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Sunday Thomas Honoured at NAIPE 10th Annual Conference, Says NIIRA Will Revolutionize Insurance Sector

‎The immediate past Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olorundare Sunday Thomas, has commended the Nigerian Association of Insurance and Pension Editors (NAIPE) for honouring him with an Award of Excellence.
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‎Mr. Thomas was honoured by NAIPE with an Award of Excellence, for his contribution to the growth of the industry and his support for insurance journalists, during the Association’s 2025 National Conference with the theme “Strengthening Pension and Insurance Framework For A Better Economy,” held in Lagos recently.
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‎Expressing excitement for the award, Thomas who was the Chairman of the occasion, said he did what he did then in all sense of sincerity without anticipating any reward from any quarter, just as he promised to continue to do more for the good of the journalists and the industry as a whole.
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‎“All that I did then, I did them with all sense of sincerity because I knew it was necessary for me to do them. I was not doing them in anticipation of any reward. But today you people choose to honour me with an award. This is quite surprising and I am excited. On behalf of my family, I want to sincerely thank NAIPE for finding me worthy of this. I am not taking it lightly,” he said.
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‎Commending members of NAIPE for the award and for sustaining their reportage of the pension and insurance sectors, he said, “Some of us are fortunate to be around when they started, we know through thick and thin, they have been able to go this far, they have been able to impact on the two sectors, thereby providing relevant information to the stakeholders.
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‎“Apart from this award, I want to thank NAIPE for the good things they have been doing for the industry. As long as I am alive, I will continue to associate with the association, to ensure they continue to contribute their quota to the growth of the industry. Any time you call me, be rest assured that I will answer you.”
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‎On the Nigerian Insurance Industry Reform Act (NIIRA) 2025, recently signed into law by President Bola Ahmed Tinubu, Thomas said the Act if properly implemented, will take care of all stakeholders and revolutionise the nation’s insurance sector to contribute significantly to national growth.
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‎“Looking at where we are today, I want to congratulate the President, for signing the Nigerian Insurance Industry Reform Act (NIIRA) 2025 into law, whose journey started in 2008. NIIRA will transform and revolutionise the insurance sector. The extent the law will go, in terms of achievement, will depend on both the implementers and the industry, and the response to the content of that law will determine the extent of achievement. But one thing I am so sure of, is the fact that the platform has been set for its achievement, in terms of taking care of all the stakeholders: consumers are protected, shareholders are protected, and operators are protected.
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‎“Of course, strengthening the sector with the formalisation of Risk-Based Capital will go a long way, in which case, we don’t need to operate at the same level – be where you have capacity to be,” Thomas added.
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‎On how insurance and pension sectors can contribute to the achievement of President Tinubu’s one trillion dollar economy, the former NAICOM boss said, “There is no doubt that pension sector has asset under management of over N24 trillion, and insurance sector with an asset base of about N4.4 trillion.
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‎“I believe that we are in a good position to begin to look at the possibility and realisation of President Bola Ahmed Tinubu’s vision for having an economy with a one trillion dollar Gross Domestic Product (GDP).
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‎“I think we are on course, though we need to gain speed by 2030, which is five years from now. I believe that with these laws, and the people managing the sector, we will be able to take our rightful position in effectively contributing to President Tinubu’s vision.”

by Online Poster — October 1, 2025 in News

Pensions: Building Long Term Security In Retirement Not Quick Fix

Few issues stir as much passion as pensions. After all, retirement is not some distant concept, it is the very moment when decades of work are meant to translate into dignity, stability, and peace of mind.

For Nigerian workers, the Contributory Pension Scheme (CPS) is the system designed to ensure that this promise is kept. Yet, as public debates grow louder, it is important to separate emotion from fact, and quick fixes from sustainable solutions.

At the heart of the pension conversation lies a simple question: should retirees be allowed to withdraw their savings in full, or should access remain structured? The former offers instant gratification; the latter seeks to protect long-term security. The choice is not trivial—it is one that determines whether our elders live their final years in comfort or in poverty.

