Advisory Practice.

    “Her career has been defined by strategic consultancy to leading local and multinational organisations across sectors. A proud alumna of the University of Lagos and the Lagos Business School, she has also honed her leadership skills through advanced executive programs at Harvard Business School, INSEAD University, and the Kellogg School of Management.

    “Mrs. Lamikanra currently serves on the boards of Standard Chartered Bank Nigeria, Evercare Hospital Lekki, and Nestle Nigeria, where her governance acumen and cross-sector insights continue to shape corporate excellence”.

    Speaking on the appointment, the outgoing Chairman, General (Rtd) Martin Luther Agwai, expressed his confidence in Mrs. Lamikanra’s leadership, stating, “It has been a profound honour to serve Leadway Assurance, a company that continues to define trust and innovation in Nigeria’s financial services sector. As I pass the baton, I take pride in the enduring culture of excellence we have built together. Mrs. Lamikanra’s appointment represents a seamless continuation of this legacy; her integrity, professionalism, and wealth of experience will ensure that Leadway continues to grow stronger and advance firmly into its next chapter of success.”

    The company further stated that under General Agwai’s stewardship, Leadway Assurance achieved significant milestones, including restructuring into a holding company, expanding across West Africa, and solidifying its position as one of the West Africa’s most trusted financial services institutions.

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    “His tenure will be remembered for stability, innovation, and a commitment to governance excellence. His exit, after his successful tenure, reinforces Leadway’s penchant for uploading good governance principles”.

    Meanwhile, speaking on her appointment as the first female Board Chairperson of the Company, Mrs. Lamikanra expressed gratitude and optimism about the company’s future.

    “I am deeply honoured to assume this responsibility at such a pivotal moment in Leadway Assurance’s journey. The organization’s legacy of trust and innovation, built over five decades, continues to inspire confidence in Nigeria’s financial ecosystem”, she said.

    She expressed gratitude to her predecessor, Gen (Rtd.) Martin Luther Agwai, recognizing his outstanding leadership and mentorship skills in steering the affairs of the Board during his tenure as the Board Chairperson.

    She further called on the Board, management, and all stakeholders to collaborate and work together in strengthening the Leadway legacy, driving sustainable growth, advancing digital transformation while reinforcing Leadway’s role as a catalyst for financial inclusion and economic development.

    Mrs. Lamikanra’s appointment signals a continuation of this legacy, blending experience, foresight, and the dynamism required to navigate Nigeria’s evolving financial landscape. Her leadership is expected to strengthen further the organisation’s culture of excellence, innovation, and sustainable growth.

  • STI preaches caution at Ember month

    STI preaches caution at Ember month

    Sovereign Trust Insurance Plc has called on Nigerians to be safety-conscious during this  ‘ember’ months so as to safeguard lives and properties.

    The Managing Director, Olaotan Soyinka in a statement, said the possession of insurance policies should not be a reason for carelessness by holders of such policies.

    He stated that while it is generally known that accidents are common during the ‘ember’ months as a result of increased activities during the period with people rushing to meet up with their goals as the year rounds up.

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    He advised that even in the midst of such activities; people should still exercise caution so that we do not get involved in unnecessary mishaps that could have been averted.

     He said: “While it is not in dispute that insurance helps to mitigate against risks, it should not be taken as a licence to throw caution to the wind and be careless. Rather, insurance should be seen as a respite in case of the unforeseen and inevitable.

    ‘‘It is widely known that cases of motor crashes, fire outbreaks and other perils are usually on the increase during the last months of the year, hence the need for caution to be exercised by all and sundry so as to prevent such misfortunes””, he added.

  • Linkage Assurance launches Mobile App to deepen digital insurance access

    Linkage Assurance launches Mobile App to deepen digital insurance access

    As part of its strategic commitment to enhance customer experience and expand digital access to insurance services, Linkage Assurance Plc has launched its new mobile application, now available for download on both iOS and Android platforms.

    The Linkage Assurance App offers Nigerians a seamless, secure, and convenient way to purchase, verify, and manage motor insurance policies anytime, anywhere. With just a few taps, users can obtain genuine motor insurance certificates, renew existing policies, and access instant customer support—all from their mobile devices.

