Business

Inspen Retirement summit for informal sector workers holds Today

Published

6 months ago

May 20, 2026

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How to transition informal sector workers from “daily survival” to a life of “structured retirement” through insurance and pension instruments is the question experts will be providing answers to at the 2026 Inspenonline Retirement Summit holding tomorrow.

The summit, which is the third edition in the series, is scheduled to hold on Wednesday, May 20, 2026, at the Nigeria Employers’ Consultative Association (NECA) House, Plot A2, Hakeem Balogun Street, Alausa, Ikeja, Lagos, starting at 9:00am prompt.

According to the Promoter of the summit, who is also the Publisher of Inspenonline, Chuks Udo Okonta, the event addresses a critical gap in Nigeria’s financial ecosystem: the vulnerability of the informal sector.
With over 90 per cent of the workforce operating outside formal structures, Okonta noted that the summit serves as a strategic roadmap to ensure that every Nigerian, regardless of their employment status, can retire with dignity and financial security.

He said the summit aims to bridge the financial inclusion gap by exploring how the Personal Pension Plan (PPP) and various Life Insurance products can be tailored to the irregular income streams of informal workers to ensure they save towards a comfortable life in retirement.

Dignitaries already lined up to brainstorm at the event include the Chairman of STI Leasing Limited, Tom Ogboi, who will preside as the Chairman of the event.

The Commissioner for Insurance, Olusegun Omosehin, and the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, are expected as the Special Guests of Honour.

The Keynote Address will be delivered by the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, who will provide economic perspectives on integrating the informal sector into the national financial safety net.
Other prominent industry captains confirmed for the summit are: the Director-General, Nigerian Insurers Association (NIA), Mrs. Bola Odukale; Chief Executive Officer, Pension Fund Operators Association of Nigeria (PenOp), Anthonia Ifeanyi-Okoro; President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe; and the National President, Association of Registered Insurance Agents (ARIA), Mayowa Olatubosun.
A robust panel session has also been curated to dissect the practicalities of pension and insurance adoption for informal workers.

The paper discussants include: the National President, Association of Small Business Owners of Nigeria (ASBON), Dr. Femi Egbesola; Managing Director, Coronation Life Assurance Limited, Adebowale Adesona; Managing Director, Leadway Pensure Limited, Olusakin Labeodan; and the Chairperson, Nigeria Labour Congress (NLC), Lagos State Chapter, Comrade Funmi Sessi.

The post Inspen Retirement summit for informal sector workers holds Today appeared first on Business Today NG.

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FG concessions Port Harcourt airport, assures workers of job security

Published

5 hours ago

November 13, 2026

PlateauReports

The Federal Government has signed a concession agreement with PH Airport Limited to manage and develop the Jeremiah Obafemi Awolowo International Airport, Port Harcourt, assuring aviation workers that the arrangement will not lead to job losses.

Minister of Aviation and Aerospace Development Festus Keyamo and the group managing director of PH Airport Limited, Eyo Asuquo, signed the deal, following consultations with aviation labour unions.

The minister’s media aide, Tunde Moshood, disclosed this in a statement on Thursday, saying the unions endorsed the agreement after receiving assurances that no aviation worker will lose their job because of the concession.

The agreement marks a new phase in the government’s plan to attract private investment into airport infrastructure and improve the management of selected airports across the country.
According to the statement, Mr Keyamo met with aviation union leaders before the formal signing to address concerns about the concession’s implications for workers.
Speaking on behalf of the unions, Ben Nnabue said workers’ welfare and job security remain central to their consideration of the agreement.

He added that organised labour will not support an arrangement that threatened the livelihoods of its members, adding that the unions are satisfied with the assurances received from the government and the concessionaire.

He also noted that the endorsement followed extensive engagement on the airport’s future and the potential effects of private-sector participation on aviation workers.

Mr Asuquo said the company intends to invest in infrastructure, improve operational standards and expand economic activities around the airport.

He described Port Harcourt’s location within the Gulf of Guinea as an advantage that could strengthen its role in regional commerce, investment and connectivity.

“Our vision goes beyond taking over the management of the airport. We are committed to driving development, expanding opportunities and creating additional jobs through investments and the growth of airport-related activities,” he stated.

READ ALSO: EXCLUSIVE: EFCC charges former Port Harcourt, Warri refinery MDs with money laundering

He added that the company intended to unlock the airport’s economic potential and strengthen its position as an aviation and commercial hub.

PREMIUM TIMES had earlier reported that the Federal Executive Council approved the concession of Port Harcourt International Airport in November 2025, alongside other projects aimed at modernising Nigeria’s aviation infrastructure and attracting private investment.

The approval formed part of the Federal Government’s broader airport concession programme, which seeks to improve airport infrastructure, operational efficiency and commercial viability through private-sector participation.

The government has argued that private investors could provide the capital and expertise needed to expand airport facilities and develop revenue-generating activities, particularly those outside conventional aviation operations.

The concession programme is designed to attract investment into airport terminals and related services, while the Federal Airports Authority of Nigeria continues to perform its statutory responsibilities.

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Business

Veritas Kapital Assurance Records 54% Growth in Total Assets to ₦54.56 Billion, Strengthens Financial Position

Published

13 hours ago

November 13, 2026

PlateauReports

Veritas Kapital Assurance Plc has recorded a 54 per cent increase in total assets to ₦54.56 billion as at September 30, 2026, compared to ₦35.40 billion recorded in the corresponding period of 2025, reflecting growth in the company’s financial position.

The company’s unaudited financial results for the nine months ended September 30, 2026, also showed a 60 per cent increase in total equity, which rose from ₦19.12 billion in 2025 to ₦30.59 billion.

This growth was supported by an increase in share capital from ₦6.93 billion to ₦14.43 billion and share premium from ₦663.6 million to ₦8.16 billion.

Further reflecting the growth in its financial position, cash and cash equivalents increased by 28 per cent, from ₦7.98 billion to ₦10.17 billion, while investment securities held at amortised cost more than doubled, rising from ₦12.45 billion to ₦25.64 billion.

The company also recorded a 34 per cent increase in net investment income, from ₦2.61 billion in the corresponding period of 2025 to ₦3.51 billion in 2026. This performance reflects the contribution of its investment portfolio to income during the period.

Commenting on the results, the Managing Director/Chief Executive Officer, Dr. Adaobi Nwakuche, said: “Our nine-month performance reflects notable developments in our financial position, particularly the growth in our asset base, equity position and investment income.

“As we continue to build on these gains, our focus remains on strengthening our core insurance business, enhancing operational efficiency and improving overall business performance.

“Our commitment to meeting our obligations to policyholders remains central to our business as we work towards delivering sustainable value to all stakeholders.

The results also highlight areas requiring continued management attention within the company’s underwriting operations. Insurance revenue stood at ₦15.41 billion, compared to ₦16.31 billion in the corresponding period of 2025, while the company recorded a loss after tax of ₦3.84 billion, against a profit after tax of ₦4.12 billion in the previous year.

This performance was largely attributable to increased insurance service expenses and net expenses from reinsurance contracts held.

Overall, the results reflect growth in Veritas Kapital Assurance’s asset base, equity position and investment income, alongside areas for improvement in its insurance operations.

The company remains focused on strengthening its core business, enhancing operational efficiency and sustaining its commitment to delivering dependable insurance solutions and long-term value to its stakeholders.

About Veritas Kapital Assurance Plc
Veritas Kapital Assurance Plc is a Nigerian insurance company providing general insurance solutions to individuals and businesses. The company is committed to delivering reliable insurance services and building lasting relationships with its customers and stakeholders.

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