The Hidden Risks of “Take-It-All”

Imagine a retiree with ₦20 million saved up over a career. It may seem logical to withdraw the entire sum and invest it independently. Some might argue that by chasing attractive interest rates or putting the money into a family business, higher returns can be secured. But this perspective often ignores three hard realities.

1. The first is longevity risk—the possibility of outliving one’s savings. A lump sum might look substantial at 60, but what happens if life stretches to 85 or 90? (which many are praying for). The CPS is deliberately structured to provide income for life, ensuring that retirees do not face destitution in their later years.

2. The second is market volatility. Treasury bill yields and bond rates do not remain at 15 elevated levels (double digits) indefinitely. They fluctuate sometimes falling to single digits. A retiree who counts on fixed high returns may quickly discover that returns are unpredictable and insufficient, especially during downturns.

3. The third is investment risk. Stories abound of pensioners who withdraw funds to finance ventures that collapse under inflationary pressures or poor management. The intention may be noble, but the outcome is often tragic: savings vanish, while bills remain.

Two Faces of Retirement

Consider the story of two hypothetical retirees, both of whom left service with ₦20 million. Madam Okeke decided to withdraw everything and invest in a family business. For a while, it seemed promising. But within three years, inflation, currency depreciation, and unforeseen costs left her with nothing. By her early seventies, she had become dependent on relatives for basic needs.

Her colleague, Mr. Ade, opted to remain under the CPS. His monthly pension was modest but consistent. Each month, without fail, his payment arrived. At 80, he still enjoys independence, secure in the knowledge that his pension will not dry up.

Both individuals worked hard; both sought security. But their choices determined whether retirement meant stability or vulnerability.

Why Structure Matters

Some critics argue that restricting lump-sum withdrawals treats retirees like children. In reality, the principle is protective, not paternalistic. Across the world, pension systems are structured to spread income across retirement years because experience shows that without safeguards, many retirees exhaust savings too quickly. Family obligations, health crises, or speculative investments often erode lump sums, leaving individuals vulnerable at the exact stage of life when they are least able to recover financially.

The CPS prevents this outcome by ensuring that pensions last as long as life itself. For retirees who live beyond expectations, payments continue through programmed withdrawals or annuities arranged with insurance companies. The notion that payments “end” at 75 is a misconception; in truth, actuarial science only uses life expectancy as a guide for planning, not a cut-off point.

Building Trust in the System

Trust is the lifeblood of any pension system. Workers must believe that their savings are safe and that administrators are acting in their best interests. Under Nigerian CPS, pension assets are not even held by the Pension Fund Administrators (PFAs). Instead, they are kept with independent Pension Fund Custodians under the strict oversight of the National Pension Commission (PenCom). This three-tiered structure: Saver, Administrator, Custodian provides layers of security that safeguard against mismanagement.

Since the scheme’s inception in 2004, pension assets have grown to over ₦24 trillion. These funds are invested in government securities, infrastructure, corporate bonds, and housing, supporting not just individual retirees but also the broader Nigerian economy. PFAs earn regulated fees (among the lowest in Africa) while all investment returns accrue to contributors. Far from exploiting workers, the system has built a sustainable pool of capital that benefits both retirees and national development.

The Temptation of Oversimplification

It is easy to believe that giving retirees unrestricted access to their funds is the “fair” solution. But pensions are not simple savings accounts. They are insurance against the twin uncertainties of longevity and economic shocks. Psychologists call it the Dunning-Kruger effect: when complex issues are oversimplified by those who do not fully understand them. In the pension context, what looks like empowerment today may translate into widespread elderly poverty tomorrow.

The Real Struggle

Ultimately, the true enemy is not the pension structure it is poverty. A nation that fails to protect its elders condemns itself to cycles of dependency and despair. Justice in pensions is not about short-term payouts but about ensuring that workers who devoted decades to the economy are not left helpless in their later years.

