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Reps Probe 25 Insurance Firms Over Alleged Financial Infractions
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By Gloria Ikibah
The Chairman House of Representatives Sub-Committee on Capital Market and Institutions, Rep. Kwamoh Laori, has revealed that 25 insurance companies are being investigated for financial Infractions.
Rep.Laori made this disclosure during a meeting with the management of the insurance companies on Monday at the National Assembly Complex in Abuja.
He explained that the committee had slated the meeting based on s petition on infractions by the insurance companies which resulted in the loss of a significant revenue from the companies.
And he said the companies have been invited to agree or debunk the liabilities.
He said: “This committee is saddled with the responsibility of a petition based on infractions from these insurance companies in respect of the operations and non compliance with certain statutory provisions.
“And of course, those infractions has resulted into federal government losing hundreds of billions of revenue from these insurance companies. That is why they are being invited and each of them have been served and given the extent of their liability and for them to come in and agree or debunk those liabilities.
“That is the essence of all these things we are doing here to ensure that what is due to the federal government comes to it through the operations of these private entities”.
According to the sub-committee chairman, it was the duty of the National Assembly to track revenue that should accrue to the federal government.
He explained that the companies were expected to appear before the Committee to explain their financial standings.
“Some of the companies ran to court and have served the House with court process. It’s for us and the House to sit down and look at the process.
“If it in no way goes to the basis of what we are doing here, we would definitely proceed but if it does, then we have to await for the decision of the court in respect of that,” he added.
He noted that heading for the court would be an attempt by the companies to “throw a spanner into the works of the National Assembly”.
Lamori assured that the committee would continue to insist that Chief Operating Officers of the companies appear before the Committees rather than sending unqualified representatives.
“We have insisted that the Chief Operating Officers appear in persons so that they can answer some of the questions. Like you can see, one of the COOs sent somebody that could not answer any of those allegations that are before the committee, that is not good.
That is why the committee still makes the order that only the COO that will appear in person, so, that they can come and answer for these allegations that are against them,” he stated.
Rep. Laori indicted the National Insurance Commission for not doing their job.
“NICON, of course has a supervisory role in respect of that and I’m not holding brief for them. But, I think if they are doing their job, we will not be here talking about this. So, I expect them to sit up.
“It’s because there are certain lapses somewhere, that is why today we are doing what we are doing here in terms of investigation,” he added
Seventeen of the companies who went to court, sent their attorney, Abimbola Kayode to represent them at the hearing.
News
Nigeria-China Deepen Cultural Ties With New Media Partnership
By Gloria Ikibah
Nigeria and the People’s Republic of China have strengthened their cultural and creative ties with the signing of a Content Exchange and Cooperation Agreement between the China Movie Channel (CMC) and the Nigerian Television Authority (NTA), a move expected to boost film production, media collaboration and cultural diplomacy between both countries.
The agreement was signed in Abuja during the China-Nigeria Film and Literature Symposium, which brought together diplomats, government officials, filmmakers, authors and other stakeholders from the creative industries of both countries.
Speaking at the event, Chinese Ambassador to Nigeria, Yu Dunhai, described the partnership as another milestone in the long-standing relationship between Nigeria and China, noting that literature and film have remained powerful tools for strengthening mutual understanding between peoples.
He said celebrated Nigerian writers, including Wole Soyinka, Chinua Achebe and Chimamanda Ngozi Adichie, as well as renowned Chinese authors such as Mo Yan, Yu Hua and Mai Jia, have continued to build bridges of friendship through their literary works.
According to the envoy, both countries have established themselves as global forces in visual storytelling, making the collaboration both timely and strategic.
China, he noted, currently operates more than 93,000 cinema screens and produces about 700 films annually, while Nigeria’s thriving film industry releases over 2,000 films each year.
He also pointed to the growing appreciation of each country’s productions, citing the successful screening of the Chinese film My People, My Country in Nigeria and Nigerian productions such as Lionheart and October 1 in China.
“The mutual appreciation of literature and film between the peoples of China and Nigeria is rooted in close friendship and cultural ties,” Ambassador Yu said.
He added that the initiative aligns with Chinese President Xi Jinping’s Global Civilization Initiative and President Bola Ahmed Tinubu’s vision of strengthening cross-border cultural cooperation.
The ambassador further noted that the agreement comes at a significant moment, marking the 55th anniversary of diplomatic relations between Nigeria and China, the China-Africa Year of People-to-People Exchanges and the 105th anniversary of the Communist Party of China.
