By Chris Agabi
President Muhammadu Buhari has directed the Head of the Civil Service of the Federation to work with the National Insurance Commission (NAICOM) to collate details of all insurance policies in respect of all government assets/liabilities as at February 2016.
The directive, sighted by Daily Trust exclusively, was issued on March 15, 2016 and signed by the Chief of Staff to President Buhari.
The directive was sequel to NAICOM’s earlier request that all ministries, departments and agencies (MDAs) of government should furnish it with details of their insurances as at the end of February, 2016 for tracking.
NAICOM had issued a public notice on March 9, 2016 titled “Request for Details of all Insurance Policies in Respect of all Government Assets/Liabilities as at February 2016.”
The NAICOM Act 1997, among other functions, vests on the commission the responsibility of ensuring adequate protection of government assets as well as advising government on all insurance-related matters.
The information to be provided in the template include: the insured assets/liabilities, type of policy, name of the policy, the period of cover, the sum insured and the underwriter among others.