Fola Daniel Named Into AIO African Insurance ‘Hall of Fame’ [2018]

Fola Daniel, was at the 45th African Insurance Organisation (AIO) held in Accra Ghana decorated into the African Insurance “Hall of Fame”. The Award, an initiative of the African Insurance Organisation, and in its third edition now recognises individuals and companies for their outstanding contributions towards the growth of the African insurance industry.

Fola Daniel, having won the 2018 edition of the award will be automatically nominated for the Insurance Hall of Fame, which is organised by the International Insurance Society (IIS).

Nominees for the award must have made a broad encompassing and lasting contribution to the insurance industry in its broad sense (insurance, broking, reinsurance and regulatory) and thereby exerting a substantial influence on the ability of the insurance industry to serve society.

Fola Daniel, a veteran underwriter and an administrator of high repute studied in Nigeria and the United Kingdom. He is a Fellow of the Chartered Insurance Institute, London, the Chartered Insurance Institute of Nigeria (FIIN) and, the British Institute of Management.

Prior to his appointment as Commissioner for Insurance in 2007, Fola Daniel was the Managing Director of Globe Reinsurance Plc. With experience spanning over 30 years, he has worked in various capacities at Senior Management level. He was a Branch Manager and later Northern Area Manager of Great Nigeria Insurance Co. Ltd in 1986.

In 1989, he joined Globe Reinsurance Plc as Underwriting Manager. He rose to the position of Assistant General Manager (Technical) from where he was appointed by the Federal Government as Executive Director (Operations) of Nigerian Agricultural Insurance Corporation (NAIC). He was later appointed the Managing Director/CEO of the Corporation in 1994. During his tenure, the Corporation witnessed a phenomenal change in fortune from a hitherto loss position to a profit making organization. He returned to Globe Reinsurance Plc as Managing Director/CEO in 2004 after he successfully completed two-term tenure of 10 years at NAIC.

He was a visiting lecturer and a Member of the Governing Board of the West African Insurance Institute, Banjul, The Gambia (WAII) as well as the Chartered Insurance Institute of Nigeria (CIIN).

He was also a member of the Boards of Directors of Africa Reinsurance Corporation, Nigeria Agricultural Insurance Corporation (NAIC), Nigerian Content Development & Monitoring Board (NCDMB) and the Economic & Financial Crimes Commission (EFCC), etc.

He became the Commissioner for Insurance (CFI) in 2007 at a time the industry faced upheaval caused by a flawed consolidation exercise. As the industry struggled then to cope with the crisis, it needed a purposeful regulatory body with visionary leadership, which Daniel gave, to the satisfaction of many industry players.

As Commissioner for Insurance he was able to reposition the Nigerian insurance industry for eight years.

The commission under his leadership provided the needed regulatory platform upon which the quality of service to policyholders has improved significantly. The agency kicked-started the process of sanitising and transforming the industry to meet international best practices in 2007 by first resolving all the problems associated with the recapitalisation/consolidation exercise.

One of the major steps the commission took to ensure the emergence of a very vibrant and strong insurance industry that is capable of competing with its peers globally was the formulation of an initiative code-named Market Development and Restructuring Initiative (MDRI).

Amongst the cardinal objectives of the MDRI was the deepening of insurance penetration in Nigeria and the commencement of the enforcement of compulsory insurances which have been made compulsory by law as enshrined in sections 64 and 65 of the Insurance Act 2003.

This programme was launched successfully in the six geo political zones of the country including Lagos and Abuja and full implementation in September 2011.

Winners Of 2018 Lagos Chamber Of Commerce & Industry (LCCI) Awards

Winners have emerged in the 2018 Lagos Chamber of Commerce & Industry (LCCI) Awards held at Oriental Hotel, Lekki Express Way, Victoria Island, Lagos.

The objective of the Annual Commerce and Industry Award is to recognize, promote and celebrate private and public institutions operating in Nigeria for best business sustainability and positive impact on the people/society.

Metrics for Selecting Awardees

  • Positive Impact on the Society: Affecting society broadly, challenging the status quo, redefining life style, creating wealth and vitality and giving people increased confidence.
  • Best Practices: Compliance with set standards, regulations, level of disclosure, corporate governance.
  • Growth Through Innovation: Enhanced product and services through innovation for increased value and facilitate limitless possibilities.
  • Service Excellence and Customers/Clients Delight.
  • Business Sustainability and creation of positive legacies

Winners of the 2018 Lagos Chamber of Commerce & Industry (LCCI) Awards

  1. Best Business Television – CNBC Africa
  2. CSR in Education – Nigerian Stock Exchange (NSE)
  3. Best Company in Local Content on ICT – Rack Centre
  4. Best Business Newspaper – BusinessDay

The Chamber of Commerce and Industry (LCCI) is the first (since 1888) and the largest Chamber of Commerce in Nigeria with membership strength of over 2,000 institutions spread across all sectors/sub-sectors of the economy. As part of its core mandate of trade promotion and business/policy advocacy, the Chamber organizes deserving corporate organizations, public institutions and individuals who have contributed significantly to the development of commerce & industry on an annual basis.

