SEARCH BOX

Translate

Showing posts with label Today update.. Show all posts
Showing posts with label Today update.. Show all posts

Is Rabies A Real Threat or All Hype? find out here..

;

We heard so many different things about rabies that it is hard to separate myth from facts. When puppies receive their vaccinations, one of the shots in the series is a rabies vaccination.



People that live in rural areas often worry about their pets being bitten by a wild animal because that animal may have be infected.

Is Rabies A Real Threat or All Hype? find out here


The first thing most people worry about when they are bitten by an animal is if that animal has rabies. If possible, the animals will be captured and tested.

Let’s start out with, what is rabies?

It is a viral disease that can be carried by any mammal. It is normally transmitted through the bite of a rabid animal, that is, an animal carrying the virus.
The virus is typically spread through the saliva of an animal that bites and breaks the skin. The virus attacks the central nervous system of its host causing several different problems.
In animals, the virus can cause them to become combative and highly aggressive. In animals and humans both, extreme muscle soreness and pain sets in, especially in the muscles associated with swallowing. This can cause extreme thirst in both humans and animals. Symptoms of animals will usually develop within 20 to 60 days after contracting the disease. Death generally occurs a few days after symptoms appear, usually from respiratory failure.

Humans can carry the virus for around 25 to 50 days before symptoms show. People will typically suffer from headaches, extreme fatigue, muscle weakness, and fevers. Once symptoms begin showing, it only takes a week or so before serious nervous system damage sets in. Once in that stage, it is likely a person with rabies will die. They generally die either from respiratory failure or cardiac arrest. If properly treated, rabies is rarely fatal. Treatment needs to begin before the symptoms set in.
Although there is no reason to spread fear and panic by thinking all wild animals carry rabies, due caution needs to be used. Personally, I do not feed the squirrels because I do not want to make them dependent on people food and I do not want to get bit. I am not very worried about contracting rabies from them.

However, because of the deadly nature of rabies, you should seek immediate medical attention if bitten. Wash the wound with water and soap and head straight for your doctor or local emergency room.


For wild animals, if possible have animal control capture the animal so that they can be tested for rabies. For domestic animals, still, have animal control get involved and confirm the animal’s health. Typically, domestic animals account for about ten per cent of rabies cases. Those animals are usually dogs, cats, and cows.
Rabies is a very serious disease and you should vaccinate your pets against it and protect yourself by using caution when around wild or unfamiliar animals. However, there is no need for all-out panic and concern. Enjoy life and enjoy our furry friends too.
JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE




The Health Literacy Challenge of Controlling Ebola Spread in Nigeria

;


There is no doubt that Nigeria faces a number of health challenges. The unfortunate and scary emergence of the Ebola Virus Disease (EVD) in the country has not only compounded the problem, but has also exposed the inherent lapses in our public health system.
The Health Literacy Challenge of Controlling Ebola Spread in Nigeria


