General News
Non Remittance of Premium to Insurers: Brokers Shift Blame to Govt.
As the battle to reposition insurance continues, with the attendant growing positive image, insurance brokers’ have laid the blame of outstanding non remittance of premiums on the doorsteps of the government. While brokers have been repeatedly blamed by insurers for withholding their premiums even after they have collected from clients, the brokers themselves have broken their silence by returning the accusation baton to both the states and federal government. According to the Mr. Bola Tinubu, managing director of SCIB Insurance brokers, government constitutes a major set back to the growth of the insurance industry by virtue of the huge outstanding premium which it owed the industry. He asserted that rather than blaming brokers, the government should take the blame, stressing that both states and federal government are withholding over 80 per cent of the total outstanding industry premium. He blamed the National Insurance Commission (NAICOM), itself a government body, for not making government to see the urgent needs for these outstanding premiums to be paid. According to the brokers, government has owed the industry the highest outstanding premium over a long time and this has had a huge toll on the growth of the industry. Tinubu who spoke on behalf of the brokers at the 2010 brokers’ forum organized by the Industrial and General insurance plc (IGI), explained that contrary to widely held belief that it was the brokers that held the industry down through non- remittance of premium and for most of the unethical practices going on in the industry, stated that government was the real culprit. While exonerating brokers from these areas of accusation, he identified the major issues under focus as rates cutting, overriding commission, non remittance of premium among others, stating that brokers do not indulge in these malpractices as widely believed in industry circles. Clarifying brokers’ position further, the SCIB boss explained that what insurers have termed rates cutting is actually a bargain to bring down the prices due in line with the desire of clients who prefers the cheapest quotes. He opined that this was rather in order, because as wholesale buyers of insurance whom the insuring public sees as technical experts who are out to get the best bargain for them. According to him, while brokers are accused of rate cutting they do not actually cut the rate rather what they do is as whole sale buyers of insurance is to try to bit down the price to get the cheapest price for their clients who approach them to buy the policy for them as insurance technical experts, He countered that if this is what the underwriters call rate cutting, then they are making a mistake. This he hinged on the fact that the interest of their clients has to be protected as in every other business. Most brokers have also blamed NAICOM for not pushing for the compulsory provision of premium in the annual budget of government and their subsidiaries. Experts opinion however hold that some insurance companies unduly blame brokers and other agencies whereas the bulk of the blame should go to some them who are technically deficient.
General News
EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
General News
Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
General News
Airtel Africa Foundation Calls for Applications for “DigiLeap” Tech Training for Young Women

The Airtel Africa Foundation, through Airtel Nigeria, has officially opened the application portal for the DigiLeap Tech Drive, a core initiative in the Foundation’s digital inclusion agenda. The application portal will be open until 8th May 2026.

Targeting 200 underserved young women in the Ikorodu Local Government Area of Lagos State, the programme is designed to bridge the gender divide in the digital economy by providing intensive, industry-standard technical and digital literacy training at no cost to the beneficiaries.
The DigiLeap Tech Drive is a strategic collaboration between the Airtel Africa Foundation, the ISHK Tolaram Foundation, and Co-Creation Hub (CcHub), with implementation carried out by the SAIL Innovation Lab, a leading centre for digital talent development in Nigeria.
Strategically engineered to transform high-potential individuals into workforce-ready professionals, this high-impact project will provide technical instruction, mentorship, and job-placement linkages, directly tackling regional unemployment and the systemic underrepresentation of women in the global technology sector.
Commenting on the project, Dr Segun Ogunsanya, Chairman of the Airtel Africa Foundation, emphasised that the partnership between the Foundation, Ishk Tolaram, and CcHub is central to the Foundation’s holistic mission of advancing both digital and gender inclusion across the continent.
“Our mission at the Airtel Africa Foundation is to accelerate digital inclusion across the continent,” he said. “By bringing the DigiLeap Tech Drive to the women of Ikorodu alongside Ishk Tolaram and CcHub, we are providing 200 young women with a definitive competitive advantage in the modern economy. This initiative ensures the digital revolution is truly inclusive; it isn’t merely a training session, but a professional pipeline designed to transition these women directly into internships and sustainable careers.”
In his remarks on the flag-off, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, highlighted Airtel’s dedication to ensuring that women are integrated into the country’s rapidly evolving digital economy.
“At Airtel Nigeria, we believe that empowering women with digital skills is a fundamental catalyst for national economic growth. With the DigiLeap tech training, we are creating a sustainable pathway for young women in underserved communities to move from the sidelines of the digital economy into the heart of the tech workforce. This initiative reflects our deep-rooted commitment to social impact and our belief that when women lead in technology, entire communities thrive,” he said.
Focusing on industry-standard competencies that enhance both employability and entrepreneurship readiness, application entry into the programme is now live and open to women aged 18–35 living in Ikorodu.
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