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The Peninscope Professional Warranty Limited has said there is a need to give attention to various government policies as they relate to investment of pension and insurance funds.
It stated this in a statement on its upcoming public lecture with the theme ‘Government policy as it affects various investment options of pension and insurance funds in Nigeria’.
It stressed that this was also aimed to appreciate companies and individuals for their various contributions towards the development of the industry, as well as launch the sixth edition of PensionScope magazine.
It stated, “Pension and insurance have been the two industries closely related because they are guided by the same principle: security and investment. Unfortunately they have been badly hit by missiles emanating from misinformation, corruption and mismanagement. All these thrive because people have not been properly informed and educated.”
According to the organisation, this has led to a high level of fraud in both the pension and insurance industries.
“Because both beneficiaries and claimants have suffered not only in silence but also in the open, hence the inevitable explosion leading to exposure of various forms of corruption in the industries,” it added.
It also said that Peninscope is made up of professionals in both pension and insurance with over 30 years of experience.
Peninscope said there was a need to bridge the invisible gap causing disjoint in a relationship which was supposed to be cordial between the insured/contributors and the insurer/fund administrators but were frequently strained.
The statement said that Peninscope had a lot of activities to contribute in making the system work.
The lecture would examine various investment options, as well as the effectiveness of regulatory bodies including the National Insurance Commission, the National Pension Commission, the Central Bank of Nigeria, the Security and Exchange Commission, it stated.
The firm also said the Lagos State Governor, Akinwumi Ambode, would be one of the awardees at the event.
It stated this in a statement on its upcoming public lecture with the theme ‘Government policy as it affects various investment options of pension and insurance funds in Nigeria’.
It stressed that this was also aimed to appreciate companies and individuals for their various contributions towards the development of the industry, as well as launch the sixth edition of PensionScope magazine.
It stated, “Pension and insurance have been the two industries closely related because they are guided by the same principle: security and investment. Unfortunately they have been badly hit by missiles emanating from misinformation, corruption and mismanagement. All these thrive because people have not been properly informed and educated.”
According to the organisation, this has led to a high level of fraud in both the pension and insurance industries.
“Because both beneficiaries and claimants have suffered not only in silence but also in the open, hence the inevitable explosion leading to exposure of various forms of corruption in the industries,” it added.
It also said that Peninscope is made up of professionals in both pension and insurance with over 30 years of experience.
Peninscope said there was a need to bridge the invisible gap causing disjoint in a relationship which was supposed to be cordial between the insured/contributors and the insurer/fund administrators but were frequently strained.
The statement said that Peninscope had a lot of activities to contribute in making the system work.
The lecture would examine various investment options, as well as the effectiveness of regulatory bodies including the National Insurance Commission, the National Pension Commission, the Central Bank of Nigeria, the Security and Exchange Commission, it stated.
The firm also said the Lagos State Governor, Akinwumi Ambode, would be one of the awardees at the event.
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