₦airaland Forum

bastardsafiu:
is that why you raped your nephew

DispatcherLagos:
I have been wanting to ask this question for a while now

Newslink:
https://pmnewsnigeria.com/2022/06/29/senate-delegation-to-visit-ekweremadu-wife-in-london/?utm_source=break.ma&utm_medium=break.ma

UCyril:
thanks for the information

Obalende:
RT BRISCOE has earned above average returns in recent years and i am tempted to invest.

however, the automobile & tyre sector has been known to be an under performer (i.e. compared to other sectors) worldwide. Also toyota cars (the traditional business) is a high ticket item.

Based on chairman statements and balance sheet - things look good - anyone here think share price could reach NGN45 by 2011?

constructive comments only(i.e. no insults etc).

Desammyst:
Good day everyone, please this is my first time creating a post on this forum. I need all the help and advise you can provide, please.
My dad is a retired civil servant who started remitting a certain amount of money as insurance to Niger Insurance Company. The maturity of the money was due for the year 2019. Two(2) years down the line, Niger Insurance has yet to give him his pension plus accrued profits, running into millions of naira.
He has reported to his office, they have communicated the insurance office in the state we stay, yet the manager there is going back and forth, nothing coming out.
The state insurance manager is aware that his pension is matured, yet she is promising him that the issue is from the headquarters in Lagos, that they're paying people one after the other. Giving all sort of excuses, yet nothing forthcoming.
As a family, we're very concerned. That's why I brought it here, so that we can know the best way to recover the money.
God bless you lightly, as you help out.

*Mods, please help me push to the front page.

UCyril:
They have refused to pay me after 3 years saving policy which ended March this year. Please I need help on how to collect my money. Thanks

A GIANT COMPANY (NIGER INSURANCE PLC) IS PRESENTLY RECRUITING FOR THE POST OF MARKETING EXECUTIVE, INTERESTED CANDIDATE SHOULD COME IN PERSON TO THE ABOVE ADDRESS OR CALL MRS ABIODUN ON 0802*******

ADDRESS:
302-304 ANTHONY, IKORODU

QUALIFICATION: Bsc,Hnd and OND MINIMUM

Kingsyze:
I started an education policy for my daughter with Niger insurance place about 2years and seven months ago, June 2016 precisely and by June 2018 i.e after two years of contribution of 50k every month ( totalling N1,263,306.92), I decided to surrender the policy due to my mother's deteriorating health condition as the money would help raise funds for her surgery which is staggering at 2.5m - 3m.
After my application was turned I asked my marketer how long it would take for the funds to be paid out to me and to my greatest dismay she said she doesn't know and to tell me the truth it's going to run into several months as there was a case of fraud at their management level and some directors or so made away with huge sums belonging to the company. I asked if our funds were never insured and I got no response.

Just like a joke it took a month plus and me picketing their Portharcourt office before my discharge voucher was sent to me for endorsement to notify them that I need to cash out.

Several calls to these people are not being picked and emails are not responded to. Their office in Portharcourt is always deserted as staff are always on the run due to policy holders that are requesting for their funds.

Till this moment I am typing, I have not heard from Niger Insurance Plc neither has my money been paid to me as this is making it seven months I stopped paying premium and applied for policy surrender.

My mother is terribly in need of this spinal surgery (which I attached a medical report to the application for policy surrender) and I am yet to raise the funds completely.

Niger Insurance is a fraud for now as I know that their marketers are still roaming the streets and preying on people's funds. So not give them your money under any guise, they are scammers and I have a video I made in their Portharcourt office to prove to you that all their staff are on the run and never pick their official numbers.

I have called their Chief Finance Officer (CFO) by name Sir James Ekperahwa for more than a hundred times and the phone rang throughout without picking.

I have also called the E.D Technical and Marketing by name Lawal Mijinuawa more than a hundred times and he picked up.

I have also sent a mail to all the email addresses I got from their website concerning this issue and no tangible response has made to my emails.

Hence, I am wondering if these set of creatures are human beings, not only that they have my money, this money it tied to my mother's critical health condition. This surgery needs to be performed asap as she is constantly in pains day in day out!

I need all the help I can get from the food people of nairaland including people I need to copy on this write up to make it move to front page.

