General News
Brokers Decry Moves by NSITF to Grab Workmen’s Compensation Act
While the dust raised by proposed laws and regulation of insurance practice as it concerns the brokers is yet to settle, there are indications that individual brokers and the National Council of Registered Insurance Brokers (NCRIB) are not at ease with the current moves by the National Assembly to repeal the Workmen’s Compensation Act. Reacting to the recent Bill by the Nigerian Social Insurance Trust Fund (NSITF) to the National Assembly to repeal the Workmen’s Compensation Act and transfer same to it, Mr. Adewale Shittu, managing director of Destiny Brokers expressed dismay at the moves, which has gone through second reading in the House of Representative.
He warned that the “sensitive position which brokers hold in the growing insurance market in Nigeria must not be truncated by any individual or group.” Rather than fanning the embers of disunity the brokerage chief wants the operators and the relevant authorities to give brokers a more comfortable platform to serve the underwriting arm better.” In recent times, there have been conflicts between the brokers and the regulating authority, National Insurance Commission (NAICOM) over new laws and regulations set to be adopted soon.
Also reacting, Oluwole Adedayo, veteran insurance broker expressed dismay at the level at which insurance brokers have been treated without appreciating the fact that brokers have been the pillar of the success record of the industry today. He lamented that a profession which contributes over 70 percent to underwriter’s volume of business could be recklessly debased by critical stakeholders in the business. As expected, the NCRIB have also raised similar objections to the proposal to repeal the workmen’s compensation act. It would be recalled that Dr Teslim Sanusi, President, Nigerian Council of Registered Insurance Brokers (NCRIB), recently called on the National Assembly not to repeal the Workmen’s Compensation Act, warning that such move would impact negatively on the fragile industry. Sanusi told the News Agency of Nigeria (NAN) in Lagos.
The NCRIB boss called on stakeholders to kick against the move because the industry was still recuperating from the effect of the Pension Reform Act, which earlier took pensions business out of its jurisdiction, warning that if the present move by the National Assembly is allowed to succeed, it would have an adverse effect on the premium income of the sector.Sanusi charged brokers to rise up to oppose the move so as not to allow another injury to be inflicted on brokers and the industry at large. He stressed that going by the likely effects of the proposal it could lead to a collapse of the insurance industry,Sanusi had used the forum “to draw attention to the new move by NSITF to repeal the compulsory insurance with all its benefits.” He informed brokers that the NSITF-sponsored bill seeks to transfer group life policies of public officers to the fund. “Considering the negative implications of such action for the industry, we have taken steps to ensure that such a move is stopped in the interest of the public and the industry," he said.
General News
World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.
Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.
Others said the country should reduce dependence on foreign loans and focus on improving local revenue.
The federal government has continued to defend its borrowing plans.
Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.
Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.
General News
Lagos Plans New Cybersecurity Centre

The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.
According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.
The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.
Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.
Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.
The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.
The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.
The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.
General News
LG Electronics Strengthens Household Energy Efficiency in Nigeria with Advanced Inverter Refrigerator Solutions

LG Electronics (LG) is reinforcing its commitment to smarter and more energy‑efficient living by spotlighting its range of inverter‑powered refrigerators designed to meet the evolving needs of Nigerian households.

As electricity costs continue to rise and inflationary pressures shape consumer spending, LG’s refrigerator portfolio is positioned as a practical solution that combines dependable performance with responsible energy consumption.
Refrigerators are among the most frequently used appliances in Nigerian homes, operating 24 hours a day and accounting for a significant share of household electricity usage. LG addresses this challenge through its proprietary Inverter Compressor technology, which intelligently adjusts cooling power based on actual usage conditions.
By reducing unnecessary energy draw, the system delivers stable temperature control while helping households lower energy consumption and manage monthly utility costs more effectively.
Beyond energy savings, LG refrigerators are designed to support food security and reduce waste, an increasingly important consideration for families navigating rising food prices. The inverter system enables faster cooling recovery after power interruptions and helps maintain consistent internal temperatures, preserving food freshness for longer periods. With fewer friction points in the compressor design, LG refrigerators also offer enhanced durability and long‑term reliability, minimizing maintenance costs over time.
LG’s energy‑saving refrigerator lineup includes Top Mount, Side‑by‑Side, and Door‑in‑Door models, each tailored to different household sizes, storage needs, and lifestyle preferences. The Top Mount refrigerators offer practical, space‑efficient designs ideal for everyday family use, delivering reliable cooling with optimized energy efficiency.
The LG GN-F452PFAQ model keeps food perfectly fresh with FRESH Converter+ that optimizes temperature as per food items and never runs out of ice with the Auto Ice Maker.
For households that require larger storage capacity and improved organization, Side‑by‑Side models provide generous interior space, improved visibility, and consistent cooling across compartments.
For more design‑conscious consumers, LG’s Door‑in‑Door refrigerators reduce cold air loss by allowing quick access to frequently used items, supporting both energy efficiency and long‑lasting freshness.
At the premium end, LG continues to innovate with advanced models such as the MoodUP™ refrigerator, which combines customizable aesthetics with functional energy‑saving features like the InstaView panel, allowing users to view contents without opening the door and reducing unnecessary cold air loss. This refrigerator comes with a washing machine as a bundle promotion.
According to LG, this range‑based approach reflects a deep understanding of how Nigerian households differ in size, consumption habits, and lifestyle needs.
“Nigerian consumers are becoming more intentional about how they use energy and manage household costs,” said Mr. Oktai Kim, General Manager, Home Appliance Solutions, LG Electronics Nigeria. “By offering a diverse range of inverter‑powered refrigerators, we are giving families the flexibility to choose solutions that suit their homes while delivering long‑term value through energy efficiency and dependable performance.”
Rather than focusing on technology alone, LG’s energy‑saving refrigerator portfolio emphasizes everyday benefits, efficient operation, reliable cooling, and designs that adapt to real living conditions. Available nationwide, LG refrigerators continue to support smarter living and economic resilience, reinforcing the company’s commitment to delivering durable, consumer‑focused home solutions for Nigerian households.
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