The Nation Newspaper

Category: Pension

  • Lasaco Assurance hosts customer forum in north

    Lasaco Assurance hosts customer forum in north

    In a demonstration of its continued commitment to customer-centricity, innovation, and market leadership, Lasaco Assurance Plc has convened its 2025 Customer Forum for the Northern Region at the prestigious A-Class Park, Maitama, Abuja.

    The forum brought together a customers, including policyholders, brokers, corporate clients, and industry partners, to engage in a robust dialogue aimed at enhancing service delivery and aligning offerings with the evolving expectations of the Northern market.

    In his opening remarks, Regional Manager (Northern Region), Mr. Kunle Hamza underscored the company’s unwavering dedication to stakeholder engagement as a foundational pillar of its growth strategy.

    He emphasized that customer insights remain integral to shaping policies, refining service processes, and reinforcing the company’s brand promise.

    Read Also: NASS to initiate Bill to swear-in President-elect in Legislative Chamber

    Delivering the keynote address, Managing Director, Mr. Razzaq Abiodun, provided an overview of Lasaco assurance’s recent performance and strategic priorities.

    He highlighted the company’s consistent premium income growth, bold digital transformation agenda, and ongoing operational restructuring designed to ensure responsiveness and resilience in a dynamic insurance landscape.

    Abiodun reiterated Lasaco assurance’s resolve to continually invest in technologies and systems that deliver tangible value to clients and drive industry innovation.

    Addressing the customers, Head of Strategy, Mr. Adedayo Adetokun affirmed that Lasaco assurance is actively developing multiple digital platforms to cater to various customer segments—part of a broader digital innovation roadmap that positions the company for future growth.

     He noted that human capital development is also being prioritized, with targeted investments in talent acquisition and training to enhance operational capacity.

  • Continental Reinsurance gets GMD, directors

    Continental Reinsurance gets GMD, directors

    Continental Reinsurance Holdings has appointed the former Managing Director/CEO of Continental Reinsurance Plc, Nigeria, Lawrence Nazare, as its new Group Managing Director.

    The group also announced several key leadership changes.

    Joining Nazare on the Board of Continental Reinsurance Holdings are two non-executive directors: Mr Paul Kokoricha, former Chairman, Continental Reinsurance Plc, now Chairman of the Group Board and Mr Steve Iwenjora, formerly a Non-Executive Director at Continental Reinsurance Plc, who has now been appointed a non-executive director at Group level.

    Read Also: Tinubu inaugurates upgraded ICC, vows to revive infrastructure across sectors

    At its Nigerian entity, a new CEO and board members were also appointed. Dr Fatai Lawal has been appointed Managing Director/CEO of Continental Reinsurance Plc, Nigeria, with effect from April. The Nigerian entity also got three new non-executive directors, whose appointments have been cleared the National Insurance Commission.

    They include Mr Segun Adebanji,  chairman of the Board and Non-Executive Director. Adebanji is a veteran finance professional and Fellow of the Chartered Association of Certified Accountants and the Institute of Chartered Accountants of Nigeria; Mrs Funmilayo Omokhodion, a Non-Executive Director. Omokhodion, is a Chartered Insurer with 36 years of experience in reinsurance, and Mrs Eno Atoyebi, also a non-executive director.

  • Heirs Insurance Essay contest to award pupils, teachers N10.5m prizes

    Heirs Insurance Essay contest to award pupils, teachers N10.5m prizes

    • Applications open

    Heirs  Insurance Group has opened applications for its Essay Championship, targeted at Junior Secondary School pupils. This year’s edition features N10.5 million prizes.

    The winning pupil will receive a N5 million scholarship with a N1 million education grant for their school. The first and second runners-up will receive N2 million and N1 million scholarships.

    In addition, insurance-focused themes and quizzes have been embedded in the application for pupils, ensuring early engagement with insurance.

    Read Also: NASS to initiate Bill to swear-in President-elect in Legislative Chamber

     To participate, pupils must submit original essays of not more than 500 words on the topic: “The role of insurance in keeping families safe and secure” via the website, www.heirsinsurancegroup.com/essay. Submissions are open from May 27 to July 8, 2025.

    All entries will be evaluated by renowned academics, with a quality assurance conducted by Deloitte & Touche to ensure transparency and fairness.

  • Lasaco Assurance hosts customer forum in Abuja

    Lasaco Assurance hosts customer forum in Abuja

    In a demonstration of its commitment to customer-centricity, innovation, and market leadership, Lasaco Assurance Plc has held its Customer Forum for the Northern Region at  A-Class Park, Maitama, Abuja.

    The forum brought together customers, policyholders, brokers, corporate clients, and the company’s partners.

    Lasaco Assurance Managing Director, Mr. Razzaq Abiodun, provided an overview of Lasaco assurance’s recent performance and strategic priorities.

    He highlighted the company’s consistent premium income growth, bold digital transformation agenda, and ongoing restructuring designed to ensure responsiveness and resilience.