Cc: lalasticlala
Seun

Obalende:
to all the insurance savvy people out there - do you think Niger Insurance is a good Company - I am interested in taking a few policies with them and also buying their shares - do they have a future with the likes of cornerstone and others viciously eyeing the market. I think they have good management - what do you think?

Jimalicoco:
Niger Insurance Company has betrayed policy trust. Trust is the most important character in doing any business but they have lost the seal of trust!
I won't recommend them for my enemy.
No prompt payment of matured policy plan.
No active customer care line.
No response to emails

This is fraud of the highest order.
Regulatory authority should look into their dealings.

vellihots:
The Nation

Niger Insurance in troubled waters


Niger Insurance Plc, arguably one of the foremost insurance companies in the country may be in dire straits as many policyholders have raised alarm over the inability of the company to pay claims as and when due, reports Medinat Kanabe

Indications are that Niger Insurance Plc, one of the high profile insurance companies in the country today may be facing some financial crisis of some sorts more than they are willing to admit.




Investigation by The Nation revealed that hundreds of existing policyholders were frustrated as the company management had told them there was no money to pay them.

Established in August 1962 as a specialist life company under the name Yorkshire Insurance Company, Niger Insurance Plc is a public quoted company, with an asset base in excess of N21 billion and fully paid-up share capital of N2, 868, 307, 000.

Genesis of the crisis

Signs that all may not be well with the company became apparent in the company’s annual report which showed it audited financials for the year ended December 31, 2017. The report which came almost 90 days after they were supposed to have filed it to the Nigeria Stock exchange, NSE indicated a zero dividend per share following the company’s slip into full year loss before and after tax despite underwriting profit and marginal growth in investment income, among others, after the N2.572bn charged for “management expenses” for the year.

The report stated that the figure was however down by N2.827bn in the corresponding period of 2016.

The Nation further gathered that the company technically collapsed about three years ago and they had been managing the situation until last year when it became obvious that they cannot continue to maintain their customers due to huge debts. It was gathered that they started paying in batches but since August 2017, it became more difficult to pay as customers whose policies matured increased and they became helpless.

Reality bite

When our reporter visited the Anthony Village branch of the company in Lagos, being managed by one Mrs. Nene, scores of clients reportedly owed over N1b barricaded the premises even as The Nation confirmed that the branch manager’s whereabouts was unknown.

When our correspondent contacted the Head Office on Lagos Island, the top managers confirmed that they were in a trying period and do not have enough money to pay their numerous customers who had policies with them.

One of the top management officers said that the company could not access their money because of the change in management and the crisis within the directors due to allegations of fraud. He said that an audit was carried out and it was discovered there had been massive fraud and the management were trying to put things right before they would attend to their clients.

Unpaid N1.819b Customs’ claims



About a fortnight ago, when the Nigeria Customs had raised the alarm that four insurance companies including the Niger Insurance owe its deceased officers’ benefits to the tune of 1.819 billion, reality dawned on many.

The Comptroller-General, Nigeria Customs Service (NCS), Hameed Ali, in Abuja had reportedly threatened to initiate legal actions against the companies for failing to pay the Group Life Assurance and Group Personal Accidents liabilities claims to the families and next of kin of deceased customs officers between 2009 and 2014.

At the press conference Col. Ali said they have taken all the steps that they can which included reporting to the National Insurance Commission (NAICOM) but to no avail.

More trouble for Niger Insurance

As if on cue, a day after the Col Ali’s outburst, Muda Ganiyu, a policyholder sent a petition to The Nation detailing his experience with the insurance firm.

In the petition entitled, ‘Niger Insurance giving Insurance a bad name,’ Ganiyu who claims that his policy matured in April last year but has since not been paid.

He said: “Two million one thousand naira is what was calculated for me to collect. The policy matured in April last year and since they have not paid me until now they are supposed to pay interest on the accumulated amount also but I haven’t seen anything at all.”

Explaining how he saved the money he said “I saved with them for 12 years from 2006 where I paid 10, 420 naira every month but I took some loans from the company which made me to have less than N2.5m left.”

Asked if he suspects any form of foul play, he said he could not be specific.

