Nigerian risk association launches joint certification with Chartered Institute of Stockbrokers

Nigerian risk association launches joint certification with Chartered Institute of Stockbrokers

Nigerian risk association launches joint certification with Chartered Institute of Stockbrokers

Nigeria’s Association of Enterprise Risk Management Professionals (AERMP) has signed a deal with the country’s Chartered Institute of Stockbrokers (CIS) to launch a joint Certification in Enterprise Risk Management and Compliance, as well as training and other capacity-building initiatives. Olayinka Odutola, director general/CEO, AERMP, said: “This collaboration indeed represents a new dawn for all financial market participants (capital market and…

Nigerian risk association to hold risk awareness week

Nigerian risk association to hold risk awareness week

Nigerian risk association to hold risk awareness week

The Nigerian Association of Enterprise Risk Management Professionals (AERMP) is to hold its second annual Enterprise Risk Management & Compliance Week. The event will run on 25-30 November and will include a conference, workshop and seminars. It will also include the induction of newly qualified members, a special event for the newly formed Women in Risk & Compliance group, and…

23 Nigerian insurers still to meet regulatory recapitalisation requirements

23 Nigerian insurers still to meet regulatory recapitalisation requirements

23 Nigerian insurers still to meet regulatory recapitalisation requirements

Twenty-three insurers and reinsurers in Nigeria have more work to do to meet new recapitalisation requirements from the regulator. However, the Nigeria Insurance Commission (Naicom) has reported that it has received plans from 47 insurers and two reinsurers and has granted “no objection” letters to proceed to 26 of those companies. Rasaaq Salami, head, commissioner for insurance’s directorate, said the…

Nigerian insurer launches online travel insurance

Nigerian insurer launches online travel insurance

Nigerian insurer launches online travel insurance

Saham Unitrust Insurance Nigeria is reported to have launched its travel insurance solution online. Working with Swan International Assistance, Saham Unitrust’s move will enable customers to buy their travel insurance policies from any part of the world. The company said this is part of its efforts to be innovative and continue to make insurance more accessible to the public. It…

Taking the credit

Taking the credit

Taking the credit

Access to credit has been a major concern to African business for many years, so risk managers from across Nigeria met recently to discuss credit risk and the threat it can pose Credit is indispensable in commercial transactions, whether in the financial or non-financial sectors, the Nigeria-based Association of Enterprise Risk Management Professionals (AERMP) has warned. Nigerian risk managers have…

Nigerians launch campaign to stop motor fraud

Nigerians launch campaign to stop motor fraud

Nigerians launch campaign to stop motor fraud

The Nigerian Insurers Association (NIA) has launched a campaign, known as ‘Wetin U Carry’, to ensure that motorists in Nigeria have genuine motor insurance policies. Yetunde IIori, director general of the NIA, said that of the estimated 12 million vehicles on Nigerian roads, only 2.5 million are recorded on the insurance industry motor insurance platform for vehicles operating genuine licences.…

Babatunde Fajemirokun promoted to MD at AIICO

Babatunde Fajemirokun promoted to MD at AIICO

Babatunde Fajemirokun promoted to MD at AIICO

Nigerian insurer AIICO Insurance has appointed Babatunde Fajemirokun as managing director/chief executive officer. Mr Fajemirokun replaces Edwin Igbiti, who retired on 11 July 2019 after 27 years of service. This appointment has been approved by the National Insurance Commission. Mr Fajemirokun started his career in 2001 as a visiting lecturer in the department of cconomics and enterprise at the Glasgow…

Nigerian insurer rebrands as SUNU

Nigerian insurer rebrands as SUNU

Nigerian insurer rebrands as SUNU

Equity Assurance Plc has announced that its name has officially changed to SUNU Assurances Nigeria Plc. SUNU Assurances Nigeria Plc is a member of SUNU Group and said it has the vision to be a “leading African insurance company”. The company recently notified the Nigerian Stock Exchange (NSE) of the name change, which then stated: “It is hereby informed that…

Nigerian risk association hold credit event

Nigerian risk association hold credit event

Nigerian risk association hold credit event

Credit is indispensable in commercial transactions, whether in the financial or non-financial sectors, the Association of Enterprise Risk Management Professionals (AERMP) has warned. Its CEO Olayinka Odutola said: “It is therefore critical for institutions to know the factors that can trigger inability or unwillingness of a customer or counterparty to meet commitments in relation to lending, trading, settlement and other…

Nigerian regulator says tougher capital requirements could end premium flight

Nigerian regulator says tougher capital requirements could end premium flight

Nigerian regulator says tougher capital requirements could end premium flight

The Nigerian regulator Naicom has been justifying its position on higher capital requirements, by highlighting the amount of premium leaving the country. Naicom’s director of policy and regulation, Pius Agboola, said the ongoing recapitalisation (which will require some insurers to triple their capital) is ultimately to position the sector to be able to handle large transactions in Nigeria as well…

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