Tag: Continental

  • Continental Reinsurance’s profit hits N23.51b

    Continental Reinsurance’s profit hits N23.51b

    Continental Reinsurance Plc has announced its financial results for2023.

    Gross Premium Income increased to N112.46 billion, from N86.36 billion in 2022, a 30 per cent rise.

    The net reinsurance service result or underwriting profit reached N9.14 billion in the year under review, compared to N 4.40 billion in 2022, representing a 108 per cent increase.

    Investment and other income grew to NGN 30.61 billion from N5.66 billion in 2022, showing a 440 per cent increase.

    Its profit before tax was N23.51 billion, from N7.17 billion in 2022, a 228 per cent increase.

    Group CEO, Continental Reinsurance, Lawrence Nazare said: “Lagos showed consistent performance with a slight improvement in the combined ratio compared to last year.’’

     It remains a strong contributor to underwriting results and profit before tax (PBT), highlighting operational robustness and profitability. Nairobi improved its combined ratio, reflecting better underwriting discipline. Its contributions to the group’s underwriting results and PBT remain strong, highlighting its importance in our operations.

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    “Gaborone’s better combined ratio indicates improved risk management and operational efficiency. The region’s contributions to both the underwriting result and PBT reflect balanced performance. Tunis improved its combined ratio, contributing significantly to the underwriting result. Its contributions to PBT indicate potential for further profitability enhancement. CIMA showed progress with a considerable reduction in the combined ratio, which is promising for future contributions. The current PBT contribution remains modest.

    “We are very pleased with our financial performance for 2023. The significant growth across various metrics underscores our commitment to delivering value to our clients and stakeholders.  Our successful implementation of IFRS 17, coupled with robust risk management and effective underwriting practices, has positioned us well for sustained growth.  We are particularly proud of our regional performance improvements, which reflect our ongoing efforts to enhance operational efficiency and profitability.’’

  • Continental courts strategise on mandates’ execution

    The African Court on Human and Peoples’ Rights (ACHPR) and the Court of Justice of the Economic Community of West African States (ECOWAS Court) are taking steps to improve on their mandates’ execution. Their representatives met in Abuja to strategise, reports Eric Ikhilae.

    Although they have similar mandates, they have different challenges.

    This much came to the fore at a two-day session held by senior officials of the African Court on Human and Peoples’ Rights (ACHPR) and the Court of Justice of the Economic Community of West African States (ECOWAS Court) in Abuja.

    For the African Court, its major trouble is how to encourage more countries on the continent to utilise its services.

    Although it began operations in 2006, two years after the Protocol to the African Charter on Human and Peoples’ Rights on the Establishment of an African Court  on Human and Peoples’ Rights came into force, the court is not appreciated as it ought to.

    Out of out of Africa’s 55 countries, 30 have ratified the protocol, while only nine have made the declaration.

    This implies that citizens of,  and non-government organisations (NGOs) in the countries that are yet to make the declaration cannot initiates cases in the court.

    Under Article 34(6) of the African Charter on Human and Peoples’ Rights, countries are required to, in addition to ratification, make a declaration recognising the competence of the court to receive cases from NGOs and individuals.

    The nine countries that have so far made the declaration are Benin, Burkina Faso, Cote d’Ivoire, Ghana, Mali, Gambia, Tanzania, Malawi and Tunisia.

    For the ECOWAS Court, it is the problem of non-implementation of its decisions and the reluctance of governments in the sub-region to abide by its judgments and orders

    In the absence of an alternative measure of enforcing its judgment, the recent reduction of judges of the court from seven to five is threatening the increasing relevance of the ECOWAS Court.

    The task of getting around these challenges occupied senior members of both courts during a judicial dialogue session in Abuja.

    It afforded participants the opportunity to share ideas and experiences, with a view to enhancing the discharge of the courts’ judicial mandates – to promote and protect human rights within the framework of the African Charter on Human and Peoples’ Rights.

    African Court’s President Sylvain Ore said the visit underscores the desire of the African Court to  deepen the collaboration between both courts, which should not compete, but work to complement each other.

    Ore said the two-day session was an opportunity to develop a framework for operationalising the memorandum of understanding (MOU) signed between the two courts on March 1, 2018.

    ECOWAS Court’s President,  Justice Edward Asante, highlighted the similarities in their mandates, such as protection of human rights, adding that they both apply the African Charter on Human and Peoples’ Rights.

    Asante, however, noted that unlike the African Court, there is no requirement for the exhaustion of local remedies before accessing the ECOWAS Court.

    He noted that the African Court,  the African Commission on Human and Peoples’ Rights and the ECOWAS Court are key institutions within the African human rights system that must be developed and protected.

