News

IGI’s Historic Comeback: Accelerating Strategic Plan

Published

3 months ago

February 6, 2024

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.

News

Dangote Cement places premium on Community engagement, sustainability in Host communities

Published

9 hours ago

May 13, 2024

Nigerian Tracker

Alhaji Aliko Dangote

Dangote Cement Plc, is prioritizing community engagement, empowerment, and environmental stewardship to sustain its upward trajectory,

The cement manufacturing firm said it believed that true progress is measured not only by economic prosperity but also by the holistic development of all stakeholders.

The Plant Director of Dangote Cement Plc Obajana, Mr. Azad Nawabuddin, who disclosed this during a media chat in Obajana, said that the relationship between Dangote Cement and its host communities and other stakeholders transcends transactional exchanges as it is built on a foundation of trust, mutual respect, and shared aspirations.

“The communities in which we operate are not just beneficiaries; they are our partners in progress,” he affirmed.

While reaffirming the company’s commitment to its host communities, Nawabuddin, who recently moved from the Ibese plant, emphasized that the company would collaborate with key stakeholders in Obajana to implement impactful projects.

He said crucial to the vision is the empowerment of residents through skills development and capacity-building initiatives. “We recognize the importance of equipping community members with the requisite skills to thrive in today’s competitive landscape,” Nawabuddin asserted.

The Dangote Cement boss said this will enhance employability and foster entrepreneurship among youth and women in the host communities.

With a steadfast commitment to corporate social responsibility (CSR) and sustainable development, Nawabuddin outlined initiatives to strengthen the bond between Dangote Cement and the communities. He emphasized that the company views its host communities as partners.

“In terms of community engagement, we will hold meetings to explore avenues for supporting them, including opportunities for businesses and contracts. The communities are integral partners for us. Through dialogue with them, we aim to execute significant projects that will bring them lasting benefits,” he stated.

Nawabuddin also stressed the importance of environmental stewardship and sustainable practices in Dangote Cement’s operations. “We are custodians of the environment, and it is our duty to ensure that our activities leave a positive impact on the ecosystem,” he added.

Nawabuddin explained that in addition to socio-economic development is the importance of addressing security concerns in the host communities. He said through collaborative efforts with law enforcement agencies and community-based initiatives, security risks will be mitigated, and the well-being of residents will be upheld.

“We are working closely with local authorities and community leaders to enhance security measures and create a safe and conducive environment for all,” he added.

News

Kano-Kaduna-Abuja Passengers Spent Night In Kaduna Due to Traffic Jam

Published

1 day ago

May 13, 2024

Nigerian Tracker

Some passengers traveling from Abuja to Kano found themselves stranded in Gwanin Gora town, Kaduna State, due to a traffic jam.

An eyewitness and passenger, Dr. Lado Bala, informed NIGERIAN TRACKER that they had been stranded since 3 AM with no indication of movement.

Regarding the cause of the traffic jam, Dr. Bala mentioned that it may be attributed to an unknown accident that occurred further down the road.

As of the time of reporting, no security agency had responded to clear the jam.

The Kano-Abuja-Kaduna Express is a major Nigerian road that links Northern and Southern Nigeria.

News

Nigeria Tracker Congratulates Sarkin Bai Mansur Mukhtar On Wedding of His Daughter Amina

Published

1 day ago

May 12, 2024

Nigerian Tracker

The wedding ceremony

The management of Nigeria Tracker Communications, publishers of Nigerian Tracker online newspaper, has extended its congratulatory message to the family of Nigeria’s former Minister of Finance and Vice President of the Islamic Development Bank ,Dr Mansur Mukhtar on the wedding of his daughter, Amina Mansur Mukhtar.

This was contained in a statement signed by the Editor-in-Chief and CEO of the leading online newspaper, Abbas Yushau Yusuf.

The wedding fatiha and solemnization which took place in Jeddah, Saudi Arabia, had in attendance family, friends, and well-wishers, with a dowry of $1000.

On behalf of the board of directors of Nigeria Tracker Communications, we wish the couple a happy married life and Allah’s blessings, and success to the entire Sarkin Bai of Kano’s family, Dr. Mansur Mukhtar.