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Choosing the first American Pope

Choosing the first American Pope

177 total views today

By Magdalene Ukuedojor

Cardinal Robert Prevost has become the first American pope.

The Cardinals, gathered in the Vatican’s Sistine Chapel, have elected Cardinal Robert Francis Prevost as the 267th Pope, who took the name Pope Leo XIV.

The chimney atop the Sistine Chapel released a plume of white smoke on Thursday, signalling that the 133 cardinals working inside had reached a two-thirds majority to elect a new pope for the Catholic Church.

A senior cardinal deacon, stood on the balcony on the facade of St. Peter’s Basilica, overlooking St. Peter’s Square and declared in Latin: “Nuntio vobis gaudium magnum: habemus papam” – “I announce to you a great joy: We have a pope”.

American Cardinal Robert Prevost was announced as the choice to replace Pope Francis.

Bells at St. Peter’s Basilica rang and crowds cheered as the white smoke billowed from the chimney.

The new leader of the Catholic Church was chosen amid the third round of conclave voting.

Cardinal Robert Prevost selected the name Leo XIV as his name for pope, a senior cardinal deacon announced.

John, the most popular name selected among cardinals, has been used 23 times. Gregory has been used 16 times, and Benedict has been chosen 16 times.

The only name that is not allowed to be used is Peter, which is an unwritten rule in the Catholic Church, paying respect to the first pope, Saint Peter.

American Cardinal Robert Prevost stands on the balcony on the facade of St. Peter’s Basilica as the new leader of the Roman Catholic Church.

Cardinal Robert Prevost, 69, is an American who has spent much of his career as a missionary in Peru.

Made a cardinal by Pope Francis in 2023, he has given few media interviews and rarely speaks in public.

Originally from Chicago, he has attracted interest from his peers because of his quiet style and support for Francis’ 12-year papacy, especially his commitment to social justice issues.

Prevost served as a bishop in Chiclayo, in northwestern Peru, from 2015 to 2023.

Francis brought him to Rome that year to head the Vatican office in charge of choosing which priests should serve as Catholic bishops across the globe, meaning he has had a hand in selecting many of the world’s bishops.

Prevost said during a 2023 Vatican press conference: “Our work is to enlarge the tent and to let everyone know they are welcome inside the Church.” (NAN)(www.nannews.ng)

White smoke emerges as a new Pope is elected

White smoke emerges as a new Pope is elected

245 total views today

By Magdalene Ukuedojor

With white smoke now billowing from the chimney on the Sistine Chapel, it’s clear the voting process has concluded and the cardinals have chosen a successor to Pope Francis.

We don’t yet know who has been selected, but it will become clear when they emerge on the balcony of the Sistine Chapel, likely within the hour.

The electing cardinals have now chosen a new pope and things will move pretty swiftly now.

Now that white smoke has appeared, the new pontiff will normally appear on the balcony overlooking St Peter’s Square in the next hour.

The new pope is now being led to a small room next to the Sistine Chapel where he will put on the white papal robes.

The senior cardinal will soon confirm the decision with the words “Habemus Papam” – Latin for “we have a Pope” – and introduce the new pontiff by his chosen papal name.

Meanwhile huge cheers bellow from the crowd as the white smoke rises, everyone is running forward to see it.

People are jumping up with joy while some are praying to the sky.

The bells are ringing so loudly it’s reverberating around St Peter’s Square as people cheer and scream with joy. Reuters/NAN

PharmAccess, Monitor Healthcare partner on quality care

PharmAccess, Monitor Healthcare partner on quality care

233 total views today

 

 

 

By Oluwafunke Ishola

International NGO, PharmAccess, has partnered with Monitor Healthcare Ltd. to improve healthcare quality in facilities and strengthen Nigeria’s health system.

 

 

 

PharmAccess Nigeria’s Country Director, Ms Njide Ndili, stated this during the signing of a Memorandum of Understanding (MoU) in Lagos on Wednesday.

 

 

 

Monitor Healthcare is the first non-exclusive licensed partner of SafeCare, a standards-based approach to improve healthcare quality in low-resource settings.

