The Federal Government and the National Insurance Commission (NAICOM) have opened discussions to establish new guidelines for the insurance of government assets.
The new strategy is being nurtured by the Secretary to Government of the Federation, Senator George Akume, who has already opened talks with the Commissioner for Insurance (CFI), Olorundare Sunday Thomas.
There are indicators that the new government direction for insurance will materialise by October at the National Insurance confab.
Thomas disclosed this at an interaction with financial journalists held at Ibom Icon Hotels and Golf Resort, Uyo, Akwa Ibom State.
He acknowledged that the present disposition of the Federal Government to insurance coming early in the administration’s few months in government, is a step away from what it used to be and a step in the right direction.
He said the Federal Government is committed to its new stand on insurance and is already working with the commission on the strategic guideline that will serve as a blueprint for government fresh appetite for insurance purchase that would be followed strictly by all ministries, departments and agencies (MDAs).
Thomas said, “Since the new government came into office, I have had cause to see the Secretary to the Government of the Federation (SGF) and we are working on the guideline for the insurance of government assets. They are taking it seriously. Besides, President Bola Tinubu established an insurance culture in Lagos when he was governor and up till today, except one governor that didn’t pay premium, all the other governors till date have paid premiums and followed the template that he put down for insurance. He is replicating that at the federal level.”
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