Wedn esday, May 16, 2012
8
THlSD AY, Vol l 7, No. 6232, Page 29
BusinessWORLD
Insurance
STI Supports IITA Reforestation Programme
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Trust II15Uf1I/Xle has taken II upon Itselr 10 wppan uus
PIc lCTl) has swc:d 115 rcadiDc.u 10 partnO" with
.........
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of Tropal Agriculnue (lITA) 10 arpport the 1anc:r's ongoma effOft to elll;ure that Ihc Nigenan cnvtnlfIllEfIt n:rUiltlllo gra:n and pecpie-fricndly. Head of Ctwponte Commuruc:alioru; and Brud Maoagerrocu In the oompany, Mr. Segu.a BankoIe. said oom· muniIy IbdopmcoI ....-as one oflhc ~ wIII= his org;uusatioo's mrpcnae SII:I'V1CII: R:SpOn' ubility K'l.IvUs ~ dtm:Ied. Bankok: IqJt:ac:d thai thr: nIIt: aI 'II'bidl were di5appearing laOSS the COUIllr)'
rorests
",bok cause as JU UI place by
poIilllVC mcasu.rcs
urgently Iakm
noc
&Je
ID rcsun the forests, theCXlUdr)' woold fa- g:n:atly ID due owrse.. Aoc:ording ID him.1hc c0mpany ul'llic:r5w-.Ji dearly the oocd 10 have. safe and habit· abk: CIlviruuncot and as I !!:SUit. has dc:adtd to RJppIX1
$Ur·
the refon:staOOll project initial· ed by the 1fI!ltitlnt.
He ~ redcnl govcmrnmt', efforu .u. revampiog the JgIEUltwal iCCtor IlDd eomwagcd every Nigcnaa to be pan alb: laid·
"""African Alliance
was alarming. warning that ir
1ltis
IS
why Sovucign
lITh," he aid.
h~IIlsoDlClllllIO~
!be ooed 10 pro-!be rernauung secondary
.-ent5II 00
lOCI
rOl'eib aI b:aI. qoW and
10 CfI.P)' wide support. it
-""""The Prmcipal CcmuIuwI:
oommunity and sccute the al5lena: and StIlYivaI of fum!!: gencnWoI15, BankoIc: noted. ' -Ie alllO n:aff1fl11Cd the OfPD--I5aUoo's readinc:ss to ~ wi!h any organisalJOrI or individuals UI the ~ of COIIImlIDity-fnmdIy uuWlIYC$. Mc:anwbile, ~ fOCUl of Ihc rd"0IaibtXXJ pnlJtICI II 10 pumoce CXlDSCI"'alioo 0( Ihc I10000dary rain forcsu acro55 !be c:ounIl)' and rrolib'" Ihc bio-di¥Cf'Sity of the oaoon's
pr'(lJeCt sets out 10 te:Sf(JR; the 5eCOIIIbry ramf'omR and to pIaol 00 ~Iy JOG hc:ctareI of dc:gnIdcd land uSing Indigenous tm!S". Aa::ofding 10 ber.!be tropi. cal ntinf~ arppon the ~ dlvenal)' of IIvmg c.pusms 00 Qrtb. v.wning !hal: rwl fceR dd'c:esucioo las • ~ iqIIa 00 boIh Ikn and I1u.ma.. She reca.lled thai: in 1m,
When !his pugnmme SlarU
would pMaIltcc Nigerians a iIlfe
-.
ror dlt Projea.. Mo. Dm.i 81'1l'11o"1\.saJd"the~
Nigena loa oYeI" 56 p:r c:ov: of
I" mru<nSlS and
dd~
uonWl1il.tllll£dIll.m~olJ5
F oenl F annum. Cwn:nLIy, only 9.6 0011100 hi:ctlRs I'CITIIIm unaffected by !ldor· CSIiIlJOn; whicII urvanabIy is less !han 10 per COlI. of tbe IOUaIIaIld area in Nigena. Gomg
by
this
fig~,
Nigcna has the highcsz defor· eslIdon \'Ilk: 00 the planet 1II.d this 15 a;:.wdcmd highly dan· gcroaa:, KXXJRling 10 cxpcru. Rdb:ung on the Corporak: Social Responsibility (CSR) prognunmcs of 1m COII1JIllY. BankoIc 5aJd the S11 brand J5. proc.r'C'S5IYC one !hat 15 commined 10 promoting devdopmenl
ID every 1m2
of the
Nigerian cammy.
G R I
-W.. M:. Ya)' reUabIe pan. re-' 1Il progress 10 CYr:SY t:m.oes5 , '31mly and a'lUUIW.IIl.Il)'
thr: CIJUQU)'_llv: wdIbe· 109 or our pcopC and the __ UW1.1blhty 01 wcahb is lOp plonly lor 1-15 and the managt'mel\! tJ: p.:II5IODIIIdy COImlII' ted to JIVIng bid: to the s0ciety and sporu haw: been KImuflCld ,.. OIl!: of the ptYDllll demenli lOr natJOOaI integration and d-~ hetJce. our support III this n:ganj;' he SIal·
8CfOiIIi
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8d n _ , Ihc c:ompuIY tdopIed ald nainlatned a p . den In SuniIcR: V\ 10 5UpIIW1 the ""(".-, Gn:ea Ca.mplignM I~ by Ihc Lagos SaaIe
""""_.