 

 

 

Ndili said the partnership would help implement SafeCare standards aimed at optimising healthcare delivery and improving patient outcomes nationwide.

 

 

 

She added that SafeCare enables Nigerian healthcare providers to assess and improve services using internationally recognised standards.

 

 

 

Ndili stressed that the partnership would help scale SafeCare’s quality improvement approach across more hospitals in Nigeria.

 

 

 

“We lack enough personnel to support every hospital directly, as it requires close collaboration to improve healthcare quality,” she explained.

 

 

 

She said licensed partners would now be trained to use and implement SafeCare methodology across health facilities.

 

 

 

She noted that existing partners include Lagos State Health Management Agency (LASHMA) and the National Health Insurance Authority.

 

 

 

“When Safecare is applied, healthcare outcomes improve, patient satisfaction rises, and quality improvement becomes a reality,” Ndili stated.

 

 

 

She added that SafeCare ratings range from Level One to Level Five, with Five being the highest quality standard.

 

 

 

Ndili urged the government to mandate hospital ratings to help patients understand their facility’s performance and clinical service quality.

 

 

 

Dr Kwasi Bohane, PharmAccess Director of Health Systems, said the goal is to embed quality processes in all healthcare facilities.

 

 

 

He added that achieving this would help Nigerians access better, more reliable care across both public and private hospitals.

 

 

 

Dr Femi Ogunremi, CEO of Monitor Healthcare, said the partnership would amplify quality’s role in health outcomes and universal health coverage.

 

 

 

Ogunremi noted that poor healthcare quality causes avoidable deaths and affects productivity and economic development.

 

 

 

He said the collaboration would help tailor SafeCare services to health facilities based on identified gaps in service delivery.

 

The News Agency of Nigeria (NAN) reports that SafeCare is currently present in over 25 countries and reaches more than 9.5 million patients annually.

 

According to WHO, poor-quality healthcare causes 5.7 to 8.4 million deaths yearly in low and middle-income nations.

 

 

 

WHO estimates that these results in productivity losses of $1.4 to $1.6 trillion annually in those countries. (NAN)

 

Edited by Kamal Tayo Oropo

Kwara trains 60 healthcare providers on emergency obstetrics

Kwara trains 60 healthcare providers on emergency obstetrics

225 total views today

By Fatima Mohammed-Lawal

The Kwara Government in collaboration with United Nations Children’s Fund (UNICEF) has trained 60 secondary healthcare providers on Comprehensive Emergency Obstetric and Newborn Care (CEMONC).

The News Agency of Nigeria (NAN) reports that the programme is under the European Union’s “Strengthening Access to Reproductive and Adolescent Health (EU-SARAH)” initiative.

Speaking on the sidelines of the training on Thursday in Ilorin, Prof Abiodun Adeniran, the Lead Facilitator, explained that the programme was a 14-day intensive training for secondary healthcare workers across the 16 local government areas of the state.

He said that the training was expected to reduce the high rate of maternal mortality in the state.

“As we all know, all over the world, about 300,000 to 500,000 women die from pregnancy-related complications.

“These complications present to us as emergencies, such that how we handle them determines whether our women die or survive,” he said.

The expert who is a Consultant Obstetrician and Gynaecologist at the University of Ilorin Teaching Hospital (UITH), noted that about 90 per cent of maternal mortality occur in sub-Saharan African countries.

He said that Nigeria as part of the sub-Saharan country share in this burden of deaths and stressed the need to build capacity of healthcare workers in order to tackle emergencies effectively.

Adeniran also revealed that lots of newborn babies die before 24 hours of birth as a result of not being able to breathe properly, some with infections or jaundice.

According to him, the healthcare workers are being trained on how to improve the survival rate of the infants as well as the mothers.

Also speaking, Dr Fatai Olaniyi, a Consultant Obstetrician and a co-Facilitator at the training, explained that the high maternal mortality rate showed that all stakeholders must put more efforts to reduce it in the country.

Olaniyi while commending Gov. AbdulRahman AbdulRazaq of Kwara, advised that the initiative be sustained through provision of life saving tools in healthcare facilities.

