SOME INSURANCE COMPANIES TO GO UNDER AS CONSOLIDATION IN THE INDUSTRY IS IMMINENT

Alhaji Mohammed Kari, Commissioner for Insurance

Tectono Business Review gathered that consolidation exercise will soon commence in the insurance industry in Nigeria and the financially weak insurance companies that cannot merge or be acquired will have their licenses revoked.

This development was made known by the Commissioner for Insurance, Alhaji Mohammed Kari. While speaking at the February edition of Members Evening of the Nigerian Council of Registered Insurance Brokers (NCRIB) hosted by NEM Insurance Plc at NCRIB House in Yaba, Lagos, Alhaji Kari made it clear that the decision to embark on the consolidation exercise by NAICOM became a necessity owing to the fact some insurance companies are not financially buoyant enough to pay claims and salaries.

According to Kari, out of all the insurance companies in Nigeria listed on the floor of Nigerian Stock Exchange, only about seven have been paying dividends to shareholders in the last three years. He started that the consolidation exercise would make it possible for Nigeria to have financially strong insurance companies that can compete with their counterparts all over the world.

Hmmm!!! Folks, have you ever imagined how the financial status of your firm will be when more than 20,000 CEOs and other key decision makers of blue-chip corporations pay for your products and services or even give you very juicy deals. The link below will tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html

                     

Have you heard this? Many Nigerian exporters have been defrauded of huge amount of money in the process of exporting commodities to foreign countries. Do you know why? They were not trained on export operations, management, documentations and the best methods of payment in export trade. This is terrible!!! Nigerians cannot continue to lose money to foreigners in the course of export business. Exporters, why don’t you get a practical manual that teaches the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers. It teaches export operations, export management, export documentations and methods of payment in export trade? It is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on the link below:

http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html