    Speaking on the innovation at the official launch in Lagos , the Managing Director/CEO of Linkage Assurance Plc, Mr Daniel Braie described the launch as a major milestone in the company’s ongoing digital transformation journey.

    He said: “Our goal is to make insurance simple, transparent, and accessible to everyone. The Linkage Assurance App demonstrates our commitment to customer-centric innovation and our vision of deepening insurance penetration through technology.

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    “The App features secure payment integration, a real-time policy management dashboard, and 24/7 customer assistance, ensuring that policyholders enjoy a smooth, convenient, and trustworthy digital experience”.

    “While the current version focuses on motor insurance, the company noted that plans are already underway to expand the App’s functionality to include other product lines—such as general, retail, and corporate insurance solutions—in future updates”, he noted.

    Industry observers note that the rollout of the Linkage Assurance App highlights the growing importance of digital innovation in Nigeria’s insurance sector, as firms adapt to evolving customer expectations and the need for speed, convenience, and accessibility in financial services.

    The company emphasized that the App will not only enhance convenience for existing customers but also help attract new users, particularly among younger, tech-savvy Nigerians who prefer mobile-enabled financial solutions.

    Consumers can now download the Linkage Assurance App from the Google Play Store or Apple App Store to experience a smarter and more convenient way to stay insured.

    Linkage Assurance Plc is one of Nigeria’s leading insurance companies, providing innovative risk management and financial protection solutions across motor, fire, marine, engineering, agriculture, general business, oil & gas, and other specialized lines. The company remains committed to delivering excellent customer service, digital innovation, and sustainable value creation for all stakeholders. AM Best, a global credit rating agency, has assigned Linkage Assurance Plc a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating.

  • Shettima: Fed Govt committed to supporting local production

    Shettima: Fed Govt committed to supporting local production

    Vice President Kashim Shettima has reaffirmed the Federal Government’s commitment to deepening support for local production.

    Shettima, who was represented by the Special Adviser on Special Duties, Dr. Aliyu Modibbo Umar, spoke yesterday in Abuja at the Made-in-Naija Trade Exhibition organised by the House of Representatives Committee on Commerce.

    The Vice President said Nigeria’s economic identity and global relevance would be defined by what it creates.

    He said Nigeria’s future depends on the creativity, ingenuity, and enterprise of its people.

    “There is nothing that advertises the pride of a nation as much as the craft, creativity and conceptions of its people,” Shettima said. “They do more than signal the capability of the people. They serve as a fertiliser of the economy. They nourish every sector and give life to dreams yet to be imagined,” he said.

    According to him, the gathering was more than an exhibition but a statement of intent.

    “This is both the assurance of our readiness to make Nigerian brands appeal to the world and a promise of the government’s commitment to work with you through this journey of transformation,” Shettima said.

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    The Vice President stressed that the country’s wealth does not lie in oil fields, fertile land, or mineral deposits, but in what Nigerians are able to turn those resources into.

    “Our fortune is what we make of these resources, the ambition that turns potential into prosperity. It rests on the shoulders of our most valuable asset, our human capital,” he said.

    Shettima stressed that Nigeria’s brilliance has been demonstrated in multiple sectors – from agro-processing to architecture, textiles to technology, and manufacturing to music.

    But the Vice President warned that creativity is not enough if Nigerians fail to support what they produce.

    “It is not enough for us to produce. We must patronize what we produce. Every time we choose a product manufactured here, we are making an investment, in a Nigerian entrepreneur, an artisan, a factory worker, a young graduate building a future.”

    According to him, buying Nigerian strengthens the naira, supports jobs, reduces dependence on global supply chains, and nurtures a sustainable middle class.

    Shettima noted that the target goes beyond self-reliance.

    “Made in Nigeria must become synonymous with quality, innovation and competitiveness on the global stage. We have the resources, we have the creativity, we have the human capital. What remains is our resolve,” he added.

    The Vice President said President Bola Ahmed Tinubu considers local creators and producers as essential partners in national renewal, describing his administration as “a dreamland for those who create”.

    He outlined ongoing government efforts to make Nigeria a manufacturing and innovation hub, including interventions built to remove barriers and expand market opportunities for MSMEs and local industries.

    “Our administration is committed to providing the infrastructure, stable policies and essential finance needed for our local industries to scale up, meet international standards, and proudly export Nigerian excellence to the world,” Shettima said.