In her remarks, the State EU-SARAH Programme Manager, Dr Kafayat Kofo, explained that the training aimed to enhance the capacity of health care providers rendering services to mothers during pregnancy and delivery.

According to her, the training will equip healthcare providers with the skills to manage obstetric emergencies, help to save lives and reduce the number of maternal deaths.

Kofo urge the participants to make judicious use of the life-saving training, which was expected to reduce the morbidity rate of pregnant mothers. (NAN)(www.nannews.ng)

Edited by Deborah Coker

Tackling obstetric fistula in Nigeria

Tackling obstetric fistula in Nigeria

328 total views today

By Abiemwense Moru, News Agency of Nigeria (NAN)

In Nigeria, the battle against obstetric fistula, a painful and debilitating condition caused by prolonged and obstructed labour, has seen promising strides.

The progress so far is attributable to both government initiatives and inputs from non-governmental organisations (NGOs).

One of the most significant government interventions is by the National Health Insurance Authority (NHIA), which has expanded its coverage to include care for Vesicovaginal Fistula (VVF) patients.

In the light of this, the NHIA Coordinator in Kwara, Hajiya Idayat Bello-Olaitan, said no fewer than 71 women in the state had benefited from the NHIA’s Free Fistula Programme (FFP), with 31 enrolled under the Basic Health Care Provision Fund (BHCPF).

VVF is an abnormal opening between the bladder and the vagina, causing continuous urinary incontinence; it is one of the most distressing complications of gynecologic and obstetric procedures.

The government aims to reduce maternal mortality and morbidity through programmes such as the NHIA-FFP and Comprehensive Emergency Obstetric Care (CEmOC).

According to Bello-Olaitan, women undergoing fistula treatment under these schemes receive free, comprehensive care, including surgery, feeding, transportation, and family planning counseling, thus eliminating the burden of out-of-pocket expenses.

Fistula survivors like Mrs Safiyanu Moses illustrate the success of these interventions; once ostracised due to the stigma of her condition, Moses now shares her journey of recovery and empowerment.

“I was ignored because of the smell, but today I am fine, like everyone else,” she said.

Empowerment initiatives such as NHIA’s FFP and community-based projects not only provide medical treatment but also offer vocational training, helping survivors rebuild their lives and reintegrate into society.

In Minna, the Raised Foundation has conducted more than 800 successful surgeries since 2017, restoring hope and dignity to affected women.

According to the Foundation’s Communications Officer, Ruth Mamman-Jiya, the goal is to ensure that no woman endures the suffering of obstetric fistula while trying to give birth.

In a similar effort, the United Nations Population Fund (UNFPA), in collaboration with the Government of Norway, has empowered 50 rehabilitated survivors in Gombe State through a programme that combines surgery, vocational training, and economic empowerment.

During a graduation ceremony for the 50 survivors, Dr Bajowa Lanre, UNFPA’s Sexual Reproductive Health Analyst, reiterated the agency’s commitment to ending obstetric fistula, describing it as a condition with severe stigma and life-altering consequences.

He said that women should never have to endure such experiences as UNFPA had provided life-transforming surgeries and support across Nigeria.

Lanre said with backing from the Norwegian Government, the programme was also helping women reintegrate into their communities with renewed dignity and economic potential.

The Gombe Commissioner for Women Affairs and Social Development, Ms. Asmau’u Iganus, highlighted that the support improved not only the social status of the survivors but also their economic well-being.

On his part, Dr Musa Issa, Founder of Fistula Foundation Nigeria, said that the treatment and empowerment of survivors turned them into role models within their communities.

Survivors like Moses now express hope and joy at their recovery and view themselves as ambassadors committed to helping other women seek treatment.

In Kaduna, Abuja, and Zamfara, the Bashir Foundation for Fistula and Women’s Health (BFFWH) is also working to provide both surgical repair and post-operative rehabilitation.

According to Ibukun Ogundare, Director of Media and Technology at BFFWH, the programmes focus on underserved communities and include post-surgery support such as psychological counselling and vocational training.

He said the efforts were part of a broader national movement to eliminate obstetric fistula and improve maternal health.