The CPS was designed precisely for this: to move Nigeria away from the inefficiencies and corruption of the old Defined Benefit Scheme, and toward a sustainable system that outlasts political and economic turbulence.

A Call for Balance

Nigeria must pursue a balanced path one that recognizes retirees’ genuine frustrations while preserving the safeguards that protect them. Quick fixes may win applause in the moment, but true dignity in retirement comes from careful, compassionate, and sustainable reform.

Our elders deserve nothing less.

by Online Poster — October 1, 2025 in Insurance and Pension

Public Offer Drive: Investors Compete For Sterling Holdco Shares

Sterling Financial Holdings Company Plc. (‘Sterling Holdco’), the parent company of The Alternative Bank, Sterling Bank, SterlingFI, and a number of other novel business solutions, has witnessed a very positive response to its public offer, as investors rally for a stake in the company’s future.

The public offer, launched on September 17, 2025, has quickly become one of the most talked-about opportunities in the Nigerian financial market, with analysts predicting that the offer will prove to be amongst the most lucrative in the sector’s investment landscape.

The Sterling Public Offer has sparked widespread interest, with market experts

noting that the price, which is about 6% below its current trading price, presents

an attractive entry point for both institutional and retail investors.

The offer is set to close soon, but the rapid pace of interest has led many to speculate that

the full subscription has already been reached or even exceeded much earlier than expected.

According to leading financial analysts, Sterling Holdco’s strategic expansion

plans, solid market position, and innovative financial products have positioned

it as a major contender in Nigeria’s banking sector.

The public offer is widely

regarded as an exciting proposition for investors looking to capitalise on a company with strong fundamentals and an ambitious growth trajectory.

With a price point set at a discount to current trading prices, the offer is seen as a

compelling opportunity for both long-term and short-term investors.

Sterling Holdco has consistently demonstrated a commitment to innovation

and sustainable growth. One of the most compelling indicators of the company’s underlying strength is the impressive growth of its share price.

In the past year, the Holding company’s share price has grown steadily from ₦4.00 to

nearly ₦8.00 per share. This increase in the company’s stock price speaks volumes about the underlying value and confidence in its business model, leadership, and growth trajectory.

Sterling Holdco, known for its strategic ownership of two banks, a wealth management company, and a number of innovative consumer businesses, is seeking to raise additional capital through the issuance of 12.58 billion ordinary shares at ₦7.00 per share.

The proceeds from the public offer will be strategically deployed to further strengthen the Holdco’s capital base and

fund its growth initiatives over the next 36 months.

by Online Poster — October 1, 2025 in Capital Market

MAN’s 53rd AGM: A Platform for Nigeria First Policy Discussions

MAN hails Nigeria First policy at 53rd AGM

By Fidelia Okafor

The Manufacturers Association of Nigeria (MAN) will use the platform of its 53rd Annual General Meeting (AGM) to deepen conversation on how to unlock the full potential of the Nigeria First policy.

The theme for this year’s Annual General Meeting “Nigeria First: Prioritizing Patronage of Made in Nigeria” underscores MAN’s unwavering belief that prioritizing local production is the surest path to sustainable growth, employment generation and national development.

President of MAN, Otunba Francis Meshioye disclosed this while delivering his speech at a press conference today in Lagos to herald the upcoming 53rd AGM of the MAN, scheduled to hold from Tuesday, 14th to Thursday, 16th October 2025 at the Lagos Oriental Hotel, Victoria Island, Lagos.

He said “We are also thrilled to announce that our Distinguished Guest Speaker at this year’s Annual General Meeting is Alhaji Aliko Dangote GCON, Africa’s leading industrialist, President/ CEO of the Dangote Group. Aliko Dangote’s story is an epitome of the Nigeria First spirit.

