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Experts Canvass Islamic Insurance to Deepen Industry Growth

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The search for tools to deepening insurance penetration has continued to attract the intelligent contribution of experts. This is not unexpected considering that almost a decade after insurance was first introduced into Nigeria its growth rate is still far below 5 percent.  Even traditional areas of strength such as motor vehicle insurance are still enveloped in crisis. In the past months, many experts have brain stormed on the way forward.  However one recent contribution which stakeholders have advocated for is Islamic insurance, otherwise known as Takaful insurance. The concept of Takaful insurance is not very popular in Nigeria. This is not strange as even the conventional insurance is still struggling for recognition..  Takaful insurance is a form of insurance which is deemed permissible for muslims under the sharia law.  The major difference between it and the conventional insurance is the restrictions it places on investments and its enlarged flexibility on capital formation. 
In countries with large concentration of muslims such as Nigeria, conventional insurance operates but their services are mainly limited to commercial needs and that of elite members of the society.
According to Dr. Mike Ikupolati, Head of Mission, West African Insurance Institute, while presenting a paper on the issue, he expressed sadness that insurance penetration is still very low even in many I slamic countries.  The reasons for this low penetration have to do with muslims’ belief that “conventional insurance policies contain elements that are contradictory to islamic principles, namely uncertainty (Gharar) gambling (Maisir) and interest (Riba) (Sigma 2001).”
However, insurance is not entirely new to islam as historical records have it that it existed “since the early secured century of the islamic era when muslim Arabs expanding trade into Asia mutually agreed to contribute to a fund to cover mishaps or robberies along the numerous sea voyages”.
He explained that according to works done by  notable scholars like fisher in 1999, Yusof, 1999 and Shakir, also in 1999, insurance in Islam is allowed but it has to be based on the “principles of mutuality and cooperation and encompasses the elements of shared responsibility, joint indemnity, common interest and solidarity.”
The insurance expert reiterated that islamic insurance is also one credible form of alleviating poverty, especially when viewed against the backdrop of muslims’ population put conservatively at 23percent of the total world population. Of this number, he said, over half of the population is Asia and Africa. He stressed that in Africa, for instance, muslims account for about 47percent of the population whereas in Asia, muslim population is put at 27percent, 7percent in Europe and 2 percent in North America.
Corroborating the works of the Islamic scholars, Ikupolati identified poverty as one of the greatest impediments to expected insurance growth level. Interestingly, the work of Sabbir Patel in 2002 revealed that muslims around the world are faced with low-income levels. Mr. Fidel Agbokona, chairman, Akofad Consulting Group agreed that at the present low level of insurance in Nigeria, all measures must be taken to deepen insurance penetration. He asked Nigerians to embrace Islamic insurance irrespective of religious inclination, if it is capable of moving the industry forward. He regretted that while a lot could be gained by some insurance products like this insurance awareness is still unbelievably poor in Nigeria.
Arising from this, Nigerians are said to also lack access to social security systems, health care, education, sanitation and employment opportunities. He expressed dismay that there is “growing inadequate infrastructures in Nigeria as in other islamic countries including the rich Arab nations, due to the increasing population and wave of cheap immigrant labour” This unfortunate  situation, he said, calls for some risk protection mechanism  in order to lower the vulnerability of the muslim population and the society at large.
The history of Takaful insurance could be traced to Sudan where the first Tafaful Insurance Company of Sudan was established in 1979.
Presently, there are over 100 Takaful Insurance companies scattered around the world.  Also, there are a number of conventional insurance companies who have created reasonable grounds for islamic insurance.  In Nigeria, for instance, one of such insurers is UnityKapital Insurance Company which has strengthened its service-delivery in Islamic insurance alongside its conventional insurance business. There are indications that some insurance companies are bracing up to extend their services to include Islamic insurance.
Since Takaful may be useful in cushioning the effect of the middle and working class and assisting in the event of a large loss, micro-takaful’ is therefore desirable to bring service-delivery to the grassroots.
“Takaful insurance can assist in achieving greater equality and empowerment of the poor by protecting them against unforeseen losses and giving them the courage to improve their productivity and livelihood through access to education, healthy care and employment.” Ikupolati said.

 


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Court Jails ‘Colonel’, ‘Major’ of Global Money-Laundering Ring

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A “colonel and a major” in a “worldwide highly sophisticated money-laundering syndicate on a breathtaking scale” have been jailed for nine years and 7 and half years respectively.

Court Jails ‘Colonel’, ‘Major’ of Global Money-Laundering Ring

Ejike Francis Ogbuefi (42) of Clonard Road, Crumlin, Dublin 12, and Steven Silvester (32) of the Paddocks, Morristown, Newbridge, Co Kildare, were both convicted of directing the activities of a criminal organisation following a trial at Dublin Circuit Criminal Court in February.