    He said the government was establishing special economic zones, expanding access to financing, reforming ports, and ensuring certification systems meet global benchmarks.

    “With the world’s highest quality, we want the answer to be Nigeria,” Shettima said.

    The Vice President described the Made-in-Naija exhibition as a symbolic declaration of confidence in Nigerian talent, and a refusal to let others define the country’s global identity.

    “Nigeria is not a country waiting to be defined by others. We are determined to define ourselves. If we remain steadfast, producers and consumers, government and industry, artisans and policymakers, we will build a Nigeria where Made in Nigeria is not a sentimental choice, but a global reference,” he stressed.

  • Tech will end identify theft as protracted challenge, says INEC chairman

    Tech will end identify theft as protracted challenge, says INEC chairman

    The Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Ojo Amupitan, has said identity theft remains a protracted challenge in Nigeria’s elections.

    Amupitan spoke yesterday in Abuja at the 2025 Digital Nigeria International Conference and Exhibitions organised by the National Information Technology Development Agency (NITDA).

    The INEC chairman said the deployment of the Bimodal Voter Accreditation System (BVAS) would effectively address the issue of identity theft.

    Represented by a National Commissioner and former Acting Chairman of the commission, Mrs. May Agbamuche-Mbu, the INEC chairman said the era of multiple voting and identity fraud was over.

    He said the BVAS signposted a milestone in the nation’s democratic history, having become a ‘foolproof mechanism’ for verification.

    “The BVAS device has become our frontline defence against identity fraud, ensuring that only the rightful and eligible voters can be accredited at the polling unit. With the biometric safeguards now in place, voter impersonation has been effectively eliminated from our electoral system,” he said.

    Amupitan backed his assertion with BVAS data from the recently concluded Anambra State governorship election, saying the 6,879 BVAS devices configured and deployed for the poll recorded a highly commendable performance.

    According to him, over 99 per cent of polling unit results were uploaded to the INEC Result Viewing (IReV) portal on Election Day.

    “These outcomes confirm that the deployment of BVAS and IReV is no longer experimental but an entrenched part of Nigeria’s electoral architecture. The figure announced at the polling units is the same figure visible to the public. Technology has safeguarded the vote,” Amupitan said.

    The INEC chairman reminded the audience that previous technologies, while innovative, lacked the “teeth” of the law, leaving the commission vulnerable to technicalities in election tribunals.

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    But that situation shifted with the Electoral Act 2022.

    He highlighted Section 47(2) as the watershed provision that transformed digital devices from mere administrative guidelines into “statutorily protected pillars” of the electoral system.

    Amupitan said: “This legislative foundation ensures that our digital tools have both operational and legal legitimacy. It has strengthened public trust and enabled the commission to innovate with confidence.”

    But the law professor  admitted in the keynote address that while voter impersonation and multiple voting had been largely tackled with BVAS, connectivity remained a logistical headache.

    Amupitan said: “While the commission’s steady deployment of technology has boosted credibility, it is by no means a cure-all. He pointed to the nation’s uneven telecommunications landscape as a stubborn obstacle.

    “With 176,846 polling units tucked into swamps, perched on mountains, and hidden in far-flung communities, achieving real-time upload of Polling Unit results to the INEC Result Viewing Portal remains one of the toughest battles for transparency on Election Day.“A tool like the BVAS is only as good as the network it runs on,” he admitted, noting that the commission will continue to engage the NCC and network providers to find ways of addressing the challenge, while actively exploring alternative technologies to bridge the gaps.

    Despite these technology challenge, the Amupitan sent a strong signal to the political class that there is no U-turn in deploying technology for elections in the country. He firmly shut the door on any suggestions of returning to manual procedures, describing the old model of manual accreditation as “vulnerable to human interference”.

    He added: “The gains we have recorded are too significant to reverse.”

  • ‘Support your husbands’ success in new national security roles’

    ‘Support your husbands’ success in new national security roles’

    • First Lady hosts service chiefs’ wives

    The First Lady, Senator Oluremi Tinubu, yesterday urged the wives of newly appointed service chiefs to fully support their husbands as they assume critical national security roles.

    She said their complementary responsibilities are vital to the fight against insecurity.

