Queue at the filing station The President, Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
By Akinola Ajibade
The Federal Government may klacklist insurance companies over irregular payment of death benefits to civil servants, the Head of Service of the Federation, Dr Folshade Yemi-Esan has said.
She said the firms are showing laickadaisical to the payment of civil servants' benefits, adding that the government would not continue to tolerate their actions, unless they change.
She spoke during the meeting with underwriters of the Group Life Insurance for Federal Civil Servants in Abuja.
Accorfing to her, the government is improving the welfare of the families of the deceased workers by releasing funds in order to pay their benefits, querying such insurance firms for not doing their job as at when due.
Such actions, Yemi-Esan, said are not acceptable and should be corrected in the interest of the affected families.
According to her, the meeting with underwriters was necessary in order to bridge the gap existing between the them and brokers, because it was unreasonable to continue doing the same thing repeatedly without achieving meaningful result.
She said that the payment of insurance claim is not rocket science, stressing that her Office performs similar function through seamless settlement of backlog of claims not covered by the present arrangement.
" The Key Performance Indexes (KPIs) on settlement of claims as of September, 2022 indicate that the total number of claims reported was 776; number of claims paid was 357; total sum on claims reported, N4,201,392,384.27; number of awaiting EDVs from HoS/MDAs 101; total amount paid N1,574,709,562.12; number of awaiting DVs from Lead Underwriter 150 (2,626,682,822.15), total amount expected from EDVs N785,123,928.73, number of incomplete documentations 168 and total outstanding claims is N1,841,558,893.42" Yemi-Essn added.
Continuing further, she said that there was a clear indication of a huge gap between the number of claims reported and those paid, adding that there is the need for improvement from the insurance service providers, as there is always room for other alternatives.
Speaking on behalf of the underwriters, the Lead Underwriter and CEO of Old Mutual Nigeria Limited, Mr. Segun Omosehin, expressed his gratitude to the Head of Service for her concern and show of outright displeasure over their low performance.
He expressed commitment to support the Head of Service by doing the needful to bridge the gap existing between the underwriters and the brokers, which he identified as the major issue responsible for the late payment of claims to families of deceased civil servants.
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