Business
Nigerian Insurers Mourn Former NCRIB President Rotimi Edu
BY NKECHI NAECHE-ESEZOBOR—The Nigerian Insurers Association (NIA) has expressed deep sorrow over the death of former President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Barrister Rotimi Edu, describing his passing as a monumental loss to Nigeria’s insurance industry.
In a statement issued by the association, the NIA said the late Edu was an outstanding leader, accomplished legal practitioner, and a respected figure whose contributions significantly shaped the growth and regulatory development of the insurance sector in Nigeria.
The association noted that Edu, who served as the 21st President of the NCRIB, was widely admired for his commitment to professionalism, ethical standards, and industry unity. According to the NIA, he championed stronger collaboration between insurance brokers and underwriters, helping to deepen cohesion within the sector.
“Barrister Rotimi Edu was a titan whose dedication to professionalism and ethical conduct remained exemplary throughout his career. His passing leaves a huge vacuum that will be deeply felt across the financial services industry,” the statement read.
The NIA further highlighted his strategic contributions as a member of the National Institute for Policy and Strategic Studies (NIPSS), Kuru, where he consistently advocated reforms aimed at aligning the insurance industry with evolving economic realities.
The association extended its condolences to the President and Governing Board of the NCRIB, the entire brokerage community, as well as Edu’s family, friends, and professional associates.
While mourning his death, the NIA said it takes solace in the enduring legacy of integrity, visionary leadership, and institutional progress he left behind.
The association prayed for the peaceful repose of his soul and for strength for his family and the insurance industry to bear the irreparable loss.
The post Nigerian Insurers Mourn Former NCRIB President Rotimi Edu appeared first on Business Today NG.
The Federal Capital Territory (FCT) Police Command has commenced a fresh operation targeting vehicles with illegal tinted windows, concealed number plates and improper registration across Abuja.
FCT Commissioner of Police Ahmed Muhammed Sanusi disclosed the development during a media briefing on Friday.
He said security reports indicated that criminal suspects often use such vehicles to avoid identification and carry out unlawful activities.
According to the police chief, cases of kidnapping and the notorious “one-chance” robberies have been linked to vehicles operating with hidden identities.
Sanusi noted that tinted windows and covered registration plates make it difficult for security agencies to track offenders and investigate crimes.
He stated that enforcement teams have already been deployed across the territory to ensure compliance with existing regulations.
The commissioner clarified that the exercise is aimed at motorists violating the law and not those with valid approvals for tinted glass.
He revealed that more than 30 vehicles have so far been impounded for breaching the regulations and that offenders would face prosecution.
Sanusi urged residents to report suspicious persons, vehicles and activities, stressing that the operation is part of broader efforts to improve security and curb crime in the nation’s capital.
The post FCT Police Launch Crackdown on Illegal Tinted Vehicles appeared first on Business Today NG.
Nigeria has received multiple funding offers from investors and institutional lenders, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Speaking in an interview with Bloomberg TV, Mr Oyedele said the current market environment presents an opportunity for the country to refinance some of its existing debt while mobilising additional resources for development.
“We think that the timing is good for us to be able to maybe even refinance some of our expensive past debts, but also to raise more funding for our development at this critical time,” he said.
Responding to questions on whether Nigeria would pursue a Eurobond issuance or other commercial financing options, the minister said any decision would depend on prevailing market conditions, the amount of funding required and the speed at which the government intends to access the funds.
He noted that the country currently has several financing options available.
“We have a lot of offers, there is a lot of interest in Nigeria by investors, which is good for us,” Mr Oyedele said.
He added that Nigeria is also engaging with institutional lenders, including the African Finance Corporation (AFC), the African Development Bank (AfDB) and Afreximbank, alongside financing arrangements involving other countries.
“We have many options,” he noted.
ALSO READ: Nigeria eyes debt refinancing, fresh funding — Oyedele
Mr Oyedele explained that the government would carefully evaluate the cost, risks and suitability of available funding sources before deciding on the most appropriate financing strategy.
According to him, the objective is to ensure efficient use of resources while supporting the country’s development priorities.
“The goal is to get the best results from every dollar or every naira that we spend,” he said.
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