Ogbuefi was also convicted of 32 counts of money laundering and seven of conspiracy to launder money.

The jury also convicted Silvester of five counts of money laundering, two of attempted money laundering, four of conspiracy to launder money and one of using a false instrument.

Both defendants had no previous convictions here or in another jurisdiction.

The court heard that both men were assessed to be above mule herders and money mules in the operation, with Ogbuefi having a more active role.

During the sentence hearing, Judge Martin Nolan suggested to the investigating garda that the men were a “colonel and a major”, which Det Garda Steven Kelly agreed with.

Imposing sentence on Friday, the judge said both men were involved in the offending and played certain roles.

He noted that the scheme’s ambition was to “get accounts to launder illicit monies” which were “undoubtedly the product of criminal behaviour” and that third parties unknown to the court suffered as a result.

“Both men were reasonably experienced in how the banking system works” and aware of its weaknesses which they tested, sometimes successfully, the judge said.

The judge said he had considered the mitigation and there was a “good chance” the men would not reoffend in future, but that the court could not be certain.

The judge noted that money laundering is a “serious problem” and the court often dealt with cases of people who provided their bank details to be used in these schemes.

“These bank accounts are absolutely necessary for all fraud, because monies have to come to earth somewhere,“ the judge said, noting that the defendants’ main role was to procure bank accounts so that money could be sent to others who profited.

He imposed on Ogbuefi a sentence of nine years and imposed a 7½ year sentence on Silvester, whom he considered to be at a lower level.

Kelly told Seoirse Ó Dúnlaing, prosecuting, that the Garda investigation looked at various bank accounts, transactions and online communications.

Evidence suggested both men were receiving requests, often from phone numbers in Nigeria, to launder money from different types of frauds.

Kelly agreed with Conor Devally, defending Ogbuefi, that his client is from Nigeria and his family is law-abiding.

Garda Kelly agreed with Maurice Coffey, defending Silvester, that his client became involved in this criminality some time after his arrival in Ireland in 2015 and had no record of shopping in high-end stores or trappings of wealth.

It was also accepted that Ogbuefi appeared to have a more active role than Silvester.

Defence counsel told the court their clients accepted the verdicts of the jury and were remorseful.

Testimonials were handed to the court on behalf of both men.

Mr Devally asked the court to view Ogbuefi as being “appointed to a position of local authority in a wider organisation”.

Mr Coffey said Silvester was under pressure and desperate at the time.

He asked the court to consider that his client did not come to Ireland to get involved in this offending, but fell into temptation at a time of vulnerability.


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Activist Warns against Rising Junk Food Culture in Nigeria

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Nnimmo Bassey, environmental activist and food sovereignty advocate has raised concerns over the growing influence of junk food culture and global food politics on Nigeria’s food systems.

Activist Warns against Rising Junk Food Culture in Nigeria

Nnimmo Bassey, environmental activist

Bassey warned that the increasing consumption of highly processed foods poses serious risks to public health, cultural identity, and national food security.

He made these remarks on Thursday while speaking at the Sustain-Ability Academy lecture on Food, Power and the  Politics of Hunger, organised by the Health of Mother Earth Foundation in collaboration with the University of Port Harcourt.

“Food is not just for sustenance; it is central to our identity, our relationships, and our traditions,” he said.

He explained that traditional diets reflect the diversity of Nigeria’s ethnic groups and have historically fostered unity within communities.

Bassey traced the evolution of food systems in Nigeria, highlighting how colonialism, commerce, and conflict have reshaped local diets.

He referenced the Nigerian Civil War as a turning point when food was weaponized, leading to widespread malnutrition and long-term dietary changes, particularly in the Eastern region.

The activist criticized the rapid rise of fast food consumption, describing it as a product of modern society’s demand for instant gratification.

According to him, fast food outlets use sensory stimulation, bright lighting, loud music, and constant visual entertainment to distract consumers from questioning the nutritional value of what they eat.

“People leave with more than just a full stomach, they carry heavy metals, artificial colourings, and harmful substances in their bodies,” he said.

Bassey also expressed alarm over the increasing presence of genetically modified organisms (GMOs) in Nigeria’s food system.

He argued that such products, often introduced without sufficient scrutiny, could have long-term health and environmental consequences.

He further cautioned against the role of political leaders in normalizing unhealthy consumption patterns.

“When top politicians publicly consume junk food and sugary drinks, they send a dangerous message that such habits are acceptable or even desirable,” he said.

At the heart of his argument is what he described as “food colonialism” a system driven by global power dynamics, where economic pressures, debt, and cultural influence shape local food choices to benefit multinational corporations at the expense of local farmers.

