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IGI’s Historic Comeback: Accelerating Strategic Plan

Published

10 months ago

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The Industrial and General Insurance (IGI) is set to reclaim its leadership position as Coopvest Limited acquired a substantial 40.7% interest, positioning the company to accelerate its 5-year strategic plan.
A historic Annual General Meeting for the acquisition will be held on March 1.
IGI’s Managing Director, Akinlolu Akinyele, in a statement signed by the company’s Head of Brand and Corporate Communications, Olufunmilayo Afolabi, said the private placement had succeeded in injecting capital into the business, thereby opening growth opportunities to the business and its numerous customers.
According to the statement, the strong relationship with the Cooperative Federation of Nigeria and its over 20 million members would also boost IGI’s transition and ecosystem. The new management, it said, has over 20 years of experience working across Africa in energy and life insurance, and is supported by a strong board, one of whom is Tajudeen Ayeola, the CFN President.
He said, ‘’ We’re regulated by the National Insurance Commission and the Security and Exchange Commission. We were very mindful of all guidelines and processes, which we followed to the letter.
“We’re on top of the legal actions challenging the Annual General Meeting and acquisition of 40.7% shares by Coopvest Limited. Due process was carried out on this new step because IGI respects the government and regulatory guidelines. Fortunately, the court has nullified the order of interlocutory injunction restraining us from holding our AGM because the petitioners failed to satisfy all requirements.
“At the Annual General Meeting of December 8, 2022, shareholders approved the conversation for IGI and Coopvest. The management team followed through the process, registrars were appointed, and due notifications were sent to shareholders for approval and offering of pre-emptive rights.
“What is left is ratification of approval. Once that is done, the entire process is completed.”
On current claims of customers and the future of IGI, the Managing Director stated that the ongoing payment would be extended to all, stressing that internal processes and technology are being improved to measure up to contemporary standards.
“The future is very bright for IGI. For customers, it means a good time ahead. I want to assure customers that all claims will be completed. Some are due and those payments are ongoing. We have been receiving commendations from customers who received payment last month.
“Internal processes and technology are being improved to measure up to contemporary standards, making it more comfortable for customers to reach us, buy our products, and process claims faster from the comfort of their homes and offices,” Akinyele assured.
Incorporated as a Private Limited Liability Company in 1991, IGI thereafter re-registered as a Public Limited Liability Company in 2007. The company started as a composite insurer to transact the business of Life and General Insurance, including Pensions and Special Risks. It subsequently established a reputation for exceptional competence and became the preferred insurer for individual and corporate clients.

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Mutiu Adepoju Urges NFF to Retain Augustine Eguavoen as Super Eagles Coach

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27 minutes ago

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November 22, 2024

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Former international, Mutiu Adepoju, has urged the Nigeria Football Federation (NFF) to keep Augustine Eguavoen in charge of the Super Eagles.

Eguavoen took charge of the Super Eagles in interim capacity in September.

The 59-year-old guided the team to qualify for AFCON 2025 with three wins, two draws and one defeat.

The NFF are reportedly still planning to hire a foreign coach for the three-time African champions.

Adepoju however said his former teammate should stay in charge of the team.

“I would rate him very well. Number one, we’ve qualified for the AFCON, which is one of the objectives,” he told Brila FM.

“I would say he has done well and is still doing well.

“They should keep encouraging him. I believe he’s getting things done, I will rate him high, let just keep supporting him.”

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Kano State Hosts 8th Annual Audit Forum to Enhance Transparency and Accountability

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18 hours ago

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November 21, 2024

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The 8th Annual Audit Forum, organized by the Office of the Auditor General of Kano State, was held recently, focusing on strengthening transparency and accountability in public financial management. .

Isma’ila Musa, the Auditor General of Kano State, welcomed the participants and highlighted the constitutional and legal mandates that guide the auditing process. “Sections 125(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and 36(i) of the Kano State Audit Law, 2021 (as amended) mandate the Office of the Auditor General to audit the accounts and financial statements of the State Government and all Offices and Courts,” he stated.

Musa expressed immense gratitude to His Excellency, Engineer Abba Kabir Yusuf, the Governor of Kano State, for his support in making the event possible. “It is very important to note that a strengthened fiscal transparency will help build trust in governance,” he emphasized. He added that the Audit Forum is a reform intended to reduce opportunities for corruption and abuse of public resources, thereby increasing the efficiency of public expenditures.

The Auditor General also acknowledged the contributions of various officials, including the Hon. Commissioner Ministry of Planning and Budget, the Accountant General, the Executive Chairman of Kano Internal Revenue Services, and former Auditors General, among others. “My sincere appreciation to all the invitees here present for honoring our invitation. I wish us a successful 8th Kano State Annual Audit Forum,” Musa concluded.

In his remarks, the Chairman of the House Committee on Public Accounts, Honorable Tukur Fagge, praised the exercise for its potential to enhance resource management and ensure the success of the tasks at hand. “This exercise will enhance resources management and will realize the success of the task,” Fagge stated.

Sarkin Shanon Kano, Shehu Muhammad Dankadai, who served as the royal father of the day, also graced the event, adding to the significance of the occasion.

The forum underscored the commitment of the Kano State Government to upholding transparency and accountability, reflecting the administration’s dedication to effective and efficient service delivery.

 

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Breaking: Former Secretary of Federal Electoral Commission, FEDECO, Ahmadu Kurfi Passes On at 93

Published

1 day ago

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November 21, 2024

By

Late Alhaji Ahmadu Kurfi

 

A former secretary of the Federal Electoral Commission, Alhaji Ahmadu Kurfi, has passed away.

A family source, Jafar Yakubu, informed NIGERIAN TRACKER about the death of the pioneer secretary of the Federal Electoral Commission, who supervised the 1979 general election.

 

Jafar Yakubu said Alhaji Ahmadu Kurfi died at the age of 93 and his Janaza funeral prayers will take place by 2:30 PM at Kurfi in KATSINA state .

 

Dr. Amadu Kurfi, OFR, was born in 1931. He was a former chairman of the then Marketing Board, former Federal Permanent Secretary of the Federal Ministry of Defence, and the first person to acquire a BSc degree in the whole of Katsina State, at University College London in 1957.

 

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