By Deji Elumoye
President Muhammadu Buhari has called on insurance firms in the country to improve on their performance and honour the payment of claims to policy holders in good time.
The president gave this advice Thursday at his investiture as the Grand Patron of the Chartered Insurance Institute of Nigeria (CIIN) by the chairman and members of the Governing Council of the Institute at the State House, Abuja.
According to a statement issued by the Media Adviser to the President, Femi Adesina, President Buhari, at the forum, urged the CIIN leadership to further increase the number of Nigerians and businesses that would benefit from and be benefited by the insurance industry.
He said: “As you are well aware, you need to dispel misconceptions about the insurance industry presently held by a good number of Nigerians, especially as it relates to claims and need for insurance.
‘‘As I have said on many occasions and would continue to reiterate, it is my commitment to leave a sustainable growth and development legacy by the end of this administration.
‘‘Furthermore, the insurance industry as a whole must improve its efficiency and honour claims in good time.”
He also hailed the leadership of the institute under Muftau Oyegunle for bringing some sanity into the Nigerian insurance industry, as well as giving more visibility to the importance of the industry in national development and counselled them to do more.
President Buhari thanked players in the insurance industry, including the CIIN, for supporting his government, as well as the kind words in appreciating the progress made in various areas of development.
Specifically, the president highlighted the contribution of N500,000,000 to support the fight against the COVID-19 pandemic in its early days in the country.
He noted that the granting of insurance cover to all frontline health workers at concessionary premiums contributed significantly to the globally acclaimed success of Nigeria’s national response to the pandemic.
President Buhari told the leadership of the institute that he would count on their continuous support, as he rallies ‘‘all Nigerians to join our hands and hearts together with this administration to create the Nigeria we want’’.
He promised to continue providing the necessary support for the industry to ensure that the country maximises its contribution to socio-economic growth.
The president further assured CIIN that as soon as the National Assembly finishes the process of reviewing the Consolidated Insurance Bill 2020 and is forwarded to him, he would speedily subject it to the necessary executive checks and sign it into law.
Earlier in his remarks, CIIN Chairman, Oyegunle, lauded the Buhari administration’s sustained efforts to eliminate poverty in the country through laudable initiatives such as the National Social Investment Programme, the Cash Transfer scheme and National Social Housing Programme, among others.
According to him, “These programmes and many others have impacted Nigerians. Your Excellency, the inclusion of insurance in the policy formulation of these great initiatives will guarantee sustainability.”