These combined efforts reflect a growing national and international commitment to ending obstetric fistula in Nigeria.

Through collaboration between government bodies, NGOs like the Raised Foundation and BFFWH, and international partners such as UNFPA, significant progress is being made.

For example, in southern Nigeria, Prof. Johnson Obuna, Medical Director of the National Obstetric Fistula Centre (NOFIC), pointed out that many VVF cases were caused by poor Caesarean sections, highlighting the need for quality maternal care and skilled birth attendants.

To address such challenges, the Nigerian Government had unveiled initiatives like the Maternal Mortality Reduction Innovation and Initiatives (MAMII) project, offering free caesarean sections and improving access to skilled delivery services.

Since its inception, more than 4,000 women have benefited, contributing to a measurable decline in maternal mortality and morbidity.

Government support plays a critical role in combating maternal mortality and morbidity through policies like the free caesarean section initiative, which has already benefited more than 4,000 women.

The ongoing MAMII project is a key component of this national effort, aiming to reduce maternal deaths by improving access to essential healthcare services.

Health Minister Prof. Muhammad Pate announced key achievements in Nigeria’s fight against maternal health issues, including the expansion of the Free Fistula Programme, now active in 15 healthcare facilities nationwide.

He said that the initiative provides free fistula repair, care, and transportation to affected women, significantly improving access to treatment for this debilitating childbirth-related condition.

As part of broader reforms under MAMII, the government also unveiled a National Training Manual for Obstetric Fistula Management, reinforcing its commitment to long-term fistula prevention and care.

Observers say the efforts mark a critical step in addressing obstetric fistula and promoting safer childbirth for vulnerable women across Nigeria.

Expanded health insurance coverage now includes maternal care, providing critical services to women in underserved areas and helping to prevent complications like VVF.

Empowerment and reintegration are essential for long-term recovery.

Programmes that include vocational training and start-up support restore not just health but also dignity and independence.

Testimonies from survivors like Mrs Gladys Nwachi, who lived with VVF for 18 years, highlight the life-changing impact of these efforts.

Her story and others like hers underscore the importance of continued investment in prevention, treatment, and survivor support.

Ultimately, experts say tackling obstetric fistula in Nigeria requires a comprehensive approach, combining free surgical interventions, preventive maternal care, and post-operative empowerment.

It is experts’ view that the goal of eliminating obstetric fistula and improving maternal health outcomes across the country is within reach due to sustained commitment from both local and international stakeholders.(NANFeatures)

***If used, please credit the writer and the News Agency of Nigeria.

Sanwo-Olu reaffirms support for SMEs, unveils loan initiative

Sanwo-Olu reaffirms support for SMEs, unveils loan initiative

240 total views today

 

 

 

By Rukayat Moisemhe and Aderonke Ojediran

 

Gov. Babajide Sanwo-Olu of Lagos State has unveiled the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) to provide access to finance for Small and Medium Scale Enterprises (SMEs) and registered cooperative societies in the state.

 

Sanwo-Olu unveiled the initiative at the Adeyemi Bero Auditorium, Alausa, Ikeja, on Wednesday in partnership with Bank of Industry (BoI) and Sterling Bank Ltd

 

He said the tripartite initiative was designed to break the funding barrier to enable SMEs to access up to N10 million at a single-digit interest of nine per cent per annum without collateral.

 

LASMECO is a first-of-its-kind public-private financing platform that aims to deliver low-interest, risk-mitigated loans to SMEs across strategic sectors, including healthcare, agriculture, creative industries, manufacturing, and circular economy clusters.

 

The News Agency of Nigeria (NAN) reports that the initiative is a game changer that will accelerate access to finance for SME business owners in the state by providing a loan of up to N10 million at nine per cent interest rate for two to three years.

 

The governor advised the beneficiaries to use the money and grow for their businesses judiciously.

 

“I stand here today filled with pride and hope. Pride in the indomitable spirit of Lagosians, and hope for the future we are building together.

 

“This occasion, the launch of the joint initiative between the Lagos State Government, Bank of Industry, and Sterling Bank MSME Fund, is not just a formal unveiling of a financing programme.

