Tag: Universal

  • Universal donates books to IMT

    To further deepen insurance education and awareness in Nigeria, Universal Insurance Plc has donated insurance books worth over N2 million to the Institute of Management Technology (IMT) in Enugu, Enugu State.

    Addressing the students of insurance department of the institution, the Managing Director and Chief Executive Officer of the company, Mr. Ben Ujoatuonu, said that the gesture was part of the firm’s commitment in ensuring insurance education in the environ.

    He stated that as a socially responsible corporate citizen, the company had deemed it necessary to support insurance education across the country.

    For him, insurance as career means much for the volatile economy of Nigeria and the only way to shift the paradigm is to educate the young minds on the need to embrace insurance as a course of study which in turn would impact positively on the economy through practice.

    He said: “We are here today to tell you that insurance is a career and in deed, a social tool capable of lifting the country’s economy from the web of collapse if it is given a rightful place and conducive environment. Insurance plays significant role in the economy and as a catalyst for its growth, you the young minds do have a lot to know about it as a course of study and in practice a way to contributing to the economic stability.

    “This donation is a token of our contribution to the knowledge base of this wonderful institution which of course, is my Alma Mater. The books are of various areas of insurance that would boost your knowledge base as students of insurance.

    Replying, the institute’s Rector, Prof Austin Nweze thanked Universal Insurance Plc for its kind gesture and promised to encourage student in the department to take advantage of the various literature donated by the company not just in meeting their academic needs but also to aspire to become someone like Mr Ujoatuonu in their career path.”

  • Fighting inequality with universal health

    SIR: Quality and affordable health care is the foundation for individuals to enjoy productive and fulfilling lives and for countries to have strong and unwavering economies. In recent years, the Universal health coverage (UHC) movement has gained global momentum, with the World Health Assembly and the United Nations General Assembly calling on countries including Nigeria to urgently and significantly scale up efforts to accelerate the transition towards universal access to affordable and quality healthcare services.

    Universal Health Coverage is the key to achieving the World Bank Group’s (WBG) twin goals of ending extreme poverty and increasing equity and shared prosperity. It is also an essential part of the Sustainable Development Goals (SDGs). One of the cardinal interests of Sustainable Development Goal includes a target to achieve universal health coverage (UHC), including financial risk protection, access to quality essential health care services, and access to safe, effective, quality, affordable and essential medicines and vaccines for all. Thus, the goal to end poverty in all its forms everywhere is in peril without UHC, as hundreds of millions of people are impoverished by healthcare costs every year.

    Health is a human right; the Government of Nigeria owes it a duty to provide healthcare for its citizens. Kate Gilmore the United Nations Deputy High Commissioner for Human Rights in an interview with United Nation’s News on October 24 said: “We see health not only as the absence of disease and not only a question of access to services, but in fact the right to be human is a manner that you have your physical and mental integrity upheld.”

    In recognition of the mandatory equal health provisions accruing to every human being and citizens of the various countries of the world, Article I of the Universal Declaration of Human Rights (UNDHR) provides thus: “All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.”

    Also, Article 25 (1) of UNDHR provide as follows: “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.”

    Also, section 16 (2) (d) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) provide that suitable and adequate shelter, suitable and adequate food, reasonable national minimum living wage, old age care and pensions, and unemployment, sick benefits and welfare of the disabled are provided for all citizens. However, the above provision of the UNDHR as well as the constitution has not been practically observed and practiced by the government at all levels and tiers in Nigeria, may be because the provision is non- justiciable or perhaps citizens particularly the grassroots which forms the greater number of Nigerian population are not aware that such rights exist in the constitution. Thus, it is recommended that (a) the legislature both at the federal and the states amend chapter two of the Constitution of to become justiciable, (b) the Human Right Ministries, Departments and Agencies (MDA’s) as well as Civil Society Organizations (CSO’s) and health workers intensify efforts towards educating the greater number of the population about their rights to healthcare and the importance of Universal Health Coverage.