There is no known cure for EVD at the moment. However, the furor surrounding the deadly EVD and its attendant casualties has naturally stimulated people’s instinct of wanting to steer clear and seek preventive measures by all means.
First, there is the publicly touted Bitter Kola remedy. While this has been refuted and dismissed by the Federal Minister of Health, it is understandable that some individuals, in a ‘leaving-no-chances’ attempt have continuously snacked Bitter Kola ever since. This is because of its link with a stalled research led by Nigeria’s renowned Professor of Pharmacognosy – Prof. Maurice Iwu. It is important to emphasize that this research ended in the laboratory and was never tested on animals or humans.
The second and more recent rumour of a preventive measure for EVD is that of bathing with salt water and drinking a portion of the mixture. This sounded funny at the wake of its peddling, considering the fact that there are no previously known human health benefits of bathing with salt water. The resultant effect of the rumour on some individuals however turned out otherwise. For instance, my grandmother in the village deprived herself of adequate sleep and expended her call-credit on spreading a false story in a bid to ensure her children and grandchildren remained healthy in the supposedly EVD ravaged city they lived in. She now knows better. However, as reported in the media, several individuals  were not so lucky, as excessive consumption of the salt- solution led  to their untimely deaths; about 20 others are learning the hard way on the hospital bed.
The foregoing points to the fact that in the wake of an outbreak like the EVD in Nigeria, a greater health challenge has surfaced – that of health literacy. The popular saying “Illiteracy is a disease” resounds here, but even more resounding is the realization that health illiteracy is deadlier.  The mere fact that people died as a result of the salt-water rumour is a challenge that calls for serious campaigns on having not just information literate citizens, but also health literate ones.
The World Health Organization (WHO) has defined health literacy as “the cognitive and social skills which determine the motivation and ability of individuals to gain access to, understand, and use information in ways that promote and maintain good health.” More lucidly, the United States Institute of Medicine (IOM)  defined it as “the degree to which individuals have the capacity to obtain, process, and understand basic health information and services needed to make appropriate health decisions.”
Analysing these definitions poses a number of questions which we need to answer as a country if we intend to make progress as healthy individuals or even curtail the spread of the EVD. That people can act on rumours and die as a result, calls for urgent steps in ensuring that citizens are imbued with the skills needed to be rightly informed. These skills will in no doubt help individuals to make appropriate decisions regarding their health. Rumours will always spring up in the society. However the responsibility lies with individuals to verify the authenticity and credibility of whatever information they intend using. This again calls for information literate citizens, but more importantly health literate ones in times like this.
There are a number of challenges surrounding the attainment of a completely health literate citizenry. In fact, it is an ongoing discourse in academic circles. However, as a matter of urgency, the health information use dimension of health literacy should be brought to fore by the government and agencies alike. This, I believe will help in curtailing the spread of diseases during times of epidemics and also help people make informed decisions concerning their health.
Information access and sourcing is one aspect of the health information use dimension that needs to be taken seriously. While one may be quick to point out that we live in a ‘Google-is-your-friend’ age, many Nigerians, especially those in rural areas (like my grandmother) do not have access to the internet or are not literate enough to utilize it. That most rumours originate and spread via today’s social media, and that some of these so-called Google generations are gullible enough to bite them is a matter of discourse outside this piece.
There is therefore a credibility demand on all health information access portals. Government and its agencies should ensure that timely and accurate health information is readily available and widely disseminated  in all formats and media. Health professionals,  the print, broadcast and electronic media, telecommunication companies, business organizations, non-governmental organizations, academics, social media influencers, traditional rulers and religious leaders all have a role to play in ensuring that we have a more health literate society.
JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE



Dying to Be White? – The Psychological and Physical Consequences of Skin Lightening, read all here

;


Dying to Be White? – The Psychological and Physical Consequences of Skin Lightening, read all here...

Time and time again this phrase has been printed on shirts, exclaimed in speeches, and incorporated in musical pieces (i.e. Black is Beautiful by Flavour). Fueled primarily by the Black Power movement, many of us casually state that “black is beautiful” with ease. Yet, many Nigerian women (77% according to the World Health Organization) continue to outwardly struggle with the phrase “MY black is beautiful,” in the form of an apparent desire for whiter and lighter skin.
Dying to Be White? – The Psychological and Physical Consequences of Skin Lightening, read all here