    Abiodun reiterated Lasaco assurance’s resolve to continually invest in technologies and systems that deliver tangible value to clients and drive industry innovation.

    Read Also: Tinubu inaugurates upgraded ICC, vows to revive infrastructure across sectors

    The company’s Regional Manager (Northern Region), Mr. Kunle Hamza, underscored the company’s dedication to stakeholder engagement as a foundational pillar of its growth strategy.

    He emphasised that customer insights remain integral to shaping policies, refining service processes, and reinforcing the company’s brand promise.

    The firm’s Head of Strategy, Mr. Adedayo Adetokun affirmed that Lasaco assurance is developing multiple digital platforms to cater to various customer segments. He noted that human capital development is also being prioritised, with targeted investments in talent acquisition and training to enhance operational capacity.

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    ADEKUNLE: Dear Omobola, I and some of NITEL and MTEL retiree did our verification since January 20I8 and we are yet to get our due pension from PTAD. We are about 48 in number and our names have been forwarded to PTAD since 2020, but PTAD said we should exercise patient. I received five years pension in 2007, 2009, 2010 respectively. Kindly help us.

    PTAD: We contacted this Pensioner on 08050772683 to provide his verification slip or BVN as the account number he provided (6050283692) is not in our record. But he said he was not at home to provide it.

    EKEKPOROH: My name is Ekekporoh. My complaint is on nonpayment of pension arrears. I was paid some arrears in August 2024 and December to January 2025.

    Read Also: PTAD: Resolving pensioners’ issues

    PTAD: We aware of the nonpayment 20 per cent ad 28 per cent of this pensioner, he is among the list of those that are yet to be paid. Please be informed the arrears are paid in batches and the N32 naira increment will also be paid as soon as the fund are available.

    ONIPEDE: Good day, my name is Onipede, I am a severance retiree of February 2007. We were short paid of gratuity and the monthly pension from the inception was wrong payments till date. This made all the increments and amendment have no effect on our monthly pension. Also, the federal government circular of ‘Consequential Adjustment in Pension Arising from the Implementation of National Minimum Wage’ with effective date April 18, 2019 has not been effected for NIPOST retirees. Early this year, your office issued a communiqué that the all anomalies will be corrected by March 2024. But to our surprise it was not done till date. Why is this so? Also why did the core ministries retirees receive 45 per cent more than NIPOST. This is even as parastatals like Power Holding, NITEL and others are receiving better pension. I want to know what type of parastatal is NIPOST.

    PTAD: Kindly provide us with the hardcopy of your Bank Statement from retirement till date to enable us process your complaint of non-payment of gratuity. Also note that you are required to attach a complaint letter addressed to the Executive Secretary and also note that we are in the process of reviewing and re-computing all the Back End Computation.

    OLIYE: Good day, I am CSPD pensioner. I retired from Federal Ministry of Education. My pension I have not yet receive my 20percent pension areas and 32 pension areas.

    PTAD: We are aware of the nonpayment 20per cent and 28 per cent of this pensioner, he is among the list of those that are yet to be paid. Please be informed the arrears are paid in batches, the N32 naira increment will also be paid as soon as the fund are available.

  • PTAD, BPE join forces on pension management

    PTAD, BPE join forces on pension management

    The Pension Transitional Arrangement Directorate (PTAD) and the Bureau of Public Enterprises (BPE) have agreed to establish a specific-purpose administrative arrangement for the joint review and quick resolution of operational issues that are relevant to the delivery of their respective mandates for pensioners under the Defined Benefit Scheme (DBS).

    Both agencies reaffirmed their commitment to strengthening collaboration in the management of pensions under the DBS.

    This renewed commitment was made during a courtesy visit by PTAD’s Executive Secretary, Tolulope Odunaiya, to the Director General of BPE, Mr. Ayodeji Ariyo Gbeleyi, at his Abuja office.

    Odunaiya acknowledged the Bureau’s longstanding partnership with PTAD, particularly since the Directorate assumed responsibility for managing the pensions and retirement benefits of Federal Government Retirees from various Defunct and Privatised Agencies affected by the 1999–2005 Public Enterprises Privatisation and Commercialisation Reform.

    Read Also: PTAD: Resolving pensioners’ issues

    She stressed PTAD’s commitment to enhancing Pensioners’ welfare.

    “We deeply value the enduring collaboration between PTAD and BPE and count on your continued support as we pursue our shared mandate of protecting the rights and dignity of Pensioners,” she stated.

    In response, Mr. Gbeleyi welcomed the renewed partnership and pledged the support and commitment of BPE for the initiative.

    He stressed that the agreement aligns with the Renewed Hope Agenda of the President and the Federal Government’s objective of fostering positive and impactful inter-agency collaboration.