“He has built one of Africa’s largest Conglomerates, spanning cement, sugar, salt, fertilizers and oil refinery. His investment has redefined Nigeria Industrial landscape, created thousands of jobs and reducing dependence on imports. His business decisions, over the past decades, capture the very essence of our theme: “Nigeria First: Prioritizing Patronage of Made in Nigeria.

“His presence will inspire our discussions as we navigate the next phase of Nigeria Industrial growth.

Meshioye said the three-day lineup of activities would be rich and impactful.

“Day one kicks off with the Opening Ceremony of the Made in Nigeria Exhibition which is slated for 12noon. Our distinguished Guest of Honour, who will be officially cutting the ribbon is the Secretary to the Government of the Federation, Senator George Akume CON; we believe his presence will serve the purpose of further attracting the attention of Government to what is Made in Nigeria, in order to achieve that top of the mind awareness and credible support from the highest level of government. Our distinguished guest of honour will be joined by other dignitaries to draw attention to made in Nigeria products and preach the patriotic gospel of patronage of made in Nigeria at the Exhibition. More than 100 exhibitors will be showcasing their products and thousands of visitors are expected during the 3-day period.

“Day two is planned to be strictly MAN members affairs for the annual general meeting. After the AGM, members will be engaged at a value addition panel discussion on 3D Manufacturing & Risk and Enterprise Management. It is a session planned to give credible accounts to members, create awareness and sensitize them adequately on thriving in the business of manufacturing.

“On Day three, the engagement will be climaxing with the 5th edition of the Adeola Odutola Lecture/Presidential Luncheon scheduled for Thursday, October 16th, 2025 at 11am with Alhaji Aliko Dangote as our Distinguished Guest Speaker. The exhibition ground will continue to receive guests from far and near, even as we engage at the high-profile Lecture. Our Special Guest of Honour on this occasion is the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR. Other Economic Ministers, heads of government departments and agencies, members of the diplomatic corps, our colleagues in the Organized Private Sector and other stakeholders will join our members to make the grand finale a huge success.

Meshioye said that these sessions are carefully designed to provoke critical discussions, foster partnership and highlight the urgency of implementing the “Nigeria First” Policy.

“Over the past year, Nigeria’s economic environment has remained challenging, yet it is marked by renewed hope, as bold policy steps are being taken to reposition the economy for growth. Of particular importance is the introduction of the “Nigeria First” Policy, a decisive strategy to prioritize locally manufactured goods and services.

“This policy represents a turning point for our nation, one that seeks to foster economic self-reliance, industrialization and national pride. By mandating all Ministries, Departments, and agencies (MDAs) to patronize made in Nigeria goods and services that can be sourced locally, the Federal Government has signalled its resolve to place local industries at the heart of economic transformation.

“The “Nigeria First” Policy is more than a policy directive, it is a call to action to strengthen our industries, deepen local value chains and reposition Nigeria from being a consumer driven economy to a productive economy,” he encouraged.

by Online Poster — October 1, 2025 in Industry

Democratizing Education – Airtel’s Oremeji Example

Fourteen years ago, as Head of Corporate Communications & CSR at Airtel Nigeria, my team and I visited the famous Tolu Complex in Ajegunle, Lagos – a cluster of over 20 public schools serving thousands of children in one of Nigeria’s most underserved communities.

What we saw that day changed us forever. Children between 6 and 12 sat on the bare ground under a tree, their teacher using the cracked wall of a collapsed classroom as a blackboard. Some of us shed tears.

Right there, we made a decision: we would adopt and rebuild Oremeji Primary School 2.

From Collapse to Catalyst

In just six months – cutting through layers of government bureaucracy, battling security challenges, and even replacing stolen ceiling fans on commissioning day! – we delivered a modern school building:

•Six fully furnished classrooms with whiteboards

•An office for the head teacher

•Toilets for boys, girls, and staff

•A borehole with water reservoir

•Power supply

We didn’t stop there. We gave every child uniforms, shoes, books, and school bags. Later, through our Airtel Employee Volunteer Scheme, staff donated a mini-library, taught classes, and inspired students with career talks. An ICT lab soon followed, with computers and access to free, government-approved learning materials.