 

“It is the unveiling of dreams, the lighting of thousands of small candles that together will illuminate the path to a more prosperous and inclusive Lagos.

 

“Let me begin with a story that captures why this moment matters. A few years ago, I met a young woman named Bisola in Alimosho. Bisola ran a small tailoring business out of a single shop.

 

“She had creativity, she had customers, and she had ambition, what she didn’t have was affordable capital to expand. Traditional loans were out of reach without collateral, so for years her dream of opening a small factory remained just that: a dream.

 

“In 2020, through a Lagos State support scheme for small businesses, Bisola accessed a low-interest loan. With that little boost, she bought two additional sewing machines and hired three apprentices from her community,” the governor said.

 

The governor further said that there were other Bisola’s that would benefit from the scheme.

 

Sanwo-Olu commended the contribution of the informal sector to economic growth and development.

 

“Bisola’s story is not only inspiring, but it is unique. It is one of thousands of success stories our Micro, Small, and Medium Enterprises (MSMEs) have written across this great state.

 

“From the bustling markets of Balogun and Idumota, to the tech hubs of Yaba, to the bustling garages in Ikeja and the creative studios in Surulere, our MSMEs are the unsung heroes of Lagos’s economy.

 

“They are the backbone and the heartbeat of our drive toward prosperity. When we talk about making Lagos a 21st century economic powerhouse, it is their energy and innovation that power the engine.

 

“Think about it, MSMEs account for almost 96 per cent of businesses in our nation and nearly half of our GDP. Here in Lagos, we are proud to host the highest concentration of these enterprises in Nigeria.

 

“That means millions of our citizens wake up every day as owners of small shops and stalls, founders of startups, operators of restaurants and factories, providers of services and artisans of trade.

 

“Together, these hard-working men and women employ the vast majority of our workforce and provide livelihoods for countless families. They turn the cogs of commerce in every neighborhood, from Epe to Eko, Badagry to Ikeja,” he said.

 

Also speaking, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose-Madebem, described the initiative as a revolutionary financing scheme for MSMEs to provide a single digit non-collateralised loan.

 

Ambrose said the loan to be given to businesses under cooperatives would unlock the next generation of entrepreneurs in the state.

 

“So, as we begin this journey today, let us remember that this is not just about launching, it’s about unlocking the next generation of entrepreneurs.

“This is about creating a type of globally grown, globally competitive enterprise that will find its future opportunities.

 

“It’s about ensuring that whether you’re a young woman in Badagry, a healthcare provider LASMECO will work for you,” she said.

 

The Managing Director of BoI, Dr Olasupo Olusi, said the bank partnered Lagos State on the initiative to ensure access to finance for MSMEs to tackle poverty and guarantee economic growth in communities.

 

NAN reports that the highpoint of the event was the signing of the Memorandum of Understanding on the initiative between the Lagos State Government, Bank of Industry and Sterling Bank. (NAN)(www.nannews.ng)

 

Edited by Chinyere Joel-Nwokeoma

Cohort learning improves maternal, child health — official

Cohort learning improves maternal, child health — official

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By Amina Ahmed

Mrs Umul-Khairi Musa, Officer in Charge of the Antenatal Clinic (ANC) at Miri Primary Healthcare Centre in Bauchi, has highlighted the impact of cohort learning in reducing pregnancy-related complications and improving child health outcomes.

Cohort learning involves a group of learners progressing through a programme or course together, sharing a similar schedule, activities, and learning path.

Speaking in an interview with the News Agency of Nigeria (NAN) on Thursday, Musa said the structured learning approach had proven effective in educating expectant mothers on key health issues such as nutrition, danger signs during pregnancy, and newborn care.

“We introduced the cohort learning model to ensure that pregnant women receive focused, continuous education.

“Since its implementation, we’ve seen a noticeable decline in complications during pregnancy,” she explained.

She added that the benefits extended beyond childbirth. “Babies brought in for immunisation are generally healthy and developing well for their age.

“This is because the learning process is interactive, organised, and allows for better engagement.”

