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IGI’s Historic Comeback: Accelerating Strategic Plan

Published

9 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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Sultan of Sokoto Urges Nigerians to Stop Criticizing Leaders and Allow God to Deal With Them

Published

2 hours ago

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November 5, 2024

By

Sultan Muhammad Saad Abubakar

 

Nigerians have been urged to desist from castigating their leaders and all those in authority.

This call was made to Nigerians by the Sultan of Sokoto, Alhaji Sa’ad Abubakar III on Monday at the the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria hosted in Kaduna.

According to the Sultan, it is important that Nigerians rather than insult their leaders, they should allow God to really with them.

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He also urgee Nigerians to contibue praying for their keaders and tne nation as a whole.

He further called on religious leadera accros Nigeria to quit misleadinh members of ghwir congregation.

“A lot of people say we have never had it so bad, but no matter how difficult it is, ease will come. We believe nothing lasts forever.

“Nothing bad and nothing good lasts forever. Let us intensify prayers in our congregations and encourage our followers to pray for our leaders.

“We will not castigate them; we will allow Almighty Allah to deal with them as He wishes and He will,” the Sultan notes.

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Arewa APC Merger Group Hails President Tinubu for Release of Detained minors

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4 hours ago

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November 5, 2024

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The Arewa APC Merger Group has thanked President Bola Tinubu for his swift and compassionate response in ordering the release of detained minors involved in the #EndBadGovernance protests.

In a statement signed by National Coordinator Hon. Musa Mujahid Zaitawa in Abuja, the group expressed gratitude for the President’s decisive action, which has brought renewed hope to many Nigerians.

The group commended President Tinubu for showing strong leadership on the issue, noting that his actions demonstrate a commitment to justice and the well-being of Nigeria’s youth.

They emphasized that this move reassures citizens of the President’s dedication to fairness and the protection of human rights under his administration.

The release order from President Tinubu came after the Arewa APC Merger Group took substantial steps to advocate for the detained children.

In response to reports of mistreatment, including allegations of malnutrition and poor conditions, the group provided essential food and support to the minors both at the Federal High Court in Abuja and while in custody.

This effort underscored the group’s commitment to the welfare of young Nigerians and their resolve to seek justice.

Hon. Musa Mujahid Zaitawa stated that the group is encouraged by the President’s response and considers it a positive signal of his administration’s commitment to addressing national issues with compassion and responsibility.

The Arewa APC Merger Group remains hopeful that this action will set a precedent for prioritizing the rights and well-being of Nigeria’s youth across the country.

President Tinubu’s decision to release the children reflects his administration’s acknowledgment of the calls from various stakeholders to uphold justice and safeguard the future of young Nigerians.

The Arewa APC Merger Group expressed their appreciation for this significant step, which they believe will strengthen public confidence in the government’s dedication to the rights of all citizens.

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Breaking: Court Drops Charges Against Minors

Published

4 hours ago

on

November 5, 2024

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The Federal High Court in Abuja on Tuesday struck out the charges brought against a total of 119 #EndBadGovernance protesters.

All 119 protesters were arraigned on Friday, November 1 on charges bordering on Treason felony, inciting to mutiny, among others.

The defendants were arraigned in two batches at the previous proceeding.

The first batch comprised a total of 76 protesters which included 32 minors and the second batch a total of 43 protesters.

The trial judge, Justice Obiora Egwuatu, struck out the suit following an application by the counsel to the Attorney General of the Federation, M. D Abubakar, to take over and discontinue the matter.

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