ULTURE
Records 124.6% Premium Income in 5 Years
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life U&Ir.UlCC. axnparuc:5 In the CXlUIlU)', said M perniwn nx:mt has gone up cu.mul.uJvdy 10 the nmc of 124liO per celli In the Jag rIVe .
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1be pafomiince or-the company as a whok: has improw:d buI: the oo1y area thai we have noc done well d UM:SUnent bec:Iuse the imesameN clmwe has noc been
""
""""'" of
"",""y. According 10 lu m, the com· pany's JR'luum inoomc has
been 00 the incn::asI: COI1lInUousIy In the last fiw: yean !hal Ihc ~ managanenI has
.... m-.
1lw: company
~
IU
_ from a modest NS4 million in '2007 to N 13 btilKin Ia5a ye¥, he satd. '1bcn: are ~. E¥CII though ~ did not InCId our lIVgtI ror bsI year tI~ II IIl1J1fU'1C1T1Cfl. If thc:R: 15 no unpuvement then we have I1llI done anything. Since I came to the oompaoy !hen: halle bcut
CVtt'J year In
unpovemcols
or an:IiviWaI life busin::u .....tudt we rqard as our
IC:ImI
_"""""'.
-Wbco I IDok. up lhc JOb m 2IXl6, mdividual life bu5incs5 in '1/.'1.Y1 dunug renpitl"sa"m. our prttruW11
oed to weigh nqIIL1vtly on Ihc over.lll pafommnce of the
m con· vcntiI:mJ tife insur:».:e Wsi· IlIDJ(I}e
ness w.s N54 million but as ~ laSl year. we n::<:oaic:dlIIlIOO millX.wt, this W-dS for individual life WwJcu::s only aside rrom the tabful aJd other types of bwncsscs. we made NI3 biI· lion;' be sad. Okpor however. R:pd1Cd that ID sp!IIIC of the fact that the CXlrtIf*IY has recorded sawufi· CUll illlpo.cmeuis in iu; aIR: opcrlIlJOu of UIIdtrwritin& of life mb tc:SJJIting 10 sur::abIc underwriting profitS eva)' other yar, the conipillly has not fand 'lldl in the !Ilea of
,,,,,,,,,,,,,,-
AcconImg 10 htm.lht \osses Mlffc:n:d by the company roJ.. Iow"mg the. crash or the c:aptal markI:I and the fC51.dtanl Us m the valuc cI ip)IICd saocu m the fkIOI" of the Nigenan SkICt ~ (NSE), bas contUl-
company ooc Ihould be Ya)' hquid and one needs money, he CM sell off !Oflle shares and ",y.
"AImoSI aU the
we bu.'l gone down .w:adily and if you look at our babnce sheet. even though we ~ makmj: profil 10 IemI5 of our att bu§iness, we &Je making Ios5a m temJS of the rompany. -AI the end ollhc day uthe shan: pnce of N2 hils gone down 10 so kobo. the differ· ence If illS 10 milhons would resull 10 a lot of moocy and tnln!;fcm:d to the profit and loss acc:ount.. That is when: II 15 affecting us scnow;ly; the company's boss n:g:retted. l ie cquaDy I1DICd thai; inIo· cst ra.cs have not been fatrly 5bbIe 10 make life insurcn; cunsidcr depoSIting theu IlICIJ(III5 III t.nks as a vtabk aJ~, $lying ~CVCfI in the money mIII\c:l Itselr, in~ rnu: is gomg up and down and not reliable." "hllCfTllli of our opcr.ttions. we an: oOy buI: whcn we wit of IIlvestmcut. _ m not
im'CSttd
Ul
IllOIlC)'
~
ob.y.Mhe~
Professionals Pick Holes in 2012 Federal Budget
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Pmr--w Soda of Nigr::su (APBN) hal fau/lClI dlC2012blrn1lu1get. say. IIIi it fall$ stut of eJlpedllllODJ anti 111.1 CllpabIc of~ thc dtallc:np kut,g the cuntrMmtb:n d the bOOy, mrunIy pmfc:ssoab. IIlEd N the tt:VCftIC prljcaxIm -.ac ~ lu......ned N _auld mly be rcaIi!lcd if Ih=; IS ao OISII 11'1 the N"1Ff Della rqioa. They ~!haI d~,* ol~lIIthcl'l'Wl1"lCnt ~&om14peromlDn ~
om ..,.
rd
co:nr.~glllg
II
oil
ThI: fusIdm: oftbc bOOy. Mr. Segun Ajaalldoko made d~ pilIIIIDrI of liz pn:ftwmaIs known !Uvtc thcbaurd ~ lhllwas IxsaI by the Chnaa:llnsuruna:
11lSllb* ul Nigcnll (OIN) 111 '-""","y lie cwJoJ not hide his daswlSwIlh thc N I IIilliDn N ~ alkxaed 10 KICUlIy. IiI)'VI& It~ Bob! lionm m=lCI: does 111.1 JlsWy the dclibame
r.:oo.