Musa emphasised that during each session, participants were provided with pictorial materials to enhance understanding and maintain attention throughout the antenatal period.

She encouraged all pregnant women to apply the knowledge gained during their sessions.

“Every woman in our care is placed in a cohort based on her pregnancy stage. As some give birth, new ones are enrolled, it’s a continuous process,” she said.

Musa called on more women to take full advantage of antenatal care, stressing that informed mothers were better equipped to protect their health and that of their babies. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

Coronation Merchant Bank generates over N12.26bn profit in 2024

Coronation Merchant Bank generates over N12.26bn profit in 2024

370 total views today

 

 

 

 

 

By Taiye Olayemi

 

 

 

Coronation Merchant Bank says it generated N12.26 billion for the year ended Dec. 31, 2024.

 

 

 

This is a 363 per cent growth from its N2.65 billion generated in 2023.

 

 

 

This is contained in a statement by Mr Paul Abiagam, Acting Managing Director of Coronation Merchant Bank, issued on Wednesday in Lagos.

 

 

 

The company also reported a 285 per cent profit before tax from N3.48 billion in 2023 to N13.401 billion in 2024.

 

 

 

Its total asset also grew from N524.46 billion in 2023 to N558.64 billion in 2024 while its equity soared from N37.33 billion in 2023 to N45.85 billion in 2024.

 

 

 

The earning per share attributable to ordinary shareholders rose from N52.00 to N161.40 in 2024.

 

 

 

The interest income increased from N40.39 billion in 2023 to N70.12 billion in 2024.

 

 

 

Abiagam said, “Coronation Merchant Bank has concluded the year 2024 with remarkable achievements, solidifying its position as a leader in Nigeria’s financial services industry.

 

 

 

“The bank won seven impressive and prestigious awards due to our commitment to delivering value to clients and stakeholders.

 

 

 

“The bank’s accolades include being named the Best Investment Bank in Nigeria at the World Finance Awards for a record seventh consecutive year.

 

 

 

“Additionally, Coronation Merchant Bank was celebrated as The Most Outstanding Merchant Bank for 2024 at the BrandCom Awards and recognised as the Best Social Media Merchant Bank at the Digital Jurist Awards.

 

 

 

“At the FMDQ Awards, the bank secured honours in four key categories: Most Diverse Issuer on FMDQ, FMDQ Registration Member (Quotations), Most Active Securities Lodgement Sponsor, and Largest Issuing House on FMDQ.

 

 

 

“These recognitions underscore the bank’s pivotal role in advancing Nigeria’s capital markets and fostering financial innovation.”

 

 

 

Abiagam noted that beyond these accolades, Coronation Merchant Bank achieved more significant strategic milestones in 2024.

 

 

 

He said the bank successfully facilitated major capital-raising transactions, launched the Coronation Vintage Naira and Dollar Accounts, and introduced VISA Cards, expanding its payment solutions.

 

According to him, the bank also secured triple certifications, affirming its dedication to global standards of quality, security, and service excellence. (NAN)

 

Edited by Dorcas Jonah/Olawunmi Ashafa

Long-term financial planning, risk management crucial to secure retirement – NAICOM 

Long-term financial planning, risk management crucial to secure retirement – NAICOM 

224 total views today

 

 

 

 

 

 

By Taiye Olayemi

 

 

 

The National Insurance Commission (NAICOM) says long-term financial planning and risk management are crucial for securing a comfortable retirement.

 

 

 

Its Chief Executive Officer, Mr Olusegun Omosehin, said this during the 2025 edition of Inspenonline Retirement Summit on Wednesday, in Lagos.

 

 

 

Omosehin, who was represented by Mr Julius Odidi, Lagos Director of NAICOM, said individuals must prioritise early planning and saving for their retirement to ensure financial stability and security in their golden years.

 

 

 

The theme of the summit is “Attaining Good Retirement Amid Economic Headwinds”.

 

 

 

The Commissioner for Insurance said that financial planning was essential due to growing complexities retirees face in an era defined by inflationary pressures, market volatility, and shifting demographic patterns.