“Some have saved like me and their policy has matured, some others surrendered their policy but they have not being paid. What they told me was that the company has cash flow problem but because of the economy situation in the country, a lot of people surrendered but they are not making any promises and they don’t know when they will pay. The last time I went there I met one Mr. Epelle who told me in November that when they invested in shares, shares prices fell then they invested in real estate and now they want to sell the properties but business is very slow so I asked when I will be paid but he replied that he doesn’t know yet. From the look of things, it is obvious that they are in financial trouble,” he concluded.

Customers no longer at ease

It was gathered that their lives were not safe any longer having obtained money from people as policies and when the policies got matured, they could not pay those clients. Every day hundreds of clients troop to their branches demanding payment but there were not top officials to attend to them. The marketers and agents who convinced the clients to insure were now on the run as they had been unable to explain what happened.

Horror stories from disgruntled customers

Checks on the company’s Facebook page revealed much more. Many customers who have literally vented their spleen on the company were unsparing in their criticism.

A customer, Williams Chijioke wrote on his wall that he regrets doing business with Niger Insurance. “They have refused to pay my maturity claim since July, 2018 and there is no guarantee that money will be paid,” he wrote.



When The Nation contacted him, he said he was yet to be paid. Chijioke who said his policy matured in June 2018 said he is still thinking of what to do.

The policyholder who confirmed to the reporter that his claim is N584, 000, said that many people have the same complaints and the company is not doing anything about it.

Sylvia Inyama Nwankwo, another customer who wrote on the company’s Facebook page maintained that he would not recommend Niger Insurance to anyone.

“First, your member of staff (name withheld) who was my agent and a childhood friend embezzled the money for my renewal which was meant to be for a period of 18 months. I decided to liquidate the account based on my bitter experience so I can cut down on my losses. I initiated the process by submitting all the documents Niger Insurance requested which was acknowledged. I was told that I will have my bank account credited in about three to six weeks but I’m yet to get my money.”

Contacted, she said she has not been paid either as she added that her policy matured since August 2018. “My husband visited their office several times but nothing has been done until now. The bitter truth is that they don’t have the money to pay.”

Speaking further she said although the money due her is N400, 000 but it will make a lot of difference in her life if she gets it. “Because I worked for it, I earned it. I didn’t defraud anyone to get it so why in God’s name will they not pay me back. I save it for a reason and now I can’t use it for the purpose.”

She prayed that God helps her as well as others who are in the same situation.

Eze Eziokwu Echezona said, he has not been paid yet and his policy matured in August 2018. He declined giving further information to The Nation.

Ob-Nah Onyemize said if you want peace of mind, don’t try them. She told The Nation that she has been paid but it was more than six months before she received payment.

Speaking about her ordeal before she got paid she said her policy was due for payment in July 2017 but she was paid eventually in March 2018.

“I kept calling and sending messages through email. I kept disturbing them on Facebook also and I really needed the cash at that time. The annoying part is that the people that sold the policy to me just kept quiet about the whole situation. My joy is that I didn’t introduce anybody to it.”

Asked if she ever visited the Niger Insurance Company office near her she said not at all. “Funnily, I didn’t go to their office because it would have been a waste of time for me.”

Nwankwonta Yvonne Chinedu who also wrote said: “I write to express my displeasure, my claim has been outstanding since December 2017 and I have not been paid since then.”

Oladepo Abass wrote that Niger Insurance does not have an active phone number on their website. Nothing is functioning well there. Nobody responds to mails and payments are not made as at when due.

Kayode Adeniyi said anytime I think about Niger Insurance is also a distraught customer. According to him, his claim reached maturity since July but his entitlement has not been paid. “I am going to report to NAICOM,” he threatened.

Company’s response

When the reporter called the company’s customer careline, 08133244981, to find out the situation with Muda Ganiyu’s case, a certain Amara who received the call, assured that the money would be paid any moment from the time of the call.

When contacted, the Public Affairs Officer, Mrs Sola Ade-Olatunji said she would rather the reporter speaks with the Client Service Department.

Miffed by what she described as barrage of questioning, the media minder of the company emphasised that only a staff of Client Service Department was in a position to respond very well to the reporter.

Pressed further, she said the petitions from dissatisfied customers should be sent to her so the issues would be resolved.