Representing the Federal Government, Permanent Secretary in the Ministry of Art, Culture, Tourism and Creative Economy, Abdulkarim Ibrahim, described the agreement as a major boost for Nigeria’s creative industry and digital media ecosystem.
“This partnership will create new opportunities for professional development, technological innovation, and co-productions,” Ibrahim stated.
He praised China for its continued support through fully funded educational, technical and capacity-building programmes, which he said have benefited many Nigerian public servants and professionals in the creative sector.
According to him, as the Federal Government intensifies efforts to harness the creative industry as a driver of economic growth and employment, international collaborations such as the one with China will provide the technical expertise and global exposure needed to accelerate that vision.
Also speaking, Director-General of the Nigerian Television Authority, Salihu Abdulhamid Dembos, said the agreement will significantly improve content sharing between both countries and open new opportunities for audiences to access diverse productions.
He explained that the partnership will also promote wider accessibility through emerging technologies, including the possible integration of Artificial Intelligence-powered translation systems to enable viewers in both countries to enjoy films and television content without language barriers.
The symposium ended with interactive panel discussions involving Nigerian and Chinese filmmakers, writers and media experts, who explored opportunities for joint productions, talent development, content exchange and deeper collaboration between the creative industries of both nations.
Stakeholders expressed optimism that the agreement would not only strengthen diplomatic relations but also create fresh opportunities for cultural exchange, innovation and growth in the film and broadcast sectors.
News
Fayose inaugurated as REA board’s chair, promises unprecedented results
The Minister of Power, Mr Joseph Tegbe, on Friday inaugurated former Gov. Ayo Fayose of Ekiti, as Chairman of the Governing Board of the Rural Electrification Agency (REA).
Also inaugurated are Alhaji Ahmadu Abubakar and Mr Ilyasu Makinta and three others as members and non-executive directors, with Mr Abba Aliyu as Managing Director.
Fayose, who thanked President Bola Tinubu for finding them worthy said his mission in REA is to take the agency to greater heights by providing the needed political will.
He promised to do everything possible to ensure that the agency gets funds to achieve its long and short-term programmes for Nigerians to get electricity.
“Work has started in earnest; we are reaching out very fast and appealing to people to ensure the work is done.
“I want to use this window to assure Nigerians that your expectation about my appointment and my colleagues will not be dashed.
“We will give our best to achieve the renewed hope of President Tinubu for the country to be better for us all,‘’ he said.
He noted that a number of challenges faced in the power sector were at the grassroots.
He said that the assignment given to them was beyond providing electricity but also looking at the population of the country who need to feel the impact of the energy.
“When this happens, the people will forever be indebted to the agency,” he said
On his part, REA’s managing director thanked Tinubu for the opportunity to serve.
Aliyu promised that the agency would continue to do its best to ensure electricity gets to the served and underserved communities.
Earlier, Tegbe said the Nigeria electricity sector was moving from counting kilowatts and megawatts to powering more communities in the country.
Tegbe said this while inaugurating the Governing Board of the Rural Electrification Agency (REA) in Abuja on Friday.
The minister explained that REA occupies a unique and strategic place within Nigeria’s power sector architecture, adding that its mandate extends well beyond connecting communities to electricity.
“We are moving from just counting kilowatts and megawatts to how many communities and people were powered in the country.
“REA is fundamentally an institution for expanding opportunity.
“Every mini-grid inaugurated, every solar home system deployed, every market, school, primary healthcare centre, farm, or productive enterprise electrified represents an investment in human capital, economic inclusion, and national prosperity.
“As we continue the implementation of the Electricity Act and deepen reforms across the Nigerian Electricity Supply Industry, the role of REA has become even more significant, ‘’ he said.
The minister said that the agency serves as the bridge between national policy and grassroots impact by ensuring that “the benefits of power reforms are being felt across the country.
“Not only in our major cities but also in the remotest communities across the federation,‘’ he said.
Tegbe said that the constitution of the board was another demonstration of the unwavering commitment of
Tinubu to strengthening governance in institutions.
This, according to him, is entrenching a culture of accountability, strategic oversight, and excellence across the public sector.
The minister said that the board assumed office at a defining moment, adding that their stewardship must be guided by strategic thinking, transparency, innovation, and a steadfast commitment to provide value for money.
He said that the members were expected to provide clear policy direction, strengthen institutional governance, and safeguard public resources.