     

    • Gregory T. Okere Esq.

     Centre for Social Justice, Abuja.

  • Regulators mull universal licence for stockbrokers

    Nigeria’s apex financial services regulators have started discussions on a new framework that will expand the scope of operations and allow brokers and dealers at the Nigerian capital market to have access to the interbank market and the primary official discount window.

    The Securities and Exchange Commission (SEC), Nigeria’s apex capital market regulator and the Central Bank of Nigeria (CBN), Nigeria’s apex bank are leading other stakeholders to open up a new ecosystem for the stockbroking industry.

    The new ecosystem for the main capital market operators was part of the highlights of the discussions at the second quarter meeting of the Capital Market Committee (CMC) meeting held in Lagos.

    Director General, Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, who spoke in Lagos at a press briefing on the activities and decisions at the CMC, said the CBN and SEC have launched formal discussions on a dual licence model that enables stockbrokers to have access to the discount window of the apex bank.

    He said all parties have shown commitments to the evolution of the new framework, although discussions were still on to determine the scope and comprehensive details of the new framework.

    Gwarzo said the new model will boost liquidity in the capital market and enhance the risk creation and management of stockbrokers as they will be able to have access to the deep pool of capital provided by the discount window.

    He noted that one of the major challenges in the capital market has been access to liquidity and the introduction of dual licence model will significantly address the problem of liquidity and related issues.

    “Our discussion with the CBN is yielding positive result and we commend the Central Bank for their commitment and dedication to the project, but the discussion is still ongoing,” Gwarzo said.

    Capital market -based intermediation has been much less efficient in Nigeria as operators face significant challenges accessing wide sources of funding and thus have very inefficient sales and trading operations or maturity transformation activities.

    The new framework may allow brokers and dealers to undertake and offer similar range of products and services as investment banks. This convergence will strengthen stockbrokers’ potential to capitalise on larger business opportunities, diversify their source of funding and enhance their market making capabilities in the capital market.

    Gwarzo added that the Commission and other stakeholders have also initiated a pilot electronic reporting and circulation system that could save quoted companies between N500 million and N1 billion in costs of printing and dispatch of annual reports to shareholders.

  • Island Universal Records signs Seyi Shay

    Island Universal Records signs Seyi Shay

    Music superstar Seyi Shay has signed a global recording contract with notable record label Island Universal Records.

    The signing took place in London at the Universal Offices in South Kensington Tuesday evening.

    Island Records, founded by Chris Blackwell, Graeme Goodall and Leslie Kong, is a major American record label that operates as a division of Universal Music Group. It has been based in the United Kingdom since 1962. The label operates as one of Universal Music’s standalone labels since 2014, also handling Mercury Records.

    Seyi Shay who was recently nominated in two categories for the MTV MAMA’s is estatic and looks forward to this formidable venture.

    She joins diverse artists such as Nicki Minaj, Taio Cruz, Enrique Iglesias, Calvin Harris, Leona Lewis, Justin Bieber, Ariana Grande and more on the label.

  • Health for next generation through Universal Health Coverage

    When I served as a paediatrician in Rwanda’s public hospitals, I devoted myself to building a future where children could reach their full potential without fear of disease.  Today, as Rwanda’s Minister of Health, I can attest to the great progress our country has made to improve the health of everyone living in the “land of a thousand hills.” But I also recognize how critical it is to keep pressing onward, not only as a country, but also as a continent.

    Africa is home to some of the fastest growing economies in the world, but the benefits of this progress have not been felt equally.  For far too many, basic health care remains out of grasp. Millions of Africans simply do not have access to health facilities staffed with trained workers, or even to experienced community health workers. Even for those fortunate enough to live in close proximity to a health facility, many cannot afford to pay for basic healthcare services.

    The time has come to commit to making affordable, quality health care the cornerstone of Africa’s development. Several African countries have taken a stand on providing health services to all their citizens, and their efforts are already paying off through healthier communities.