- . lOe!PJUIU&C<UJUpIKlI\ III !be IBtlt; of lignmg nz:cunI:y III IheCWlIU)'.
-on the htgbc:sl squbr liiio-
'*'I:Wl d N921 91 billion 10 5CQ1Ny, APBN IhInb abc ...... IS 1DUrmam. ~tbeOl;lldl)'II confiunIcd wid! h: IWI£ of BokD
Hanm. APBN
bcfieo,a
arongIy
INl dus an.x:..:.n IS 100 """ 1ft! dcth:nEiy tuned 10 ci>c ruom
atr:d thc aIJoc:atJooIlO ed.atIxln. heoaIth.fIO""'C'I".lxuq.~ and ""IkrTCllOllt'lC:llllrTO!il odlCIs.
$IIymgllq wac III
~
gD'IaTlID:nfs obp:n1lD of
wilh
Job
~lSlIIxlw~ulthc IDlJI(II..: 1-= of thc COIlnIf)' MAUocahom 10 edlK2llOn
(N4CXU6
btillon),
haIth
(N282.TI bilbm), ~ ard nnI de¥cIopmc:r-. (N1898 bUIron), ....,. ~ (NJ9 bi1lion), fIO""'C'I" (N161.42 tiIIoa), link and Inmng (N26.49 1mbon), JCcmz and rectmokl&Y
(rO).84 biIIitJn) 1I'CJUSt too low 10 JlWM he ~ of punmm. 10 c:mure uxbmaI growth,
e5Mft.IIIU)'
~ofour)'Dlllh5am!he
lind IIlJllllCtlClCIlD~irrw:!iligt1115 IIpCDIin& uodc:r fiICCUDI)' ~:'
ClU1IOIII IlDt5C 0\It:r the deo.dopmm d the agnwItuod .so::a:.- III CIIlb" 1O.dw:Yc .. ~ ~ 000.: t.c for d..: countI)':' he
fty COTUpOOII
$ID[lI:
AjD:lcIkDSIIId.
Th:: APBN pcsidcd _
f;2i6..
Oak Pensions Eyes PFA of First Choice -..n pnm:Ia5 and ..m. we mean is d. if)'OU _ thinDnI d p!DIIlIIlII N"1&CfIlIII mil IDIIrDuoy pcmaoo ~. we __ 10 he the PFA d fina dQoe and we _ aIn:ady aducviog !hal UI
.....:"hefirm'$bcaaid -so II)- 2016. we apt'CI N ....il!:ncYcr)QI d. anribuoy pcnIIOII Jdau:: III Illy 1lIIIc. Oak PensIOIIS. would IIlppI*" a one 0( Ibe belt MI1JC$ )QI cal think of ill IIt::m15 of a . IOnIcf sc:nicre. JIIIbiJiIy of malt..--.. qaaiiIy d a$IS$ and in ImnIi of rq;uI.wtry &.ocwm md !elle (Ill - . - Otayda _~
mo.a
....
puG
AJlIIIa.;oko5llldthc_
a FOOl! rmrt. on _
1II:Sl>()~IO~
the eo II1;II11)'. ~ and
t=OIUlIQIl
IgruWnI glWlUlllX
Nigcn.'" NIIbIe- and rqular ~ In the nell five
,.,.,. power
lie .... govao ncnt
~ wbcthIs _ IalWS about
pnJIolA..- d Ip.M!ity ~ ami lao aIth iaVUS • ...:I • good ,.t. Ird Qhcr ~ tIreS .. ~ !be ~ WIdm a n::MiOII;..I*: arne _ It IlII5 COIllIn-
....
~~
Th:: APUN ~a.I!ioa· ed w.1lI5hroao with thc fiR m nlducb In III !he mOO of the _ . !CIlIQ~lOthe~6g sa,.. !be anon ;dIocad
un:.
hl&h
10 it WI;! RiD !DO fa the IuJ.p:l1O[_lIIcthc~le"CId
-
COlI. . E
~th
ami dtw:Iop-
~"""1OIIl;b paurncnl
,led ' )
I"!!IIuDe !he
suuc-
nnnmI
C:O:JUlCIhIn rmm 14 per aD d Jt~bulget.:xtlllnn~(I:dI
oftulj ClllllDl2. N2...40triIIioa. ~ iii •
.11
~y
higb !bus
uOO.::mlUll~g!he gmrNIh In apoI KnaIllOl ...tudI is. ptlPOIIoI.'Id for a IIlCldcs 28 ~ CIl:3 of N 1.32 biI-
hon:' ,..fIIIIcSa*o aid
lie
oo.~ IlCIlCd tIlII- the assurq:uns wuc =-::all*: ami 8IaIIIlltR-,
201 1
1-4.
M>ay
I
~1hII"'ithlillk.«llD_ N'~ Ikb qIDII,lh!:
and Iho.
anbCIp.-d podlll:lJOD
of 2.4&
miUlOI'I t.lds per- tby a;arId
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