Air Peace Wins NIPR “National Carrier of Repute” & “Nigerian Crew Member of Repute” Awards [2018]

Air Peace and six of its crew members have been honoured with the Nigerian Institute of Public Relations (NIPR) “National Carrier of Repute” and “Nigerian Crew Member of Repute” awards respectively for delivering flight services with exceptional efficiency.

President of NIPR, Dr. Rotimi Oladele presented the awards to the airline and its crew members during the annual conference of the Institute in Umuahia, Abia State. 
Air Peace, he enthused, had brought honour to Nigeria in the aviation industry and proved that the nation had the capacity to fix its challenges.

Oladele affirmed that the carrier’s on-time performance, customer service, safety and fleet maintenance reputations were unparalleled.
 The NIPR boss commended Air Peace’s crew chosen for the “Nigerian Crew Member of Repute” award – Capt. Adesola Arasi, First Officer Violet Enahoro, Ademola Olowolade, Ann Otiede, Yemisi Beckley and Paul Ijeh – for distinguishing themselves in their engagements with members of the flying public.

He justified the choice of Air Peace and its crew for the awards, saying they were practically assessed by NIPR teams without their knowledge.

He said a total of 20 airlines were covertly assessed by the Institute’s teams on board 29 flights and at the carriers’ offices. Air Peace and its crew, he said, emerged winners after securing a total of 67 percent of the votes.

Responding on behalf of Air Peace, its Corporate Communications Manager, Mr. Chris Iwarah assured that the carrier was driven by a passion to project the name of Nigeria globally through exceptional flight services.

From seven aircraft and five routes at launch in 2014, he said Air Peace had increased its fleet to 24 aircraft and taken its flight operations to 12 domestic and four regional destinations.
 Iwarah said the airline was set to broaden its regional route network with the addition of Monrovia (Liberia), Lome (Togo) and Abidjan (Cote d’Ivoire) in the next few weeks.
 He assured that the airline, which recently set a record as the first Nigerian carrier to acquire a Boeing 777 aircraft for its long-haul operations, would soon prove the mettle of the country on the global aviation scenes with the launch of its Houston, London, Guangzhou-China, Dubai, Sharjah, Mumbai and Johannesburg services.

Mr. Chris Iwarah commended NIPR for rewarding merit, assuring that the awards would spur Air Peace and its crew to further raise the bar of service in the nation’s aviation industry.

Winners Of The Asian Banker – West Africa Awards 2018

Winners have emerged in the Asian Banker – West Africa Awards 2018.

Ecobank Transnational Incorporated (ETI) and its two affiliate countries – Nigeria and Ghana – have emerged winners in three strategic categories of The Asian Banker – West Africa Awards 2018.

The annual awards saw ETI winning the Best Financial Inclusion Initiative Application or Programme with its innovative Xpress Account, while Ecobank Nigeria carted home the Best Transaction Bank in Nigeria, West Africa award. Ecobank Ghana also won in the Best Transaction Bank in Ghana, West Africa category.

ALAT by Wema Bank, won the Best Digital Bank in Africa; the Best Wealth Management Bank in Nigeria went to Standard Chartered Bank while the Best Mobile Payment Service and The Digital Wallet of the Year went to Guaranty Trust Bank, among others.

According to the Chairman, The Asian Banker, Emmanuel Daniel at the Asian Banker – West Africa Awards 2018 ceremony in Lagos:

“These awards are the most rigorous, prestigious and transparent awards programme for financial technology, retail banking and transaction banking in West Africa today. We recognize the deepening and increasing maturity and sophistication of the industry in this region.

Ecobank’s aggressive digital push produced a first innovative mobile payments solution, the Masterpass QR with MasterCard to push financial inclusion in Nigeria through its new, smart, card-less, contactless and cashless payment solution. This bank also launched an integrated electronic banking platform that has on-boarded four million customers within a short space of time”.

In his comment, Charles Kie, Managing Director, Ecobank Nigeria thanked the Asian Banker Award Team for painstakingly creating an opportunity to celebrate hard work by members of the banking community.

Represented by Korede Demola-Adeniyi, Group Head, Personal Banking, the Ecobank Managing Director stated:

“We are using digital technology to combat many of the financial inclusion barriers faced by those on the continent.

I use this opportunity to dedicate this awards to all hard working staff of the Ecobank Group, who have tirelessly worked to see the success of the bank. And also to all Africans who believe in us and have continued to encourage our efforts by adopting our products”.

Keystone Bank Wins 2018 Global Impact Leadership Award In Women Entrepreneurs Empowerment Category

Keystone Bank Limited at the 2018 Global Impact Leadership Award has been awarded the Best Bank In Women Entrepreneurs Empowerment Category held In New York, USA.


Keystone bank
The award, the organisers noted is in recognition of Keystone Bank’s leadership role as in expanding access to funds for women entrepreneurs in Nigeria and the rest of Africa where it operates.This feat they further said has brought about unprecedented growth to the business sector and by extension, the nation’s economy and that of Africa.

Keystone Bank operates with best practices and offers leading solutions and services to its clients and associates.