    Seven presentations were made in the course of the two-day session, which discussed issues relating to   the unique features of the human rights mandate of the ECOWAS Court; the challenge of access to the African Court and  challenges of enforcement of judgments of ECOWAS Court.

    There were also presentations of the overlapping jurisdictions, privileges and immunity of judges, dialogue with national courts and the review of the MOU.

     

    Way forward

     

    As a way of addressing the low number of African states that have made the declaration to recognise the competence of the African Court, it was suggested that more states should be encouraged to effect the declaration necessary for improved access to the court by NGOs and individuals

    Participants discussed the challenges faced by the ECOWAS Court in the enforcement of its decisions and called for a review of the method of enforcement.

    This, they noted, will give the court an opportunity to provide a report on the status of implementation of its judgments to the Council of Ministers and the Summit of Heads of State and Government of the Community.

    The ECOWAS Court was also urged to take measures to communicate its judgments to the President of the ECOWAS Commission for follow-up actions as envisaged under the relevant ECOWAS Community Texts.

    It was argued that non-compliance with the judgments of both courts affects their credibility and confidence in their ability and capacity.

    Participants were unanimous in urging member states to live up to their treaty obligations by complying with or implementing their decisions.

    The challenge of financial constraints that often hinder  indigent litigants’ access to both courts also engaged participants,who after much discussion, suggested   the institution of a legal aid fund for such litigants in order to deepen access to both courts.

    It was agreed that improved awareness creation among the populace about the activities of both courts was necessary for improved access.

    Participants noted the jurisdictional overlaps in human rights protection between the African Court and the ECOWAS Court.

    They suggested that both courts should adopt measures to mitigate the possible harmful effects of the overlap through dialogue, sharing of jurisprudence and the adoption of measures to address forum shopping by litigants.

    It was agreed that there was the need for  sustainable institutionalization of the judicial dialogue between both courts to allow for experience sharing.

    This is in view  of the similarities of their mandates in human rights protection.

    By institutionliasing the dialogue session, it was envisaged that such session could provide an annual platform for parties to exchange ideas on their mandates and international best practices for their mutual benefit and for collaboration and joint actions.

    As a measure against possible divergent and contradictory interpretations of the African Charter on Human and Peoples’ Rights, it was agreed that mechanisms be created for collaboration, information sharing and joint actions.

    This, it was noted, can be through capacity building, research and training, seminars,  staff exchanges, resource mobilisation for the execution of joint projects, reciprocal representation and  publication and exchange of jurisprudence.

    The African Court delegation, which was in the country from April 29 to May 4, met with Vice President Yemi Osinbajo and representatives of NGOs during a visit to the National Human Rights Commission (NHRC) headquarters.

    It also met with members of the legal community during a visit to the Nigerian Bar Association (NBA) president Paul Usoro (SAN) and the Federal Ministry of Justice.

  • Ifeanyi Ubah on track for continental football, says Loute

    Ifeanyi Ubah on track for continental football, says Loute

    Ifeanyi Ubah are on course to play international football next year after they defeated Kano Pillars 2-1 at home on Sunday, according to defender Isaac Loute.

    The Nnewi club are now eighth on the league table with 40 points after going unbeaten in 10 matches in all competitions.

    “We are grateful to club owner, Ifeanyi Ubah, whose enormous financial support has lifted us and we now want to repay him by playing on the continent next year,” said the Benin international.

    “I am  happy that we have extended our unbeaten run to 10 matches and we are now to pick some points away from home.”

    Loute was up against former club, Kano Pillars on Sunday and he admitted it was “emotional” for him.

    “Kano is like home for me as I played for Pillars for two seasons during which we won the league,” he said.

    “It was always going to be an emotional and difficult game considering the quality of players Pillars parade. So, it was great we won.”

  • Fed Govt lauds labour’s support for continental initiative

    The Federal Government has praised organised labour for its role in the launch of the United Nations’ (UN) Ecosystem-based Adaptation for Food Security Assembly (EBAFOSA) in Abuja last Friday.

    EBAFOSA was formed following  the Second Africa EBA for food security conference convened by the UN Environment Programme (UNEP) in collaboration with the African Union (AU) Commission and partners on last July 30 and 31, where 1200 delegates from Africa adopted the Nairobi Action Agenda and the Constitution, which gave birth to the first ever Africa Ecosystems Based Adaptation for Food Security Assembly (EBAFOSA).

    The international body will serve as the continental policy platform to foster and nurture partnerships through branch formation in each African country.

    Some African countries have since launched their programmes. In Nigeria, the theme for the launch is: ‘Re-shaping Nigeria food security and climate resilience through EBAFOSA”.

    During the committee’s meeting, a representative of the secretariat of the body in Nigeria, Mr. Abass Abdullai of the Federal Ministry of Budget and National Planning, said labour unions could facilitate  logistics necessary to make the launch possible.