    “You are playing the supportive and complementary role to them. I expect that you will work hard with your husbands to meet the expectations of the Commander-in-Chief and Nigerians in the fight against insecurity,” Senator Tinubu told the women while hosting them at the State House in Abuja.

    The First Lady said the service chiefs had signed up to protect the nation “at the expense of their own lives,” and prayed for their success as they undertake their new assignments.

    A statement by her Senior Special Assistant on Media, Busola Kukoyi, said the First Lady reminded the service chiefs’ spouses that the demands of the moment require collective sacrifice, commitment, and unwavering support on the home front.

    Before the meeting started, the First Lady had called for a minute of silence in honour of the Vice Principal of Government Girls’ Comprehensive Secondary School, Maga, Kebbi State, who was killed during the recent abduction of 25 schoolgirls.

    She condemned the attack as “very unfortunate and sad,” calling it a painful reminder of the urgent security challenges confronting the nation.

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    Senator Tinubu also urged her guests to continue prioritising care for the elderly, announcing that the Renewed Hope Initiative (RHI) would hold its annual RHI/Elderly Support Programme nationwide in December, with military veterans among the beneficiaries.

    Responding on behalf of the delegation, the wife of the Inspector General of Police (IGP), Mrs. Elizabeth Egbetokun, praised the First Lady for her sustained empowerment initiatives, scholarship awards, provision of healthcare consumables, and other interventions benefiting vulnerable Nigerians.

    In a separate engagement, Mrs. Tinubu hosted the management of the Federal Road Safety Commission (FRSC) during which Corps Marshal Shehu Mohammed decorated her as the Grand Matron of the Road Safety Special Marshal.

    Senator Tinubu thanked the commission for the honour and called for greater adoption of technology and improved inter-agency collaboration to reduce road accidents.

    She expressed hope for stricter enforcement of speed limits through modern systems and urged the deployment of more FRSC personnel nationwide during the upcoming yuletide season.The First Lady said these measures would significantly help to reduce crashes and enhance safety on Nigerian roads.

  • Tinubu, Akume mourn Newswatch co-founder Agbese

    Tinubu, Akume mourn Newswatch co-founder Agbese

    President Bola Ahmed Tinubu and the Secretary to the Government of the Federation (SGF), Senator George Akume, have expressed deep sorrow over the death of veteran journalist and Newswatch co-founder, Chief Dan Agbese.

    The President described his passing as a painful and monumental loss to Nigeria’s media landscape.

    Agbese, a celebrated writer, editor, and respected public commentator, died on Monday in Lagos. He was 81.

    He held the traditional title of Awan’Otun of Agila in Ado Local Government Area of Benue State.

    In a statement yesterday in Abuja by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, President Tinubu described Agbese as a towering figure whose work helped to redefine journalism practice in the country.

    The President recalled that Agbese, along with his colleagues at the trailblazing Newswatch weekly magazine, ushered in a new era of investigative and interpretative reporting that set enduring standards for professionalism, ethics, and courage in the media.

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    Akume described Agbese’s death as a colossal national loss, saying his passing has created a vacuum that will be difficult to fill.

    The SGF said Agbese’s demise came at a critical moment in the nation’s democratic journey.

    He noted that the journalist’s “fatherly role and vast experience” would be deeply missed by the media and the nation.

    In a statement by his Special Adviser on Public Affairs, Terrence Kuanum, the SGF described the late journalist as one of the pioneer trailblazers of Nigeria’s modern press, recalling his prominent role in challenging military rule and championing the restoration of democracy.

    “His death is a monumental national loss. Dan Agbese was a fine gentleman to the core. He was a man of strong conviction with unimpeachable character and unwavering determination to achieve great goals against all odds. His perchance for justice, equity and fairness set him apart from the rest,” he said.

    Akume applauded Agbese’s sharp prose, incisive commentary and decades-long dedication to journalism, saying these helped in shaping modern investigative reporting and Nigeria’s socio-political discourse.

    “The late Dan Agbese was a doyen of journalism and merchant of biting satire. He was such a versatile, bold and confident writer whose quill dripped brutal frankness. A mentor and father that professionally refined his mentees and turned them into masters of the pen craft,” Akume added.

    The SGF urged the Agbese family, friends and colleagues in the media industry to take solace in the exemplary life he lived, praying that God grants repose to his soul.