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DAILY TRUST

Tuesday. May 29. 20 12

21

Business

Why p,atronage for insurance stocks waned, byex erts F.... IIpMt~a..

Ahhough the 5«tOf "}'II ental mit in the NigcN econ-

MANY ioWSIon In the N'1Ffian capII~ IIlOl.Ii:elInvat lbar ~in lhc rnarUt ~ 01 mwnIon IDW:WDeDI ather through prict apprcdMion, dIVidmd. or bonus ksue. Bur CJVa" the yean. moil of the irIauancc ItOCb IWed on the floor of lhc Nigrmn SIock ~ (NSE) hlvr f.Ukd 10 ddwn and ~ up 10 e:tp«t;IllOtlS of 8fOWth as apnimad an the ballklnB and other ICCUIn.

Insurers demand enforcement of insurance laws f O R IlK- IORlBIiCC indus 10 Nigeru 10 thnve. Ippropn<ltr irulInn« bows musl be' enfOf"Ccd. ~r Il y

man oflhc

Nige:ri~

trSAuoc~IJOD

lmur (NIA) Olu-

wI.l.allipo-Ajayi. huNHl He Ioid new~mcn m up thai huunnce pRIC lice In Nlgctlii will requ ire the mf~mtnl o£laws (or iI grow tic l10Ied (lui the ~nsk>ns mduslrY bas bc-rn able 10 accumulate I h~ much funds bcausr 0( lilt l;Iow lhal compel lhe public. 10 comply WJlh the PC'rUtoo RC"formAcu. According 10 Ihe NattOOa.l InsuBOCC' Com· ml1.S.JOn (NAICOM),lnsUT .lIKe conlnbullon to Nlga 1.1', GOP i.5 II In Ibysmal 0 .72 pc'fCC"n1 f'C'r mnum, lu IlC't pn':mium is N97 billion whlloC" tOl:,d gJOii rre·

mlum IS N I 56 billion Thu periOlTlWlCC', InduStry apcru agrC'C ~ a far cry from whal the tndustry is capable of sen e~ung. Though,NA ICOM largets Nt .1 Irillion gross premium Ihrough enforct+ mc:nI 0( (ompulsory illSllr ance, the target ouy not be achieftd In 2013, the pro Jccled dale. Mr Apylls of the opinion lhaI based on Nlgcri.J.ns' dispo6iOOn 10 insurance, • at )'Ot.I don'! enfOrce Iht: compuJsory insuBnces, lhey wouldn'l buy.lie also noted that the: industry's dC"vdoP~nla1 probknu can be allrlbuted 10 broch of prompc premi· unu' payment by govern InC'tlt and indlVldua4. ~1f'O"Apifl. aha lrac«i the industryi problems 10 the high Ievd of unethical pnctka by openton.

Institute partners teachers F... OIriI",....~ PRESIDENT and OWe· of lhe 0Jarte-red lnsw1wcC' InSlllulC' of Ntgrra (OIN), Dr Wok Adcumdun has 5iUd the ilUlitulC' as partnC"ring '" Ith tachC"n U1 Koondary and lertW)' irUtJl;uUorll to 1ncuIClle msunmcC' educ:a11Ofl on IM5Iudmu. Adrumehm, dlSdo5td Ihi.5 .... • InC'dbi parky ill IJW1 of Council

......

lie 5iUd the am II lev· eng.tng on the approvV oJ

~ curriculum in schools 10 ~ that apab&C' twxk IIR: rccruilcd 10 t.tach imunncC' Mlh;ccts in

"""""-

He abo spokt:on the ntcd lOr opcnlOn 10 C'f11bracC" ~ nW"kdmg lo lheir 0JlC'Dl1OnS, Wdinc lhiIII rnukcun£ pracnlla kwmidabk opponUIIII}' m brnk· log nwkrting barrins in a multi-lingual coumry, add Ingthatlhc~~

try's nJatkC"l pcnd~ion has conWlued to be • m;&jcf"

probI<m.

FADAMA III gulps N180m in Kogi Fn:n IJsIMI olw.. u.p ABOUT NIiIO miIIam las

been apcodcd m FADAAiA 1II projccb .:ross the tlutt ~ dsricu In Kqp

_--

Sl-.~~fAD..

AMA

UI

the JlIIe. IX. PlIuI

....

.....I~""""'''''''''''''' . AdM. ",......

prq«tS III 0Ir.ent and Ci.dIlln ~ CcIIIraI ~ ruI disa:na. He aid 10 miUlC RISUUlDbty ~ the prq«U. rao;h srouP fA the FADAMA

c.omn..n.y """"'""" (FCA) ha5 tqlllty bm mt3DI

pows and doled 111 17. 16 poa1ts lag ¥I-r. k. Fndaytnnsbhng 10

omy. the peri:nrwa cLinsunnc:r aocb III Ihr ROCk Il'\Il'Ut

I &J8 ~ poU1lS kIu.

h;ts not been Ya'J' proftt.abk. IIIIlhc~oIthe:5«tOron lhe NSE, ~ 1hut can rnaJ thitt imunnct iIOd.J have not btal doing wei

Simllarty. thr: eqwua: ..-narU!: c:apt...k.woa_appndalcd from N6.S3J InIlioo which Ilopmcd litt ye;u 10 N 7.090tnIlion

L.ooIuns

WIer lhc btpnrung 0( IhlS year as d.e SC'CIOI' I"l'COf'Ilcd • dcdmt ofll .4' pe:rcerM wtuJe thttnllR markd pned 8.5.3 pcrcml IUlCC bcgwung ci lhe ~ TlwNSE In:swww:c Inda:opmcd lhc)Gfwnh 141.54 basu.

when.~iast\OllCltk~_ HoweYcr, 00iI 01 JO equihlS listed W IIlA1IaDD: ~ oo/y SO: scocks IYvc ~ ~ wluJc 24 ache-Inrc on IW value (SO

kobo pcr~)_ 1lw:5lodt with h p I' urR-n1 rn;arM pot:e In the J«lOJ 15~ anJ AliaJlnwr .net' WIlh NI .7" L.obo..


DAILY TRUST, 29 MAY, 2012