News

Coalition for Peter Obi Advocates for Democratic Reforms Within Labour Party

Published

2 years ago

March 27, 2024

Preport

The Coalition for Peter Obi (CPO) has penned an open letter addressed to Comr. Julius Abure Esq., the National Chairman of the Labour Party. The letter puts forth a compelling case for inclusive congresses and transparent electoral procedures.

The CPO, a staunch supporter of the Labour Party and the Obidient movement, reaffirmed its steadfast commitment to the vision of rebuilding Nigeria alongside Peter Obi and Datti Ahmed. Following a pivotal online meeting convened on March 21, 2024, the CPO presented a comprehensive set of recommendations designed to enhance inclusivity and foster grassroots engagement within the party.

At the heart of their appeal lies the urgent call for the National Working Committee to ensure the unimpeded participation of all willing and dedicated members in the forthcoming congresses. Proposing a strategic approach, the CPO advocates for the commencement of congresses at the grassroots level, progressively advancing through wards, Local Government Areas (LGAs), and culminating at the state level. This, they contend, will empower members to actively shape the selection of representatives for the National Convention, thereby fostering a collective decision-making process.

Additionally, the CPO underscores the imperative of establishing Screening and Electoral Committees endowed with transparent mandates, the details of which should be made accessible to all members. They emphasize that transparency and accountability are indispensable for upholding the integrity of the electoral process.

In articulating their stance, the coalition highlights the paramount importance of democratic values and transparency, advocating for an inclusive platform where every member’s voice is heard and contributions are valued in shaping the party’s trajectory. They assert that inclusivity and grassroots engagement are pivotal for advancing the party’s strength and achieving its shared objectives.

In conclusion, the CPO extends gratitude to the National Chairman for considering their recommendations, expressing optimism that these proposed reforms will substantially bolster the Labour Party. They eagerly anticipate the implementation of positive changes that will reinforce the party’s internal democracy and propel its objectives forward.

The open letter was co-signed by prominent members of the Coalition for Peter Obi, including Barr Joshua Ebighiabi, National Coordinator of CPO, Pamson Dagyat, Chairman of CPO LP Convention Liaison, and Rev. Haruna Maidoki of the Initiative for Better and Brighter Nigeria (IBBN), among other notable figures.

The CPO’s impassioned appeal represents a significant stride towards instilling inclusivity and transparency within the Labour Party, emblematic of a broader commitment to democratic ideals and effective governance in Nigeria.

News

Legends Return to the Pitch: IASC Above 45 Tournament 2026 Begins with Blockbuster Opening Fixtures

Published

4 hours ago

August 4, 2026

Preport

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The stage is set for another memorable chapter in the history of the Island Allstars Sports Club (IASC) as the much-anticipated IASC Above 45 Tournament 2026 kicks off on Saturday, August 8, 2026, at the LBS Sports Arena, Lekki, promising an exciting display of football, sportsmanship and camaraderie among veteran players.

The annual tournament, one of the club’s flagship sporting events, celebrates the enduring passion, fitness and competitive spirit of football enthusiasts aged 45 years and above. It has become a unique platform where experience meets talent, bringing together distinguished members of the club to compete while strengthening the bonds of friendship that define the IASC family.

According to the fixtures released by the Sports Management Committee (SMC), the opening match will see Team A take on Team D at 8:30 a.m., while the second fixture will feature Team B against Team C at 10:30 a.m. Both matches will be played at the LBS Sports Arena, with the tournament concluding on August 15, 2026, when the champions will emerge.

Beyond the excitement on the pitch, the Above 45 Tournament continues to promote healthy living, active ageing and community engagement, proving that football remains a lifelong passion capable of inspiring generations.

This year’s competition is proudly supported by Sure B Homes, Dinice Royal Investment Limited, Network Times Nigeria Limited, and Cartel Beach House Del Viento, whose sponsorship underscores the growing corporate confidence in the vision of the Island Allstars Sports Club.