The Ripple Effect

Enrollment rose. Academic performance improved. Teachers began winning laurels. Most importantly, the small spark ignited bigger change: the then First Lady of Lagos, Mrs. Folasade Fashola, apparently persuaded her husband to rehabilitate other contiguous schools in the complex. Over time, the Lagos State Government transformed the entire landscape with massive new school blocks.

When I revisited Oremeji Primary School 2 last week, during a working tour of Nigeria, I was overwhelmed. Oremeji – once the pride of the complex – now looked modest, surrounded by gigantic, ultramodern buildings. And that’s exactly the point.

A Lesson in Development

What started as one bold corporate initiative grew into sustainable, government-backed transformation. Development truly begets development. No amount of darkness can cover the light of a single candle, it’s said.

That’s the power of partnerships, purpose, and persistence. The Airtel Adopt a School Program embodies all the aforementioned attributes.

And that’s why democratizing access to education must remain a collective mission – because the children of Ajegunle, and millions like them, are our future leaders.

It’s truly heartwarming that the major item on the agenda during my visit to Nigeria was a joint Media Briefing by Airtel Africa plc and Airtel Africa Foundation, where it was announced, amongst other things, that the Foundation, which is sponsored by Airtel, will adopt 100 schools across its 14 markets in Africa (10 in Nigeria) over the next 12 months, for a start.

By Emeka Oparah , the Vice President, Corporate Communications & CSR, Airtel Africa plc.

by Online Poster — October 1, 2025 in Education

Africa Must Be On The Table In Global Agenda, Says FIRS Chairman

L-R, The Executive Secretary, African Tax Administration Forum (ATAF), Ms Mary Baine with the chairman, Federal Inland Revenue Service (FIRS) during the former’s visit to the latter in Abuja, on Tuesday. Photo credit: Victor Onarinde.

By Fidelia Okafor

The African Tax Administration Forum (ATAF) has thrown its weight behind Nigeria’s tax reforms which culminated in the new tax laws, describing them as necessary for economic growth and development.

The recently-inaugurated Executive Secretary of the continental body, Ms Mary Baine, made the support known during a visit to the chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, in Abuja, on Tuesday.

A statement by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman said ATAF stands by Nigeria in reforming its fiscal landscape and pledged the readiness of the body to give technical support in areas that would help in realising the gains of the reforms.

She referenced how the organization had helped Zambia to build capacity in the area of raising revenue from mining, promising to offer support to Nigeria in the same area.

According to her, ATAF is willing to leverage Nigeria’s continental and global influence to mobilise member-countries to strengthen the organisation.

“When you look at the strategic vision of FIRS, we see the things you are doing and the way you’re changing the tax system, the kind of reforms and the time that it has taken and of course the movement forward.

“So, we applaud you, and I wanted to say that ATAF is here to say that we stand with you, we applaud you, and we’re ready to provide whatever support that could lead to its success.

“In terms of your strategic vision— people, technology and data, we find that this is something that is really critical for the rest of the continent and that it is an area where ATAF will be happy to support as well,” she said.

The FIRS chairman, while welcoming the visitors, expressed confidence in the capacity of the Executive Secretary to lead ATAF to glory.

He charged Africans to look inwards for homegrown solutions to challenges, stressing that salvation cannot come from the Western world.

“My belief has always been that solutions to Africa’s challenges can only come from Africa. There is no free lunch anywhere. I have said that I don’t believe in aids; I believe in cooperation.

“There is a saying that when you are not on the table, you are definitely on the menu. So, Africa must be on the table and that is it. We should stop being on the menu. That is my charge to you.

“So, the expectation from us as a continent is also to bring what we can contribute to the work, most especially in tax matters. For us, we have to evolve our own fiscal policies which is what Nigeria has done with the new tax laws.