Bassey called for a “decolonization” of food systems across Africa, urging governments and citizens to prioritize indigenous foods, protect seed-sharing traditions, and resist policies that undermine local agricultural practices.

He also challenged prevailing narratives around hunger, questioning whether food insecurity is truly a result of low productivity.

“In countries like Nigeria, nearly half of all food produced goes to waste. The issue is not just production, but distribution, policy, and power,” he explained.

The session concluded with a call for urgent reforms to ensure fairness, resilience, and sustainability in food systems, with a focus on supporting smallholder farmers and addressing the structural causes of hunger.


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Gartner Forecasts Surge in AI-powered Public Services

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At least 80% of governments will deploy artificial intelligence (AI) agents to automate routine decision-making, enhancing efficiency and service delivery by 2028.

This is according to market research firm Gartner, which highlights a growing shift toward digital governance, where AI-powered systems will increasingly handle repetitive administrative tasks, such as processing applications, managing public records and responding to citizen queries.

“Government chief information officers are under growing pressure to embed AI into decision-making capabilities rapidly and responsibly,” says Daniel Nieto, senior director analyst at Gartner. “The rise of multimodal AI, alongside conversational and agentic systems, has expanded what public organisations can automate, understand and anticipate.”

The Gartner report comes as South Africa is moving to embed AI into public administration, with early use cases emerging across service delivery, disaster response and internal operations, even as full-scale deployment of autonomous “AI agents” remains some years away.

The country’s National AI Policy Framework, released in 2024, has set the direction for adoption, with a comprehensive national policy expected by 2027.

Implementation is likely to follow from 2027 onwards, positioning the country for a more structured and regulated rollout of advanced AI systems across departments.

While South Africa has yet to deploy AI agents at scale, government and research initiatives indicate that agent-like systems are already taking shape.

Global use cases

Globally, governments are rapidly deploying AI agents to automate public services and internal operations, shifting from simple chatbots to systems that can execute tasks and coordinate workflows.

In the US, federal and city agencies are using AI agents to handle citizen queries, draft documents and manage call centres, while in China, autonomous systems are being integrated into administrative processes and urban management.

European governments are piloting AI-driven tools in policing and public service delivery, and in emerging markets, agentic platforms are being used to improve disaster response, financial inclusion and digital identity systems.

However, Gartner notes that fragmentation is one of the most persistent barriers to AI value in government.

According to a Gartner survey of 138 respondents from government organisations worldwide between July and September 2025, 41% of respondents cited siloed strategies and 31% cited legacy systems as key challenges to adopting and implementing digital solutions.

“Technology modernisation alone has not resolved these issues,” says Nieto.

The market analyst firm says as AI transitions from experimentation to being deeply embedded in decision-making, governance approaches must also evolve. It points out that traditionally, AI governance has centred on managing models, data and algorithms.

However, it states that decision intelligence (DI) shifts this focus towards the governance of decisions themselves; for example, on how they are designed, executed, monitored and audited. This shift in governance is especially critical in government, where public legitimacy relies on transparency and fairness, the firm explains.

Measurable impact

The Gartner survey found that 39% of respondents cited improved service and citizen satisfaction as primary reasons to invest in building citizen trust.

The firm notes that DI offers a structural foundation for operationalising this trust by making decision pathways explicit and auditable.

“By governing decisions, rather than just isolated AI components, governments can better balance automation with human judgement, particularly in high-stakes or rights-impacting contexts,” says Nieto. “Regulated industries and governments cannot rely on opaque ‘black box’ systems for consequential decisions. DI elevates explainability from a technical requirement to a governance imperative.”

Because of the need for transparency in decision-making, Gartner predicts that by 2029, 70% of government agencies will require explainable AI (XAI) and human-in-the-loop (HITL) mechanisms for all automated decisions that impact citizen service delivery.

Gartner explains that XAI and HITL designs are foundational to public-sector DI. These mechanisms ensure decision logic can be inspected, explained and challenged. Because of XAI and HITL, humans also retain authority over exceptions, appeals and high-risk cases, and accountability is preserved even as automation increases, it adds.

While efficiency remains important, Gartner says citizen trust in government’s ability to provide effective services is becoming a key driver of digital transformation. Fifty percent of government respondents cited improved citizen experience as one of their top three priorities.

“As AI and decision intelligence increasingly automate and streamline service delivery, the traditional notion of ‘citizen experience’ evolves,” says Nieto.

“When citizens receive what they need from the government automatically, direct interactions may decrease, making trust in the system’s reliability, fairness and transparency even more critical. Because trust is so imperative in these situations, the predictive capacity to anticipate potential needs could reshape how government digital services are delivered.”

 


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