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Culture, attitudes hinder insurance role in economic development — Kari

In line with our strategic road-map, the Commission has set out reforms needed to re-position the Nigerian insurance sector to effectively serve our growing population and most importantly the financially under-serviced low-income segment. Notwithstanding Nigeria’s vast population, insurance had a mixture of myth, misunderstanding and ignorance defining it.

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The NCRIB has improved in the last two years — Okunoren

At the beginning of my tenure, I highlighted my thrust of office and the challenges that were facing us as a professional body. Though it was not a bed of roses, yet the Council recorded some modest feats in the last two years. One is adding greater value to members. I am most delighted that today, it is a pride for any member to belong to the NCRIB, because of the added value members are getting from the Council.

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Bad loans in 14 banks hit N177bn in 6 months

THE economic recoveries witnessed in the first half of 2017 did not shield the banking sector from some adversities in the form of rising bad loans. Industry stakeholders have said that the impact is still being felt negatively as banks’ customers were not able to meet their financial obligations on loan repayment, resulting to 14 banks booking N177.3 billion impairment losses for the period.

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