Asked about the Nigeria Customs’ press conference where it was announced that Nigeria Customs will sue the company she asked if this reporter was at the conference and requested that she goes to others that were present to ask what was discussed.

On claims that the company used over N2bn as management expenses in 2017, she said she doesn’t know who she was speaking with, neither can she respond because she has to also go and do her own investigations.

To give her room to answer the questions very well, this reporter asked if she can send the same questions to her through WhatsApp which she agreed to but she never responded to any of the questions.

As the wave of complaints of clients rage, it is crystal clear that the issue of unpaid claims will remain a hotly debated issue for a long time.

kellyjoesteve:
I have said before, and i will keep saying it, that time have pass when will fold our hands and allow everything we work for damage. Economic is not that friendly again, and one must do everything to protect whatever he/she got. Be it investment, house, car, education or whatever. Is very very important to pay great attention to them, and the
only way to do that is to get them all insure. The rate at which other countries are developing have been attributed to insurance. The importance they pay to insurance, haven over the years discover the benefit of it. No one now spend his or her life time doing one thing. to me this is the basic of life the knowledge to do things right and prosper therein. Lets continue, www.careinsure..com

kingsways:
Shut up there!!

How did he ruin his reputation


He should not try to save his sick daughter

PumpumPrince:
to enjoy u please: how much for kiss, hug, extra kiss & extra warm hug..how hug?

omoharry:
The thing tire me . This was how they thought they were the privilege one at the beginning of Buhari regime and started calling the SS & SE 5%. I thought that the SW by now would have been developed with less poverty ,less insecurity and advance infrastructure across all the SW state .
I was surprised to see them fighting to protect thier lands from Headmen. They also avoid traveling on land because of the increase rate of banditry. They also joined us in lamenting over the high cost of goods and services in the country and watch helplessly as our currency loses value before smaller countries like Benin Republic and Ghana.
We are not ready yet as nation .When we do ,nobody will tell us before we carry placard to force our leaders to either restructured the country or devide it.

Naijanascam:
If you happened to write something like this relating to a subject in your exams,, the marker will just give you a resounding OP......

Off point

Kaymicheal852:
Where are you located?

omoharry:
This article is evidence to the fact that Nigeria is not yet a country. How can you tell a tribe that you made the state conducive for them to live In? He should have made Lagos only condusive for his tribe men becos he is nothing but a tribal leader. He feels by allowing other ethnic group to live in Lagos, is a great privilege...what a man that calls himself a national leader .
So the people of Abuja can now say other non tribe should be thankful for a accommodating them abi ? What about Port Harcourt and other state of the federation where we have people from different ethnic group including the Yorubas, doing very well ? Do they ring it in Thier ears that they should be thankful for allowing the state conducive enough for them to do business? Is Tinubu originally from Lagos state ? Is he not originally from Osun state which he is ashamed off ? Shouldn't he be thanking the Aworis and other real indigine of Lagos for thier hospitality towards him, for giving him the privilege to contest and win Lagos and went ahead in establishing his empire ? Nigeria don't need this kind tribal and entitled leader .

Naijanascam:
Is this long epistle related to the few words i wrote above?

chii8:
I don't have a favorite fruit but I don't like watermelon and paw paw!

Naijanascam:
This is where some of the laziness in most christians and non christians blossomed

omoharry:
The thing tire me . This was how they thought they were the privilege one at the beginning of Buhari regime and started calling the SS & SE 5%. I thought that the SW by now would have been developed with less poverty ,less insecurity and advance infrastructure across all the SW state .
I was surprised to see them fighting to protect thier lands from Headmen. They also avoid traveling on land because of the increase rate of banditry. They also joined us in lamenting over the high cost of goods and services in the country and watch helplessly as our currency loses value before smaller countries like Benin Republic and Ghana.
We are not ready yet as nation .When we do ,nobody will tell us before we carry placard to force our leaders to either restructured the country or devide it.

dre11:
https://punchng.com/obi-kwankwaso-yet-to-agree-on-presidential-candidate-running-mate/

Noerection:
https://punchng.com/south-west-pdp-demands-senate-presidency-sgf-party-chair-from-atiku/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1656131737