Business
NBA President Urges Attorney Generals to Shun Corruption
The President of the Nigerian Bar Association (NBA), Afam Osigwe, has called on attorney generals across the country to develop the political will to combat corruption within their respective states. Osigwe made this appeal during a roundtable discussion with Attorneys-General and Commissioners for Justice from the 36 states, along with other key stakeholders, held on Monday in Abuja.
Speaking at the event organized by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Osigwe emphasized the importance of fighting corruption to improve transactional efficiency and foster a more effective society. He highlighted that streamlined processes could significantly enhance business operations and contribute to national development.
“It is not easy to make progress, but our commitment to reducing corruption and fostering efficiency will pave the way for a better future. If we do not fight corruption, we will fail to create a better society,” Osigwe stated.
The ICPC Chairman, Musa Aliyu, also spoke at the event, underscoring the need for a united approach to address the threats to Nigeria’s peace, governance, and socio-economic development posed by corruption. He highlighted the ICPC’s ongoing efforts to overcome legal and procedural challenges, including past resistance to enforcing anti-corruption measures beyond federal jurisdiction.
Aliyu referenced the Supreme Court ruling in the case of AG Ondo State v AG Federation (2002), which reaffirmed the ICPC’s mandate across all levels of government despite concerns related to federalism. However, he noted that ongoing legal challenges and court cases continue to impact the ICPC’s operations.
Aliyu urged state Attorneys General and other stakeholders to use their positions to promote justice and effectively combat corruption. He stressed that unity is crucial in the fight against corruption, cautioning against division along tribal, religious, or economic lines.
“The fight against corruption will fail if the nation is not united. We must come together as one people. The time has come when we must cease to treat one another as strangers in our own land. All hands must be on deck to raise our country from the valley of disunity, uncertainty, violence, and corruption,” Aliyu stated.
Former Kaduna Central Senator Shehu Sani has criticized the World Bank for worsening Nigeria’s economic difficulties. In a post shared on X, Sani accused the institution of projecting that Nigeria’s hardship would extend for another 15 years before the country could reach a better economic future. He questioned how many Nigerians would be left to enjoy that future, and how many African nations the World Bank has successfully helped to prosperity.
Sani’s remarks follow the World Bank’s latest *Africa’s Pulse* report, which forecasts that the Nigerian Naira will be among the worst-performing currencies in Sub-Saharan Africa by August 2024. The report placed the Naira’s decline alongside that of the Ethiopian Birr and South Sudanese Pound.
Heirs Insurance Group (HIG) recently announced impressive financial results for the 2023 fiscal year, marking significant growth across all key metrics. The Group’s Gross Written Premium (GWP) surged by 59.3%, from N19.9 billion in 2022 to N31.7 billion in 2023. This remarkable performance underscores HIG’s resilience and operational efficiency, further solidifying its position as one of Nigeria’s fastest-growing insurance firms.
Heirs General Insurance (HGI) saw a 77% increase in GWP, reaching N12 billion in 2023. HGI’s profit before tax (PBT) also rose by 203%, reflecting the company’s effective cost management. Similarly, Heirs Life Assurance (HLA) reported a 71% GWP increase and a staggering 395% rise in PBT. Both companies have demonstrated a strong commitment to customer satisfaction, disbursing billions in claims.
Beyond financial success, HIG actively engages in corporate social responsibility (CSR) projects, contributing over N100 million to education, community development, and financial literacy. With plans for future expansion and innovation, HIG is poised to remain a key player in Nigeria’s evolving insurance market.
Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to fulfill their tax obligations, emphasizing that government revenue is essential for delivering social services. Wike made this appeal during the inaugural Abuja Business and Investment Summit, held in Abuja on Wednesday.
Speaking on the summit’s theme, “Optimising Investment Through Partnerships,” Wike stressed the importance of collaboration to generate investment opportunities. He dismissed the misconception that the government does not need revenue, explaining that taxes are crucial for funding public services.
Wike reiterated that both investors and the government must benefit from such partnerships, ensuring that both parties “go home smiling” through a fair exchange of services and taxes.
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