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PMB urges insurance firms to improve efficiency

President Muhammadu Buhari has urged insurance companies in the country to improve their efficiency and honour claims in good time to policyholders.

The President gave the advice in Abuja during his conferment ceremony as the Grand Patron of the Chartered Insurance Institute of Nigeria, CIIN, by the Chairman and members of the Governing Council of the Institute.

The President commended the leadership of the Institute under Sir Muftau Oyegunle for bringing some sanity into the Nigerian Insurance Industry, as well as giving more visibility to the importance of the industry in national development, but counselled them to do more.

He said the Governing Council must dispel misconceptions about the insurance industry presently being held by a good number of Nigerians, relating to claims and the need for insurance.

President Buhari thanked players in the insurance industry, including the CIIN, for supporting the government in words and deeds, and for appreciating the progress made in various areas of development.

Specifically, the President highlighted the industry’s contribution of N500,000,000 to support the fight against the Covid-19 pandemic in its early days in the country.

He noted that the granting of insurance cover for all frontline health workers at concessionary premiums contributed significantly to the globally acclaimed success of Nigeria’s National Response to the pandemic.

The President told the leadership of the Institute that he would count on their continuous support, in his efforts to encourage Nigerians to join hands and hearts with the administration to create the Nigeria they dreamt about.

The President expressed appreciation on the conferment of the Fellowship award as the Grand Patron of the Institute, saying that he received it with honour.

Chairman of the Governing Board of the institute, Sir Oyegunle, had lauded the Buhari administration’s sustained efforts at eliminating poverty through the National Social Investment Programme, the Cash Transfer Scheme, and National Social Housing Programme, among others.

Reporting by Bello Wakili/Abdullah Bello, Editing by Tola Oguneye