He urged them to encourage productive partnerships with development partners and the private sector, and ensure that REA remains a model public institution that delivers measurable impact.
“Most importantly, I encourage you to continually ask one fundamental question whenever decisions come before the board: “How does this improve the lives and livelihoods of ordinary Nigerians?
“If that question remains our compass, I have no doubt that the agency will continue to exceed expectations”.
News
Reps Minority Caucus Fault Tinubu Over Osun Accounts, Allege Plot to Intimidate Opposition
…say President’s directive to EFCC exposes contradictions as caucus alleges pattern of political pressure ahead of governorship poll
By Gloria Ikibah
The House of Representatives Minority Caucus has accused President Bola Ahmed Tinubu of issuing what it described as a “panicky, belated afterthought” directive to the Economic and Financial Crimes Commission (EFCC) over the freezing of Osun State Government accounts, insisting that the development exposed contradictions within the Federal Government and an alleged attempt to intimidate the state ahead of next week’s governorship election.
In a statement jointly signed by the Minority Leader, Rep. Fredrick Agbedi, and the caucus spokesperson, Rep. Afam Ogene, and made available to journalists in Abuja on Friday, the lawmakers argued that the President’s instruction directing the anti-graft agency to vacate the order freezing the state’s accounts was prompted by widespread public criticism rather than a commitment to the rule of law.
According to the caucus, the directive revealed what it described as “a government at war with itself.”
The lawmakers pointed to conflicting public statements issued by the EFCC and the Presidency on Thursday.
While EFCC spokesman, Wilson Uwujaren, reportedly stated during a television interview that the freezing of Osun State’s accounts was carried out “without a valid court order,” the Presidency later directed the commission to approach the court to vacate what it described as an existing order.
“So, which is it? Was there a court order or not?” .
“Is the President not aware of what his own appointees are saying and doing? Has the President lost control to his army of sycophants who behave like lords over the people? Or are they simply trying to hide an illegality that has already been exposed?”, the caucus questioned.
The Minority Caucus further alleged that senior presidential aides were among the first to circulate and defend the EFCC’s initial statement on the matter.
“It is, therefore, insulting for the President to pretend ignorance. Nigerians are not fools,” the lawmakers said.
The caucus maintained that the controversy surrounding the freezing of Osun State’s accounts was only the latest in what it described as a sustained pattern of actions targeting the state.
According to the lawmakers, the Federal Government had, for months, withheld statutory allocations meant for local government councils in Osun State.
“For months, the Federal Government has illegally withheld and seized statutory allocations due to Osun Local Governments. This is economic strangulation aimed at crippling governance at the grassroots ahead of elections,” the statement said.
The caucus also alleged persistent violence by members of the All Progressives Congress (APC) and what it described as imported thugs, accusing the police of failing to respond appropriately.
It further condemned what it called the “Gestapo-style arrest and detention” of the Secretary to the Osun State Government, Teslim Igbalaiye, and others.
According to the lawmakers, the arrests amounted to “a direct attack on the institution of the state government.”
They also criticised the conduct of the Osun State Commissioner of Police and the outcome of a recent visit by the Inspector-General of Police, particularly allegations that the Osun State Government was harbouring hoodlums within Government House.
“This is not policing. It is partisan propaganda in uniform,” the caucus stated.
The opposition lawmakers further accused some presidential appointees of making what they described as “shocking, unpresidential, and inciting statements” capable of undermining public confidence in the administration.
“The mask is off. Nigerians can now see clearly that the APC has weaponized federal institutions against opposition states – a dress rehearsal of what is to come in the 2027 general elections.
“Yes, Mr. President hails from Osun, but the state can not be a personal fiefdom; he must therefore allow the people to freely choose who governs them.
“The people of Osun should be given the enabling environment to freely exercise their constitutional right to vote, without fear, coercion, or voter apathy engineered by state terror.
“Violence, intimidation, economic sabotage, and the misuse of federal agencies have NO place in a democracy”, it noted.
The caucus warned against any attempt to influence the outcome of the forthcoming governorship election through the use of state institutions.
The lawmakers also called on civil society organisations and the international community to closely monitor developments before, during and after the election, urging them to hold both the APC and the Federal Government accountable for any breakdown of law and order.
“Osun is not a conquered territory. You will not rig this election through EFCC, through the Police, or through thuggery.
“Osun people will vote. Osun people will be protected. And democracy will prevail.” the statement added.
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