“Before now, we had tax laws that were colonial relics. We had the Stamp Duties Act of 1939 which was enacted when there was no internet,” he said.

by Online Poster — October 1, 2025 in News

President Tinubu To Inaugurate Renovated National Arts Theatre On Nigeria’s 65th Independence Anniversary

As part of activities commemorating Nigeria’s 65th Independence Anniversary, President Bola Ahmed Tinubu will on Wednesday, October 1, 2025, officially inaugurate the newly renovated National Arts Theatre, Iganmu, Lagos. The historic project, executed by the Central Bank of Nigeria (CBN) and the Bankers’ Committee as part of their commitment to giving back to the nation, marks a bold investment in Nigeria’s cultural heritage and creative future.

President Tinubu, who in July 2024 renamed the edifice the Wole Soyinka Centre for Culture and the Creative Arts in honour of the Nobel Laureate, will lead a distinguished gathering of state governors, members of the National Assembly, the diplomatic corps, captains of industry, academics, cultural ambassadors, and youth leaders.

In a joint statement, the CBN, the Bankers’ Committee, and the Federal Ministry of Arts, Culture and Creative Economy underscored the theatre’s reopening as both a celebration of Nigeria’s rich cultural legacy and a launchpad for its creative industries. While the renovation was financed and delivered by the CBN and the Bankers’ Committee, the Ministry’s partnership in programming, policy alignment, and stewardship of Nigeria’s cultural ecosystem ensures that the rejuvenated National Theatre will serve as a truly national asset.

The reopening will feature performances by the National Troupe and other leading artists, along with special remarks from Prof. Wole Soyinka. CBN Governor Olayemi Cardoso will deliver the welcome address, with goodwill messages from Lagos State Governor Babajide Sanwo-Olu and the Honourable Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musawa.

Upgrades to the facility meet the highest global standards for theatre and performance. Key improvements include a completely overhauled HVAC system, enhanced fire safety measures, new electrical, water, and sewage systems, advanced audio-video-lighting technology, world-class stage engineering, 17 new passenger lifts, solar power integration, refurbished interiors and furniture, and the restoration of historic artworks across the façade and interiors.

Ahead of the inauguration, CBN Governor Olayemi Cardoso noted: “This is not just an edifice; it represents our history and culture. The transformation of this landmark into a world-class facility is a testament to the Nigerian spirit.”

Governor Sanwo-Olu added: “The Wole Soyinka Centre for Culture and the Creative Arts (National Theatre) will not only showcase arts, tourism, and culture, but will also serve as a world-class venue for global conferences and performances.”

Minister Hannatu Musawa described the project as “a gift to the nation and a source of pride. The successful renovation of the National Theatre marks a milestone in our collective effort to preserve cultural assets while creating new opportunities for the creative industry.”

Originally constructed under the Yakubu Gowon military regime and completed in 1976 under General Olusegun Obasanjo, the National Theatre famously hosted FESTAC ’77, the Second World Black and African Festival of Arts and Culture. With this transformation, it now stands ready to host the next era of Nigeria’s cultural and creative renaissance.

by Online Poster — September 30, 2025 in News

CBN Governor Champions Next-Gen Leadership With New National Lecture Series

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will deliver a landmark lecture at Lagos Business School on Friday, October 3, 2025. The lecture, titled “Next Generation Leadership in Monetary Policy & Nation Building,” marks the launch of the CBN Governor’s Lecture Series, the first in a series of thought-leadership discourses to be held in collaboration with leading tertiary institutions across the country over the next three years.

This inaugural edition also commemorates the second anniversary of Team Cardoso’s leadership at the Central Bank of Nigeria, a period defined by renewed focus on price stability, institutional transparency, and anchoring monetary policy to the everyday realities of Nigerians.