In a predominantly black country, how can I say that women are struggling with colorism? The fact that the skin bleaching industry exists and thrives in Nigeria is a substantial indicator of internal insecurities becoming externalized and profited upon.
“Fanta face. Coca cola body.” We see them everywhere. The women with faces as translucent as the day and bodies as dark as the night.  Some may say it is merely a fashion statement, like trying on a new dress or a new lipstick, and who are you to tell them how to look at their daily lives? However, bleaching one’s skin cannot be likened to a simple fashion choice.
New dresses do not usually expose you to kidney damage – skin lighteners do. The skin bleaching industry remains highly unregulated, allowing companies to incorporate hazardous chemicals, such as mercury and hydroquinone, which can result in kidney damage, damage to the nervous system, fungal and bacterial infections of the skin, hypertension, diabetes, skin and liver cancers, depression, blindness, obesity, discoloration, bodily rashes, and scarring – in pregnant women, it can increase the risk of stillbirths, low birth weight, and neonatal infection. The list of side effects is seemingly endless. Many times these harmful substances are not even included on the ingredient list.
However, the negative effects transcend the purely physical. Similar to the bodily effects, skin bleaching agents run the risk of psychologically scarring and discoloring the minds of those who utilize it and the young people who witness its use.
Post-colonialism has permitted whiteness and lighter skin to possess a level of privilege in global society. We are no longer under European rule. Yet, the residue of Eurocentric beauty ideologies has proven more difficult to rid ourselves of than simply declaring our independence.  These self-destructive, unattainable beauty standards were so heavily embedded in our ancestors and as a result have been seamlessly intertwined into many of our upbringings to the point that its presence has become unconscious and unquestioned. However, ubiquitousness is not an indicator of legitimacy. We should not allow this mindset to continue to permeate into the views and self-esteem of ourselves and those that will come after us – our children and progeny.
Chasing after an illusory standard of beauty that was never meant to incorporate the wide array of blackness that exists in our world is analogous to fetching water with a straw basket – no matter how much you fill the basket, the water seeps out and the basket remains empty.  So, what can we do to change this?
It’s about education. It’s about health literacy. Is it worth bleaching your skin only to end up compromising your health AND your physical appearance – the very thing you were trying to improve? It starts small. Learn to love yourself. Teach your children to love themselves. Take a stance against skin bleaching. Fashion designer Adama Paris refuses to use models who bleach their skin. You may not have the platform Ms. Paris possesses, but it can be something small. Share this article with your friends, loved ones, colleagues. Spread the message. It is in our hands to plant the seeds of self-acceptance.
What I am suggesting is a concerted effort to love ourselves the way we are made.
 White IS beautiful.
 Black IS beautiful.
Beauty is such a diverse concept. Let’s not limit it to one standard.
Source...www.radianthealthmag.com
JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE



So many people asked! Can Omega-3 Fatty Acids Help With Prevention Of Postpartum Depression?

