Nigeria: NCRIB Seeks Tracking Of 2017 Budget Implementation

Yemisi Izuora

The Nigerian Council of Registered Insurance Brokers (NCRIB) has stressed the importance of early passage of budgets and advised authorities to always ensure the early preparation of the national budget so as to forestall the mistake of the past.

The President of the Council, Mr Kayode Okunoren who made the appeal in the June edition of Brokers evening hosted by Saham Unitrust Insurance Limited held in Lagos advised that the government should make a constant effort in removing all critical bottlenecks and bureaucratic restraint to prompt signing of the budget into law.

He said “it is disheartening to know that the budget of 12 months calendar got the assent of the FG for implementation the same year. I appeal to the FG to always put into consideration the plight of the common man on street when considering the budget”

He also applauded the Federal government for the N350 billion it plan to release for the first trance for implementation of the 2017 budget which large amount would be the channel to capital projects.

The NCRIB President further said that with the release of the N350billion for capital projects it is hoped that the nation will successfully get out of the economic recession.

He further advocated that the expenditure should be closely monitored to ensure that they are diligently prosecuted.

He called on the industry operators to take advantage of this expenditure to canvass for insurance of those assets as obtainable in other climes.

Speaking the managing director of Saham Unitrust Insurance Limited Mr. John Ijerheme said that the new management is poised to reposition the disclosed that as at May 2017 the company to play a leading role in the Nigerian insurance industry.

According to him, the company following its repositioning strategy the company premium income grew by 40 percent in 2017.

On claims, he said the company has taken claims payment as a key priority.”We assure our customers that claims are paid promptly and we will continue to put a smile on the faces of our clients and efficient service delivery.”

He added that as at May 2017 the company has paid out a total of N318,016,878million as claims against N315,973,103million it paid in the same period of 2016.

He assured the brokers that the management of Saham Unitrust will continue to put in its best to ensure that they deliver at all times beyond the expectations and ensure that a cordial mutual relationship is maintained between the company and the brokers.

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