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Defeated APC Reps candidate in Kogi congratulates winner

Published

3 years ago

on

February 27, 2023

By

Seun Owope

Defeated APC Reps candidate in Kogi congratulates winner

Mr Florunsho Olafemi, the All Progressive Congress (APC) candidate for Yagba Federal constituency in Kogi, has congratulated the winner of the election, Mr Leke Abejide of African Democratic Congress (ADC).

”I take this opportunity to congratulate you on your well deserved victory,” Olafemi said in a statement issued on Sunday Olafemi in Lokoja.

”With this victory, I am confident that the issues and challenges facing our people will be addressed.

”I also pray you will help create a platform where new and young minds will emerge to build a better Yagba land.”

He urged Abejide to strive to fulfill all the promises he made to the people of the constituency.

”With the elections behind us, please, let me know how we can collaboratively work for a better Yagba Land. It shall always be “Yagba First”, Olafemi added.

Source – NAN

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"We have all paid for these processes, and my company has been verified. More than 70 per cent of the companies have completed the verification exercise," she said. The recapitalisation programme, introduced by NAICOM under the Nigerian Insurance Industry Reform Act, 2025, is designed to strengthen the financial health of insurance companies by raising minimum capital requirements. Regulators believe the initiative will improve insurers' ability to settle claims promptly, underwrite larger risks, and restore public confidence in Nigeria's insurance industry. Monthly Capital Monitoring Nwachukwu explained that since December 2025, insurance companies have been submitting monthly capital position reports to NAICOM, reflecting changes arising from underwriting activities, claims payments, investments, and asset transactions. The reports, she noted, have enabled the regulator to closely monitor each company's compliance journey ahead of the July 31 deadline. 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He added that the reform could also accelerate innovation in insurance products, digital transformation, and risk management practices, enabling insurers to serve a broader segment of the Nigerian economy. However, experts caution that recapitalisation alone will not solve the industry's longstanding challenges. They argue that regulators and operators must also intensify efforts to improve insurance penetration, strengthen consumer education, enforce compulsory insurance policies, deepen technology adoption, and ensure prompt settlement of claims if the industry is to fully realise the benefits of the capital reform. With only days remaining before the regulatory deadline, the coming weeks are expected to determine which insurers emerge independently, which pursue strategic alliances, and how the recapitalisation exercise ultimately reshapes Nigeria's insurance industry for the next decade.

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