To ensure supporters across Nigeria and beyond do not miss the action, selected matches will be streamed live on Sports247 YouTube Channel and website: sports247.ng, allowing football lovers around the world to follow every tackle, goal and dramatic moment as it unfolds.

Speaking on behalf of the Sports Management Committee, the committee’s Secretary, Ugochukwu Chukwudalu, assured members and supporters of a professionally organised tournament that reflects the values of excellence, unity and fair play for which the club is known.

As anticipation reaches fever pitch, all roads lead to the LBS Sports Arena this Saturday for what promises to be an unforgettable football spectacle. For the players, it is another opportunity to chase glory. For the fans, it is a celebration of football at its finest—where legends return to the pitch and experience takes centre stage.

Business

Coronation Insurance, Coronation Life Meet NIIRA 2025 Minimum Capital Requirements Following Successful ₦9.2bn Capital Raise

Published

5 hours ago

August 4, 2026

Preport

Coronation Insurance Plc and Coronation Life Assurance Limited have successfully met the new minimum capital requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

This marks the successful completion of the Nigerian insurance industry’s year-long recapitalisation exercise as announced by the National Insurance Commission (NAICOM).

A statement released today by both underwriters, that the milestone follows the successful conclusion of a ₦9.2 billion private placement by both companies, which attracted strong participation from existing and new investors. The offer, comprising 4.2 billion ordinary shares, was oversubscribed, demonstrating strong investor confidence in the companies’ long-term strategy, sound corporate governance, and growth prospects.

Meeting the new regulatory capital requirements reinforces the financial strength of both Coronation Insurance and Coronation Life Assurance, positioning the companies to accelerate innovation, expand access to insurance solutions, and create greater value for customers, shareholders, and other stakeholders.

The strengthened capital base will support strategic investments in product innovation, digital transformation, customer experience, and the expansion of the companies’ distribution footprint. It will also reinforce their bancassurance partnership with Access Bank, enabling both companies to extend insurance solutions to customers across one of Africa’s largest banking networks.

Reacting on the milestone, Olamide Olajolo, Managing Director/Chief Executive Officer of Coronation Insurance Plc, said: “Meeting the new capital requirements under NIIRA 2025 is a significant milestone for our business and reflects the confidence investors continue to place in our strategy and long-term vision. The successful completion of our private placement is a testament to the strength of our governance, our business model, and our commitment to building a stronger, more resilient insurance company that consistently delivers value to customers, shareholders, and the wider economy.

“With our strengthened capital position, we remain focused on expanding our product offerings, deepening our distribution capabilities, investing in digital innovation, and delivering exceptional service across every customer touchpoint. We are well positioned to respond to emerging opportunities within Nigeria’s evolving insurance market while driving sustainable growth and operational excellence.”

Also Adebowale Adesona, Managing Director/Chief Executive Officer of Coronation Life Assurance Limited, “said: The successful completion of this recapitalisation represents much more than regulatory compliance; it is a strong affirmation of our commitment to building a future-ready life insurance business that inspires confidence and delivers lasting financial security for our customers.

“This stronger capital base enables us to deepen our investment in innovative life insurance and wealth creation solutions, enhance our digital capabilities, strengthen our customer experience, and expand access to insurance through strategic partnerships. As Nigeria’s insurance industry enters a new era, Coronation Life Assurance is well positioned to help more individuals, families, and businesses protect what matters most while creating sustainable long-term value for all our stakeholders.”

Both firms continue to strengthen their market position through customer-focused solutions spanning general insurance, life insurance, risk protection, savings, retirement planning, and wealth creation for individuals, businesses, and institutions.

The successful recapitalisation underscores growing investor confidence in the long-term prospects of Nigeria’s insurance industry while reaffirming Coronation’s commitment to building resilient financial institutions that create sustainable value.

With enhanced financial capacity, strong corporate governance, and a clear strategic growth agenda, Coronation Insurance and Coronation Life Assurance are well positioned to accelerate innovation, broaden market access, deepen customer relationships, and contribute meaningfully to the continued development of Nigeria’s insurance sector under the new regulatory framework.

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