The Governor’s Lecture Series, part of Mr. Cardoso’s broader Knowledge Acceleration and Thought Leadership Initiative, is central to the CBN’s strategy of deepening public understanding and strengthening the transmission of monetary policy. It aims to foster dialogue, promote innovation, and advance an inclusive financial system that works for all Nigerians, while positioning the country as a leader on both the African and global stages.

Since assuming office in September 2023, Mr. Cardoso has consistently emphasized linking central banking to the daily realities of citizens. He has stressed that the Bank’s core mandate, safeguarding price stability, is essential to driving sustainable economic growth and protecting livelihoods.

“Nigeria is at a pivotal moment, where technology, global financial realignments, and the energy of its youthful population are reshaping its economic future. Innovation must be harnessed intentionally and confidently, particularly by institutions like the CBN,” Cardoso noted in an earlier engagement.

The lecture is expected to attract senior policymakers, industry leaders, academics, and students, underscoring the crucial role of monetary policy in fostering stability, growth, and national development.

by Online Poster — September 30, 2025 in Capital Market

Nigerian Insurers Set To Host 250 Delegates For 2025 WAICA Conference In Lagos

The Nigerian Insurance Industry is set to host no fewer than 250 foreign and local delegates for the 2025 West Africa Insurance Companies Association (WAICA) Education Conference, scheduled to take place from Sunday, 12 October to Wednesday, 15 October 2025 at the Grand Ballroom of Eko Hotel & Suites, Victoria Island, Lagos, Nigeria.

This year’s conference, organized by the Nigerian Insurers Association (NIA) with the theme “The West African Insurer in the Face of Climate Change,” will bring together insurance practitioners, regulators, policymakers, and thought leaders representing countries across the West African sub-region.

Member countries of WAICA, namely Nigeria, Ghana, Sierra Leone, Liberia, and The Gambia, will be represented, making the conference a truly regional platform for knowledge exchange, networking, and collaboration.

The conference will provide a strategic platform for deliberations on the impact of climate change on the insurance industry, as well as actionable strategies to safeguard the future of insurance education and practice.

It is particularly important for African insurers to engage in robust discussions on climate change, as the continent faces unique vulnerabilities such as extreme weather events, flooding, drought, and agricultural disruptions that directly impact businesses, communities, and livelihoods.

For insurers, these challenges translate into rising claims, increased risk exposures, and the urgent need for innovative products and risk management strategies. By coming together at the WAICA conference, African insurers not only strengthen their collective preparedness but also position themselves to engage competitively with their global counterparts in shaping sustainable insurance practices and climate resilience solutions.

Lagos State, Nigeria’s commercial hub and one of Africa’s most vibrant megacities, was carefully selected as the host destination of the conference for its unique blend of business dynamism, cultural heritage, and world-class hospitality infrastructure. With its strategic role as a financial hub, Lagos provides an ideal environment for fostering cross-border collaboration and knowledge exchange among West Africa’s insurance community.

On Sunday, 12 October 2025, the WAICA 2025 conference will begin with a Cocktail Welcome Reception at the Insurers House, Victoria Island, in Lagos.

The Honourable Minister of State, Ministry of Finance, Dr. Doris Uzoka-Anite, has confirmed to deliver the keynote address at the Opening Ceremony of the conference on Monday, 13 October 2025, while Mr. Olusegun Omosehin, Commissioner for Insurance, National Insurance Commission (NAICOM) is the Chief Host.

The Local Organizing Committee (LOC) for the 2025 WAICA Education Conference has assembled an array of eminent local and international insurance industry leaders, dignitaries, and technical experts who will speak on and critically dissect the theme and various sub-themes of the conference.

These include:

Dr. Abiba Zakaria, Ag. Commissioner of Insurance, Ghana

Mr. Wole Oshin, Group Managing Director, Custodian Investment Plc

Mr. Bockarie Kaloko, Deputy Minister of Finance, Republic of Sierra Leone

Ms. Tola Adegbayi, MD/CEO, Mutual Specialist

Following the paper presentations, three panel sessions will be held and chaired respectively by:

Mr. O.S. Thomas, Former Commissioner for Insurance, NAICOM

Alhaji Mohammed Kari, Former Commissioner for Insurance (NAICOM)/Wazirin, Bauchi

Ms. Olamipo Adeola, Head, Corporate Communication & Branding, Scib Nigeria & Co. Ltd.