;
What is Postpartum Depression (PPD)?
Some of us or someone close to us might have experienced a depressive episode at some point after pregnancy and at various degrees, but could not at the time give a name to the symptoms being experienced, because oftentimes the episodes are not usually made reference to as an illness.
Postpartum depression, also known as postnatal depression (PPD) refers to a major depressive episode that occurs after birth characterized by a prolonged period of emotional disturbance. This occurs in about 20% of child-bearing women.
PPD tend to have a negative impact on the cognitive and psychological development of infants born to mothers with PPD. The duration and onset of PPD can be as early as 4 weeks after child-birth and can last several months, especially in women who have had the symptoms in previous pregnancies.
What are the symptoms of Postpartum Depression?
Despite its high prevalence, PPD frequently goes unrecognized or unreported due to the similarity between the vegetative symptoms of depression and the physical symptoms commonly experienced by women in late pregnancy and/or after birth, such as fatigue, insomnia, loss of appetite and low libido.
The common symptoms to look out for are:
  1. Loss of interest in life and usual daily activities
  2. Inability to function in everyday activities
  3. Feelings of irritability, anxiety, fear, self-blame guilt
  4. Increased crying spells, sleep disturbance
  5. Withdrawing from family and friends
It is important to note that these symptoms can be on and off for a long duration of time.
What causes Postpartum Depression?
The causes of postpartum depression are not clearly defined. However, here are some known contributing factors:
  • Genetic vulnerabilities: A family or personal history of depression or previous experience of depression and anxiety.
  • Hormonal changes: Fluctuation and/or fall in reproductive hormone levels.
  • Psychological stressors: Stressful events (e.g. death of a loved one), marital dysfunction, child care stressors as well as the unreasonableness between the expectations and reality of motherhood.
  • Insufficient social support
  • Nutritional deficits/Poor diet
  • Changes in sleep and circadian rhythm and low physical activity
  • Exposure to toxins: Air pollution, crowding
  • Low socioeconomic status
You may be familiar with the use of omega-3 fatty acids for the prevention of heart disease and for cholesterol control, however, over the past decade, there have been several studies investigating the benefits of Omega-3 fatty acids for the prevention and treatment of postpartum depression either used alone  or in combination with antidepressants.
What are Omega-3 Fatty Acids?
Omega-3 fatty acids are polyunsaturated fatty acids (PUFA) derived mainly from food sources like eggs, beans, vegetables, fish (especially oily fish like Mackerel, Sardines, Tuna, Salmon) and nuts (Peanuts, Cashews, Walnuts, Almonds).
Examples of Omega-3 fatty acids include Eicosapentaenoic acid (EPA), Docosahexaenoic acid (DHA) and Alpha-linolenic acid (ALA), these can be found as the active ingredients in most over-the-counter Fish oil.
Studies have shown that PUFAs are necessary for normal neurologic and structural development of the fetus. They are the integral building block of the CNS in infants.
Benefits of Omega-3 Fatty acids in the prevention of PPD?
Omega-3 faty acid is transferred from the mother to the fetus during pregnancy and breastfeeding, leading to the decrease of the maternal omega-3 fatty acid levels during pregnancy which can remain low at least 6 weeks after child birth.
There is a link between pregnancy, omega-3, and the chemical reaction that helps serotonin (a mood regulator) to be released into our brains. Evidently, high intake of Omega-3 fatty acid is associated with increased gray matter volume in the brain region controlling mood and depression.
The omega-3 fatty acid subcommittee of the American Psychiatry Association (APA) supports the American Heart Association (AHA) guidelines regarding fish consumption and further recommends that patients with mood, impulse control or psychotic disorders consume more than 1g/day of combined EPA and DHA; this is because there are indications that psychiatric illness and cardiovascular disease may be comorbid.
According to a study by Su et al, a dose of 4 g /day was most effective in improving depressive symptoms during pregnancy. Some prenatal vitamins contain just 0.6g/dosage form, so 6 tablets of an over-the-counter product may be needed to achieve the benefits the study observed. However, most popular fish oil supplements like cod liver oil, contain up to 1.0- 2.0 g of EPA/DHA per dosage form, so only 3 capsules /day may be needed.
Some common side effects include loose stool, nausea (mostly because of the fish smell and diarrhea (mainly due to high dosage). These side effects can be minimized by taking small doses with every meal instead of one high dose on an empty stomach.
So, Should I take Fish Oil?
Women already taking antidepressants should not discontinue treatment/therapy in place of omega-3 fatty acids supplements. However, omega-3 fatty acids may be used in combination with antidepressants, if approved by your treating health care provider.
My recommendations are:
  • Omega-3 acids should become part of pre-natal and post-natal vitamin supplementation in all women, whether predisposed to depression or not. This is because there is evidence that tissue level fatty acid tend to diminish during pregnancy due to demand by the fetus.
  • It is recommended that patients start at 1g of EPA and/or DHA per day, especially for people who consume fish frequently   and have a high tissue level of omega-3 fatty acids, however for people who do not eat fish regularly, an initial dose of 2 to 4g daily may be required. It is a challenge to get enough omega-3 FAs from food only.
  • Take time to read the labels of the over-the-counter fish oil supplements. The main active ingredients needed are DHA, EPA and ALA. Some brands contain as high as 92% omega-3, while others contain as low as 30 %.
  • Do not take fish oil supplementation if you are on blood thinners (like warfarin or high-dose aspirin) or any other medication without consulting your doctor. This is because omega-3 fatty acids can temporarily prevent blood clot.
In general, omega-3 fatty acids may be considered an option for the prevention of PPD, based on the possibility of their antidepressant effects and as well as other health benefits in pregnancy. It is still premature to use omega-3 fatty acids alone for the treatment of depression, since studies are not conclusive on its use as monotherapy.
Source:www.radianthealthmag.com
JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE

You Not Pregnant and you haven't seen your Period For 3 Months? Read here now.

;

I have not had my menstrual period  for three months and am not pregnant because I have tested several times. What do you think is wrong with me?
 