 

 

 

He said, “The reality today is that more individuals are approaching retirement with concerns about income sustainability, healthcare costs, and the adequacy of their pension savings.

 

 

 

“These economic headwinds are not merely statistics, they represent the lived experiences of millions of our citizens. As regulators, insurers, pension administrators, and policymakers, we must rise to this challenge with innovation, empathy, and resilience

 

 

 

“From the insurance sector’s perspective, retirement planning must be rooted in long-term financial protection and risk management.

 

 

 

“Products such as annuities, life insurance, and retirement savings plans are not just financial instruments, they are vital tools for peace of mind in later life. We must work to ensure these tools are accessible, transparent, and align with the evolving needs of our aging population.”

 

 

 

According to Omosehin, the economic headwinds confronting retirees could be surmounted through coordinated action, strategic foresight, and trust in financial instruments, institutions and systems.

 

 

 

He said to navigate the period effectively, policy alignment and regulatory reforms must be focused on.

 

 

 

He noted that product relevance and accessibility as well as financial literacy and consumer empowerment must also be priotised.

 

 

 

“We must ensure that our policies across the insurance, pension, and financial sectors are not working at cross-purposes.

 

 

 

“Regulation must be enabling, responsive, and focused on long-term value rather than short-term gains.

 

 

 

“Industry must invest in designing affordable, relevant, and inclusive retirement products, especially for the informal sector, which constitutes a significant portion of our population.

 

 

 

“Micro-insurance and digital platforms hold tremendous potential in this regard,” he said.

 

 

 

Omosehin urged insurers, and regulators to collaborate, innovate, and advocate for policies and practices that will ensure every Nigerian retiree have the means to survive and the resources to thrive.

 

 

 

“At NAICOM, we remain committed to deepening insurance penetration, strengthening consumer confidence, and fostering partnerships across the financial services system.

 

 

 

“We are actively engaging with stakeholders to develop frameworks that enhance the integration of insurance and pension systems, especially in addressing longevity risks and post-retirement income security,” he said.

 

 

 

Also, Mr Akinjide Orimolade, Managing Director, Stanbic IBTC Insurance Ltd. explained the rudiments of the company’s new plan known as “Sunset Benefit Plan”, which allows for effective planning ahead of retirement.

 

 

 

The Chairperson, Nigeria Labour Congress, Lagos Chapter, Funmi Sesi, called on all levels of government to ensure full compliance with the Contributory Pension Scheme (CPS) as only six states were currently complying.

 

 

 

Sesi also emphasised the importance of prompt payment of gratuity to workers, stressing that delayed payments could cause financial hardship and uncertainty for affected employees.

 

 

 

Meanwhile, Mr Chuks Okonta, Publisher of Inspenonline and organiser of the Retirement Summit, stated that the event aimed to shift the narrative around retirement.

 

 

 

According to Okonta, many people view retirement as a daunting prospect, fearing financial uncertainty.

 

 

 

He said: “We want to change this perception, our goal is to empower individuals to plan effectively for retirement, enabling them to look forward to this phase of life with joy and confidence, rather than fear and uncertainty.” (NAN)

 

Edited by Olawunmi Ashafa

Government statistics show New Zealand still has more sheep than people

Government statistics show New Zealand still has more sheep than people

190 total views today

Statistics by New Zealand Government Agency reveals there are still more sheep than human in the country.

With a population of 23.6 million sheep and 5.3 million people, there are about 4.5 sheep for each New Zealander, the statistic showed.

According to the statistics, that’s down from 22 sheep per person in 1982, when farming sheep for meat and wool was New Zealand’s biggest earner.

Now, years of falling wool prices prompted by a global shift to synthetic fibres have led farmers to change what they do with their land, the sector’s biggest lobby group said.

The lobby group added that, however, humans were gradually trying to catch up with the sheep.

The vast number of sheep in New Zealand relative to the country’s scant human population has long been the subject of jokes aimed at New Zealanders abroad.

The country is one of a handful in the world that’s still home to more sheep than people, but humans are catching up, according to new figures released Tuesday. (AP/NAN)(www.nannews.ng)

Edited by Cecilia Odey/Deborah Coker

 

 

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