    Twenty years ago, Rwanda was a nation devastated by genocide and war: Nearly eight in 10 people lived in poverty, our health system was all but destroyed, and one in four infants didn’t make it to his or her fifth birthday. Today, even though we still have a long way to go, Rwanda is flourishing. This is due to many factors, including a collaborative governance structure that aims to extract the most value for our people from the money spent. Rwanda’s visionary approach to prioritizing the nation’s health has also been instrumental in achieving this progress.

    Combining national resources with international donor support, we have developed a system to improve both geographic and financial access to quality basic care for all Rwandans.  Through our community-based health insurance scheme, called Mutuelles de Sante, approximately 90 percent of the population has health insurance, with another seven percent reached through civil, military, or private insurance. Even in the most remote villages, Rwandans can rely on local community health workers to deliver 80 percent of the preventive and primary care services and connect them to advanced care when needed. Under this system, Rwandans can access care without fear of financial ruin.

    The results of this approach, driven by a deep commitment to health equity, have been striking: Since 2000, infant mortality has decreased by 66 percent, child mortality has decreased by more than 70 percent, and deaths from HIV, malaria, and TB have fallen by nearly 60 percent.  Rwanda’s children were the first in sub-Saharan Africa to receive the vaccines for pneumonia and the human papilloma virus (HPV).

    Other African nations are also making important strides towards universal health coverage. Each country is developing its own model to provide coverage for its people—informed and influenced by our distinct cultures, histories, populations and settings. For example, in Nigeria, President Goodluck Jonathan has been a vocal supporter of universal health care and the National Health Insurance Scheme has recently intensified internal reforms. Going forward, it is necessary that each country feel ownership of both the successes and failures of the approach they opt to take.

    Whatever the approach, health systems should be participatory in nature, ensuring that communities provide “buy in” to the value of having health insurance, as well as a sustained political commitment to scale up these efforts.  This will help ensure that no one remains beyond the reach of efforts to provide affordable, quality care.

    The need for universal health care has never been greater throughout the world, and especially in Africa. Despite commendable progress in health over the past decades, Africa still faces the highest burden of disease, and continues to have far too many weak health systems. The recent Ebola epidemic has highlighted what is at stake for all of us if we fail to invest in both strong health systems alongside good governance.

    Health coverage is also a major financial challenge. Millions of Africans suffer financial hardship due to catastrophic expenditure whenever they are sick. According to the World Health Organization, about half of health care expenses in our region are paid out-of-pocket, and a 2009 study in Health Affairs found that one in every three households in Africa must borrow money or sell their possessions just to pay these fees.

    No family should have to choose between getting well and going bankrupt, especially when we’ve witnessed what a powerful force national health care can be for stability and economic growth. When governments invest in affordable health care, the whole population is healthier.  There are real economic benefits: there is less absenteeism at work, and the money saved by avoiding these consequences of poor health can be invested in building stronger futures for families and communities. School fees can be paid, new business can be started, and households can build savings.

    Politically, there has never been a better time for us to invest in universal health coverage. Two years ago today, the United Nations unanimously endorsed universal health coverage. Global institutions such as The Rockefeller Foundation and, more recently, The World Bank, have elevated the benefits of UHC globally, and to date more than 80 countries have asked the World Health Organization for assistance in implementing universal health coverage.

    Today, we mark the anniversary of this landmark decision with the first-ever Universal Health Coverage (UHC) Day, a global call-to-action that has garnered unprecedented support from more than500 organizations.

    As we look beyond the 2015 Millennium Development Goals, African leaders face an incredible opportunity: If we invest in our health systems now—which we know yields an impressive return for the investment—we can build an Africa where individuals, families, and entire nations reach their full potential. Together, we can chart a course for a stronger, more resilient Africa and world.

    • Binagwaho is Minister of Health, Rwanda