A woman who has missed at least three menstrual periods in a row has amenorrhea, and should be evaluated by a physician.  Amenorrhea is not a disease itself, but a symptom of an underlying disorder. The most common cause is pregnancy. Even though a woman has tested herself several times with home pregnancy tests, and the tests were all negative, a pregnancy test ordered by your doctor is the first step in finding the cause of amenorrhea. You might experience other signs and symptoms, depending on the cause of the amenorrhea, such as: a milky nipple discharge, hair loss, headache, vision changes, and excess facial hair.
There are a number of possible causes of amenorrhea, including the normal course of a woman’s life, a side effect of medications, or a medical problem. Amenorrhea occurs naturally during pregnancy, breast-feeding, and menopause.
Some of the medications which can stop menstrual periods are: birth control pills, antipsychotics, cancer chemotherapy, antidepressants, and blood pressure pills.
Some lifestyle factors can cause amenorrhea. Mental stress can cause changes in the hypothalamus, an area in the brain that controls the hormones that regulate menstruation. After the stress decreases, periods will usually start again.
Excessively low body weight can trigger amenorrhea, and affect other body functions controlled by hormones. Eating disorders, such as bulimia or anorexia, can cause hormone changes that halt menstruation.
Sports that require rigorous training, such as long-distance running or gymnastics, can disrupt menstruation. In athletes, low body weight, rigorous training and stress can combine to halt menstruation.
Many medical problems can cause hormonal imbalances affecting menstruation, such as thyroid gland dysfunction, benign pituitary (a gland near the brain) tumors, premature menopause, and polycystic ovary syndrome (PCOS), which causes constant high levels of hormones, rather than the normal fluctuation of hormones affecting menstruation.
Structural problems of the reproductive organs can cause amenorrhea, such as scarring within the uterus, congenital absence of sexual organs, and abnormal structure of the vagina.
Amenorrhea can cause complications, such as infertility, and osteoporosis later in life.
Finding the underlying cause of amenorrhea can take considerable time and testing. Your physician will order blood tests, which may include a pregnancy test, to rule out or confirm pregnancy. Thyroid function tests will determine if the thyroid gland is functioning properly. Ovarian function tests will determine if normal ovulation is taking place. Male hormone tests may be needed, especially if you have increased facial hair or a deepening voice. A hormone challenge test may be performed, in which hormonal medication is taken for 7-10 days to trigger menstrual bleeding. The results may reveal a lack of estrogen as the cause of amenorrhea.
Depending on the results of the blood tests, your signs and symptoms, and your personal history, the doctor may order imaging tests to visualize the reproductive organs. An ultrasound test will check for presence of the reproductive organs. A CT scan takes many X-ray images to indicate whether the uterus, ovaries and kidneys look normal. An MRI yields detailed images of the brain and surrounding glands. It can detect pituitary tumors.
If no specific cause is found, the doctor may recommend a hysteroscopy, in which a thin, lighted camera is passed through the vagina and cervix to visualize the inside of the uterus.
Treatment depends on the underlying cause of the amenorrhea. Birth control pills may restart your menstrual cycles. A thyroid or pituitary problem may be treated with medication. Surgery may be necessary to remove a pituitary tumor or to correct a structural abnormality.
Lifestyle factors may need to be adjusted.  A balance of work, recreation and rest is desirable. Reduce stress, and ask for help from your doctor, friends and/or family. Keep a record of your periods – the start date, how long it lasts, and any associated symptoms.
This content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have read on this Website.



The Federal Government has appeals for adoption of life insurance

;

The Federal Government has appeals for adoption of life insurance...

With various development initiatives in the country, Nigerians need to build up a solid financial plan for future through life insurance planning, the Federal Government has appealed.

The Federal Government has appeals for adoption of life insurance


The Minister of Finance, Kemi Adeosun, disclosed this at the third NAIPCO conference, with the theme: “The Role of Stake Holders in Developing Insurance and Pension Sectors.
The minister, who was represented by the Deputy Commissioner for Insurance, Finance and Administration, George Onekhena, said life insurance holds the key to wise financial planning and is panacea for poverty alleviation among Nigerians at all levels, including grassroots dwellers.
She urged Nigerians not to neglect life insurance, even as it is a common habit, noting that it is equal to building one’s foundation on a shallow ground. 
 Adeosun stated that citizens should rather be making enquiries on a particular life insurance policy that would be beneficial, as well as how to go about it.
She also said that those in doubt could engage the services of 
insurance brokers for professional advise, adding that this has become necessary because nobody knows the day of his death and it will be disastrous for anyone to leave dependents without benefits.
“Every Nigerian buys one house hold item or the other at any time and you don’t enter the market and start making your purchases.
“You make enquiries before going to market, in like manner, in your life insurance decisions, you can take time to ask questions 
on the life insurance policy you want to buy. Nobody knows the day of his death, so life insurance is critical, life insurance is foundation to every wise financial planning”, she stated.
Speaking on the challenge facing insurance and pension operators in Nigeria, she said people hardly tell the public when they get benefit from these two sectors, citing 
instance of quantum of retirement benefits paid on monthly basis by Pension Fund Administrators (PFAs) 
to
 retirees and quantum of claims paid in yearly by insurance firms.
NAIPCO conference is the only forum that brings both
 pension and insurance operators, their regulators and stakeholders together to discuss their affairs.
The conference played a key role in settling the crisis that arose last year between the two sectors in annuity administration and management.
 
JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..DATING GROUP WORLDWIDE



Insurance inclusion policy for 40m adults in rural communities

;

Insurance inclusion policy for 40m adults in rural communities...

The traction in the insurance industry remains undaunted and the recent upsurge in policy directions has proved it. Just after the unveiling of a three-tiered recapitalization plan for the industry, the National Insurance Commission (NAICOM) explained that it has already mapped out development strategies that would accommodate about 40.1 million adults in the rural areas that are excluded from any form of financial services across the country.

Insurance inclusion policy for 40m adults in rural communities


The development portends a huge opportunity for the sector, especially, as it would move the industry towards the N16 trillion total asset base target for year 2020, if actualized. But this could only be reliable if the industry’s potentials are well harnessed alongside the plan.
“Such target mandates industry stakeholders to harness all potentials that were hitherto lying fallow. There are still many risks that are yet to be insured.
“Insurance practitioners have not been able to flood the market with enough risk covers and this is a major reason researchers described the Nigerian insurance sector as grossly untapped, with less than one per cent of Nigerian housewives having insurance cover, even though the industry had been in existence for close to a century,” NAICOM chief, Mohammed Kari, said.
Giving the indication in a paper delivered during the Nigeria Council of Registered Insurance Brokers (NCRIB) forum in Uyo, Akwa Ibom State, Kari said statistics have it that the Nigerian adult population, which consists of people from 18 years and above, is 96.4 million, out of which 59.6 million are living in the rural areas.
But Kari explained that among the rural populace, 40.1 million are excluded from any form of financial services, adding that the Nigerian formal sector provides income to only 7.9 million adults, representing 4.2 per cent, whereas 41.6 per cent are excluded from financial services, particularly, insurance.
According to him, this offers a huge opportunity for “the future broker” to provide desirable services to close these existing gaps and enhance the general performance of the industry.
He said that in the past five years, the Gross Written Premium of the industry has hovered between N300 billion and N320 billion, which is evident of the fact that the figures are not growing in the same proportion, if the enormous potential at the disposal of the sector is to be used as benchmark.
“Nigeria, according to the 2017 world population records, is designated as the seventh most populous country in the world, accounting for 2.6 per cent of the world population. Again, Nigeria is the 21st largest economy of the world in Gross Domestic Product (GDP) terms and the largest economy in Africa”, he noted.
Kari said that a cursory overview of the access to financial services in Nigeria indicates that there is a huge deficit in terms of financial inclusion, which insurance is a veritable part, but missing great opportunities.
He averred that statistical analysis indicates that Nigeria requires aggressive and strategic developmental efforts towards reaping the benefits of its abundant potentials, and that this has become an imperative, rather than an option, if ordinary Nigerians who have no access to financial services must be brought to the fold.
“For us at NAICOM, let me re-emphasis our commitment towards driving the Nigeria insurance industry to greater heights by providing strategic and far reaching regulatory frameworks and market development initiatives in accordance with extant laws and best practices.
“The Commission, specifically introduced Micro insurance, including Takaful products in the country, as an attempt to address the identified existing gaps to aid penetration and reach the segment of the market that was either hitherto unreached or not comfortable with the conventional insurance products.
“The decision to create additional channels for insurance distribution is also in this light. We are equally optimistic that the expanded distribution channels will in no distant time aid the penetration of insurance in Nigeria and subsequently lead to a substantial leap in the contribution of insurance to the nation’s Gross Domestic Product (GDP)”.
The insurance expert said that with the recent climatic changes and the menace of floods, storms and outbreak of diseases to the country’s agricultural produce and livestock, NAICOM is poised to improve its regulatory and supervisory framework.

JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE

Insurance recapitalisation deadline now October 1 – NAICOM

;

Insurance recapitalisation deadline now October 1 – NAICOM..