    The unions, which sponsor most of the items for the event, include the National Union of Food Beverage Tobacco Employees (NUFBTE); National Union of Hotels and Personal Service Workers (NUHPSW); Food Beverage and Tobacco Senior Staff Association (FOBTOB) and Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI).

    The ministry said it had various opinions on what unions stand for, which was activism, adding that it has understood that unions play vital roles in national development.

    EBAFOSA’s National President , Mr. James Oyesola, said the body is the first pan-African policy framework that provides a platform for stakeholders in the country to collaborate in developing and implementing policy solutions to upscale EBA-driven agriculture, its value chains, industrialisation and job creation in a sustainable way.

    EBAFOSA’s implementation, he said, is categorised into three – introductory, growth and maturity.

    “The introductory phase is considered as the most-crucial as it aims to secure commitment of the vital stakeholders, who will be the foundation of EBAFOSA,” he said.

    Oyesola said EBAFOSA is a treaty and not an organisation, adding that it is a peer-to-peer review to reflect policies that would be acceptable globally.

    He said when launched, EBAFOSA would ensure all hands were on deck with synergies looking at the ministries and stakeholders.

    The president added that EBAFOSA would work with associations, such as All Farmers Association of Nigeria, women allied organisations, including weather agencies, to make food production sustainable.

    Those expected at the launch include international organisations, ministers of Agriculture, Environment, Budget and National Planning.

     

  • Bosso targets continental competition

    Bosso targets continental competition

    With the 2015   league  season scheduled to commence this weekend, coach of Abia Warriors, Ladan Bosso, has posited that the target is to qualify for a continental championship for next season at the very least.

    Abia played in the elite division for the first time last season and came very close to finishing in continental places on the league table, and Bosso says they will be hoping to go one step better this time.

    “We almost got a continental ticket last season. It was a good one seeing that it was our first season in the Premier League and we came as close as we did,” Bosso said.

    “We were also able to beat some of the most revered teams in the league last season and we are hoping to go further this time and that means us getting a continental ticket by the end of the season,” he said.

    Abia Warriors are in Jos this weekend for a date against Giwa FC in their league opener and Bosso reckons they must start picking up points as early as possible.

    “We want to start the season on a very good note and we know we have to do that by winning our games because the league gets tougher from the middle of the season down to the end.”

  • SOFOLUWE TO PILLARS, ENYIMBA: Don’t treat continental assignment with levity

    SOFOLUWE TO PILLARS, ENYIMBA: Don’t treat continental assignment with levity

    Management of league winners Pillars and runners up Enyimba have been told to take preparation for their continental outings seriously if they wish to do well.

    Former international Yisa Sofoluwe, who gave the charge, said there is more to winning the premier league and picking a continental ticket, noting that lack of proper preparation, poor approach to management and over confidence had in the past stopped teams with potentials from achieving set goals.

    The Dean of Defence, as he was fondly called in his days in the national team, added that with the improving standard of play in the league Nigeria ought to start calling the shots at all levels in the continent.  He, however, expressed confidence in the quality of players at the disposal of both teams, insisting that laurels can come on a silver platter, especially with maximum support from their state governments and club management.

    “The league was highly competitive this season and both teams cannot be said to be pushovers, but they must avoid the usual pitfalls like poor preparation and travel arrangement among other things.  If they get the support I think they will do well,” he enthused.

    Sofoluwe, who is being courted by some clubs ahead of the next season, re-echoed the need for all departments of the league to improve so that whoever emerges champion can withstand the heat anywhere.

    “We must continuously improve the league in all aspects, standard of play, officiating, management in fact everything so that whoever wins the league at any point in time can truly beat his chest and be in a position to compete anywhere, but where a team emerges through sharp practice, such as poor officiating, it will tell along the line,” he said in a chat with SportingLife on Friday.

  • Akwa Utd dream continental ticket

    Akwa Utd dream continental ticket

    Akwa United have told SportingLife that they are still targeting continental glory at the end of the 2013/2014 premier league season.

    The Promise Keepers defeated Giwa FC 2-0 last Sunday and are billed to play Sunshine Stars on Sunday with their sights on scooping at least a point from the match in Akure.

    The Media Officer of Akwa United,Uwem Ekoh told SportingLife that getting a positive result out of the away tie with the Akure Gunners rates higher on their scale of preference presently.

    “It is our mission to qualify for a continental ticket at the end of the season and our dream to get that is still very much alive. We are going to Akure with our sights fixed on getting at least a draw.

    Akwa United have amassed 42 points from 28 matches.