Other programme highlights of the conference include:

Monday Evening Soiree – On 13 October 2025, Sponsored by Africa Reinsurance Corporation, at Eko Hotel & Suites.

Closing Dinner Ceremony – Tuesday, 14 October 2025 at Eko Hotel & Suites, sponsored by WAICA Reinsurance Corporation, at Eko Hotel & Suites.

Visit to Tourist Sites/ Departure – Wednesday, 15 October 2025.

The LOC have put in place adequate arrangements for the transportation and security of foreign delegates and other participants at the conference to ensure a seamless and safe experience throughout their stay in Lagos.

The 2025 WAICA Education Conference promises to be a landmark event, reinforcing regional cooperation and highlighting the critical role of insurers in responding to climate challenges while offering delegates a unique opportunity to experience the dynamism of Lagos.

by Online Poster — September 30, 2025 in News

Smart, NEM Chairman Applauds NAIPE On Award, Pledges Continuous Commitment To Insurance Growth

The chairman of NEM Insurance Plc, Mr. Tope Smart has appauded the Nigerian Association of Insurance and Pension Editors(NAIPE) for deeming him of deserving an Award of Excellence.

Tope Smart was one of the 5 Awardees of NAIPE Award of Excellence and Stewardship for the impact he made, not only in Nigeria but at the continental level as the past president of the African Insurance Organisation(AIO). Aside being the past group managing director/CEO.of NEM Insurance Plc, he was also the past chairman of the Nigerian Insurers Association (NIA), among others. In all these, Smart distinguished himself as exceptional operator and a friend and supporter of insurance journalists.

While receiving the award when the 2025 NAIPE Conference Committee members presented it to him. In his office in Obanikoro, Lagos at the weekend, Smart said, the accolade is a message for him to do more to ensure Insurance takes its rightful place in the national polity and discourse.

According to him, “I have a personal philosophy that what is worth doing is worth doing well. What shaped my perception was the derogatory image at which our Head of department in the University created about insurance companies in Nigeria then.

“He had highest regards for foreign insurers and disregard the local ones. From that moment, I decided that I must make a difference. So, when I joined the industry, I tried my best to be able to change the narrative.”

Referencing the NEM Building that has now become the face of Insurance on Ikorodu Road, he said; “the NEM building on Ikorodu road was built without any bank loan to the glory of God and it has become the envy of others.”

While apprecating every member of NAIPE, he said, he and the group have come a long way together.

“I run a business and I know it’s not easy to run a business. So, for you guys, especially, those who runs their media platforms, to be there with tenacity, despite all the struggles in the business operating environment, and still making a difference, it is commendable and I will continue to support your projects in a joint effort to develop insurance industty,” he pointed out.

On her part, the chairman of NAIPE, Mrs. Nkechi Naeche Esezobor appreciated the support and partnership of Mr. Tope Smart and his company, NEM Insurance over the years, saying, the group never took them for granted.

“This building(NEM Insurance) was what made many insurance companies to start making their building big. Every company coming in is looking at doing what NEM did because you have challenged them.

“Your efforts can never be in vain. As an association, we feel it is good to recognise people when they are alive. We appreciate what you have done for the industry and we felt we need to appreciate this feat in our 10th anniversary of organising our annual conference,” she noted.

Meanwhile, the chairman, 2025 NAIPE Annual Conference, Mr. Roland Okoro said, Mr. Tope Smart tick all the boxes when assessing the personalities to be awarded, calling on him not to rest on his oars towards deepening insurance acceptance, penetration and recognition.

by Online Poster — September 30, 2025 in News