  • Investment, non-interest banking practitioners need dialogue on ethical finance, says PenOp

    Investment, non-interest banking practitioners need dialogue on ethical finance, says PenOp

    There is an urgent need for dialogue between investment and non-interest banking practitioners to close the information gap and encourage wider participation in ethical finance options that avoid usury.

    Besides, inclusivity and ethical investment are crucial.

     Against this background, stakeholders in the industry convened an Investment Knowledge Session themed “Demystifying non-interest Shari’ah-compliant investments” in Lagos.

    Read Also: PenOp unveils pension fund managers’ sentiment report

    The session focused on raising awareness about non-interest financial products, addressing misconceptions, and exploring the increasing relevance of Fund VI under the Multi-Fund Structure of industry.

    Chief Executive Officer, Pension Fund Operators Association of Nigeria (PenOp),Oguche Agudah, recalled that earlier in the year, the regulator had inaugurated the Pension Industry Non-Interest Advisory Committee (PINAC).

  • Leadway Pensure PFA advocates inclusion

    Leadway Pensure PFA advocates inclusion

    Leadway Pensure PFA has highlighted the urgent need to bring the informal sector into pension early.

    This strategic inclusion is critical for providing financial security and reducing retirement poverty for workers outside the formal system.

    The company made the call during the Inspensonline Retirement Summit,with the theme, “Attaining good retirement amid economic headwinds.”

    Representing the Executive Director, Sales & Investment, Oluwafemi Adebayo, Head High Networth Clients (HNC) Unit, Leadway Pensure PFA, Mr. Olugbenga Oriowo, focused on the necessity of leveraging the micro pension scheme to alleviate poverty among individuals in the informal sector.

    Oriowo analogised life stages to the universal need for structured financial planning, regardless of one’s employment.

    He underscored the gap in pension coverage in Nigeria’s vast informal sector, highlighting the  paradox given its contribution to the economy.

    Noting the critical challenge, he said: “While Nigeria’s informal sector comprises an estimated 75 million individuals, representing a significant economic force, only a fraction, roughly 0.23 per ent as of February 2025 are enrolled in the Micro Pension Scheme.

    Read Also: Leadway celebrates one year of empowering women

    “These are our friends, family members, drivers, and domestic workers. The key question to address is; what happens when these individuals reach their elderly years without a financial safety net? Without efforts to educate and encourage enrolment in the micro pension scheme, there is a risk of poverty, placing an undue burden on future generations. It is incumbent upon stakeholders to drive this essential financial literacy and inclusion.”

    He acknowledged efforts by regulators and PFAs to simplify micro pension contribution, including digital remittance.

    Discussants shed light on financial habits, contrasting the billions spent yearly on speculative activities like betting with the low penetration of micro pension accounts.

    Oriowo reiterated Leadway Pensure’s stance on advancing financial literacy and inclusion, particularly in the informal sector.

     The PFA is focused on simplifying enrolment, requiring only a National Identity Number and a valid ID, and leveraging technology, including USSD codes, to make contributions accessible and help more Nigerians build towards a comfortable and financially independent retirement, he added.

  • PenOp appoints Ifeanyi-Okoro as COO

    PenOp appoints Ifeanyi-Okoro as COO

    Pension Fund Operators Association of Nigeria (PenOp) has appointed Anthonia Ifeanyi-Okoro as its Chief Operating Officer (COO).

    In a statement, PenOp said Ifeanyi-Okoro has over 15 years’ experience in business transformation, operations, and strategic delivery.

    The statement read: “She has worked in a range of high-impact roles across business member organisations and central government institutions in the United Kingdom. Her career has seen her lead and manage major portfolios, programmes, and stakeholder engagements—skills that are critical to the evolving needs of the Nigerian pension industry.’’

    Read Also: PenOp: new mortgage policy will catalyse pension, boost economy

    Chief Executive Officer, PenOp, Oguche Agudah, said: “Ifeanyi-Okoro’s experience working with diverse and influential stakeholders, in the private and public sectors, makes her a valuable addition to the PenOp team. Her appointment is a strategic step toward strengthening our organisation to better support the pension industry and deepen its role in Nigeria’s economic growth.’’

  • AIICO Insurance donates to Bethesda Home

    AIICO Insurance donates to Bethesda Home

    AIICO Insurance Plc has visited the Bethesda Home & School for the Blind and donated essential food items and gifts as part of its activities to celebrate Children’s Day. 

    The company’s staff members also donated a cake to the 286 children of the Home.

    AIICO’s Corporate Responsibility and Sustainability Manager, Mrs. Abimbola Shobanjo emphasised the importance of inclusion in society.

    She said: “Children’s Day is a reminder of the hope that young lives carry. At AIICO, we are intentional about reaching every child, especially those who are less privileged or differently abled. Our visit to Bethesda is about more than giving; it’s about recognising their worth, reminding them that they matter, and reaffirming our belief that they belong and have a bright future ahead.”

     Bethesda Home & School for the Blind management expressed appreciation for the visit and generosity shown by AIICO.