  • Heartland task players on Continental Ticket

    Heartland task players on Continental Ticket

    Heartland General Manager Ibeh Okechukwu has urged the team to redouble its efforts towards securing a continental ticket at the end of the season.

    The Naze Millionaires’ could have secured a continental place had they won the 2014 Federation Cup, but they were knocked out of contention for the ticket by Sharks in the Round of 32. The Owerri-based club’s objective now is to return to the continent by picking one of the three available Glo Premier League spots.

    The Millionaires were beaten in their last two away games in Katsina Ala and Port Harcourt, and Ibeh, who addressed the players and coaches at the club’s house inside the Dan Anyiam Stadium, Owerri, emphasised the need for the players be alive to their responsibilities and ensure that they bounce back in style against Crown FC and in subsequent matches.

    Appeals have also been made to Heartland fans to not give up on the club despite the back-to-back away losses at Katsina Ala and Port Harcourt.

    The club’s Media Officer Cajetan Nkwopara said the players and coaches had promised to fix the problem starting with the game against Crown FC on Sunday.

    Meanwhile, Heartland’s MacMarcel Obioha has sustained an injury and will be out for few days. The former Gombe United defender was clipped on the back of his heel during a practice match against Pakat FC.

  • WARRI WOLVES 0-0 ENYIMBA: Enyimba’s continental glory remains on course — Yusuf

    WARRI WOLVES 0-0 ENYIMBA: Enyimba’s continental glory remains on course — Yusuf

    Enyimba of Aba’s head coach Salisu Yusuf has described the away draw against Warri Wolves as added impetus to the club’s push for a continental slot.

    The Peoples Elephant are 5th on the table with 39 points from 25 games behind Kano Pillars(42), Bayelsa United(42),Kwara United(41) and Warri Wolves(39).

    Coach Yusuf explained that the draw will motivate them in their home game against Kaduna United on Sunday before their Semi Final tie against Lobi Stars in Benin on Wednesday.

    “We are thrilled that we gained a point off one of our rivals for the league shield but we are not going to be carried away with the draw as we shall go back to Aba to map out strategy to win the next home game against Kaduna United.

    “Our push for a continental ticket is on course and we shall do all within our reach to get it via the right way,” Yusuf, a former assistant coach to Super Eagles erstwhile coach, Samson Siasia, said to SportingLife.

    Meanwhile, Warri Wolves’ media officer Moses Etu has however stated that the Seasiders didn’t lift their game which led to the draw.

    He however disclosed that the draw was a temporary setback as they have resolved to storm Nembe on Sunday with the expectation to scoop all the points to make amends for the two points lost at the Warri City Stadium yesterday.

  • Continental Suites clocks 10

    One of the leading hospitality outfits in Abeokuta, the Ogun State capital, Continental Suites, recently marked its tenth anniversary. To mark the anniversary, the management of the hotel lined a number of activities, including an in-house fashion parade. The celebration climaxed with a party on the hotel premises.

    The proprietor of the hotel, Otunba Wasiu Taiwo, said  for a hospitality business to do business and make progress within the last 10 years was not a small achievement, and, as such, it was worth celebrating. He said the success story of Continental Suites, which many regard as the best hotel in the Ogun State capital, was predicated on hard work and the desire to offer guests quality services.

    He said: “Thank God, I think it means a lot to me because 10 is a landmark. When you start from one, two, three down to 10, I think it is worth celebrating. It means a lot to me.

    “Hotel business is not easy to run in this kind of business environment. We have to go extra miles to achieve what we want. I am talking in terms of delivering good services. And if you have somebody that is doing it and he is taking the lead in that environment, even a state capital, it is commendable.”

    Taking some selected travel journalists on  facility tour of the hotel, he said part of the reason the hotel was still in good shape was the extra miles the management of the hotel went to maintain the facilities.

    Otunba Taiwo said: “It was really a big challenge. I have the grace of God to do what I am doing now because hospitality business was not really what I wanted to do. I just diversified when God said we should. I am an outfitter; I still do that in between the hotel and primary call which is tailoring. It has not been easy at all, but when you have  the grace of God, there is nothing that you cannot do, and that is what is sustaining us today.

    “The way we are doing business is not favourable, and we have to go the extra miles to make sure we deliver services to our customers. You still have to teach somebody that called himself a graduate basic things. The worst part is that you have to teach him the same thing every day.

    “We started modestly with 19 rooms.We have now got 60.We have to grow the brand to become a public quoted company. I leave everything to God. If God wants us to go further, then why not? But at the end of the day, I don’t want to do a one-man business. I want the business to succeed me, even succeed my children. That is why we want to do it the right way. If I go tomorrow, I don’t want the business to die. Now we are laying the foundation. Very soon, we are going to the stock market and make it open so that the business will run itself at the end of the day.”