Stakeholders in the insurance industry said granting operational licence to the Nigeria Police Force will compromise enforcement of the six compulsory insurance products in the market.Stakeholders in the insurance industry said granting operational licence to the Nigeria Police Force will compromise enforcement of the six compulsory insurance products in the market.
According to him, the primary mandate of the Police is to maintain law and order, not to engage in business ventures. “Another requirement is a spread in ownership to avoid undue influence on the company by one shareholder. The NPF Investments have a history of mismanagement, as evidenced by the numerous issues surrounding the Nigeria Police Pension Scheme. This history raises significant doubts about the ability of the Police to effectively manage an insurance company, which requires a high level of expertise and know-how,” he added.
NAICOM, through an advertorial in some national dailies newspapers, disclosed that it had received an application from the NPF Insurance Company Limited for registration to transact insurance business in Nigeria. It requested the public to submit/report any objection or otherwise against the registration to it within 21 days from the date of the publication.
PTML Nigeria, West Africa's largest roll-on roll-off multipurpose port terminal, emerged as a key transshipment hub for Europe and Africa-bound, handling 5,489 brand new vehicles arriving from China.