The National Insurance Commission (NAICOM) on Friday confirmed backdating the insurance companies Tier-based recapitalization commencement date to Oct. 1, as against January 1, 2019 it earlier announced.


Insurance recapitalisation deadline now October 1 – NAICOM




Mr Rasaaq Salami, NAICOM’s spokesman, made the confirmation in an interview with the News Agency of Nigeria (NAN) in Lagos.
NAN reports that the confirmation was sequel to doubts expressed by some players in the industry on the adjournment of the recapitalization date.
The backdate means that operators only have one month and two days to recapitalize,’’ Salami said.
The spokesman said it was imperative for the commission to shift the date in order to re-position the industry for unbeatable performance in the financial sector.
“The commission would not withdraw any license but only ensure that an underwriter has adequate capital to absorb risks,’’ he said.
Salami said after the first guideline on recapitalisation implementation was released in July, the Federal Government through NAICOM issued a new circular dated Aug. 14.
The circular according to him, the circular mandated all insurance companies to recapitalise and communicate to NAICOM the tier they intended to play in before Oct. 1.
Salami said that only companies that meet the respective tier requirements shall lead on new businesses in those categories with effect from Oct. 1.
“Companies shall be assessed, in the first instance, on their approved financial statement for 2017, and audited half year account for 2018.
“However, where a company is yet to obtain approval for its 2017 financial statement, its last approved audited accounts will be used for the assessment,” Salami quoted the statement from circular as saying.
NAN reports that underwriters interested to play in the tier 1 category are expected to increase their capitalisation from N5 billion to N15 billion.
The underwriters interested in the same tier but currently operating Life business are mandated to upgrade their capital base from N2 billion to N6 billion.
The Non-Life Insurers that wanted to play in the tier are expected to improve their capitalization from N3 billion to N9 billion.
While Composite Insurers willing to operate in tier 2 are expected to increase their capitalization to N7.5 billion.
Life Operators under tier 2 category are expected to increase capitalization to N3 billion.
However, for insurers willing to play in the lowest tier, which is tier 3, they are expected to maintain the current capital base of the insurance industry.Non-Life Insurance Firms in tier 3 is to maintain N3 billion; Life Insurance Operators to maintain N2 billion and Composite Insurers are to maintain N5 billion capitalization.

JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE




Are Insurance Products hard to sell?

;


Concerted efforts from different quarters to get Nigerians to appreciate the benefits inherent in the sector, seem not to have achieved much, as a recent survey showed that over 86 million Nigerians don’t have any form of insurance cover. BANKOLE ORIMISAN writes.

Are Insurance Products hard to sell?


Insurance business remains unviable and its products hard to sell in the Nigerian market place. This unpalatable news raised worries for the captains of industry, who gathered at just concluded 2018 Insurance Industry Consultative Council (IICC) in Abuja, few weeks ago.They described the challenge as “bad message” in the ears of insurance companies and allied stakeholders, given the fact that the industry has been in existence in the country for nearly a century.
Although the desirability of insurance policy has always been a hotly debated issue, a new study does appear to have driven the message home: “More Nigerians won’t and don’t intend to take up any form of insurance cover if given the choice.”
Outcome of new study
The available records in the industry indicate that 86.6 million Nigerians have no form of insurance, while 1.3 million adults, representing 1.5 per cent of the entire Nigerian adult population, maintain some category of formal insurance cover.While the jury is still out contesting the veracity or otherwise, of the survey, which has shown that the nation is probably recording a recurring decimal in the insurance sub-sector as a result of diminishing patronage, a recent survey by NOIPolls, further underscored the situation, saying that nine out of 10 Nigerians do not have any form of insurance.
According to the survey, among those that have insurance policy, 63 per cent has vehicle/car insurance, 20 per cent has life insurance, 17 per cent have property insurance, 16 per cent has health insurance and 16 percent have fire, burglary and travel insurance.Also, few years ago, a survey by Enhancing Financial Innovation and Access (EFInA) indicated that Nigerians are not insured against the most vulnerable risks- life, health and agriculture, adding that death and ill-health are the top two risks, with an economic impact, but the most widely experienced.
Growing apathy 
It is anybody’s guess why there is growing apathy for insurance by Nigerians. While giving plausible explanations as to why many Nigerians don’t consider acquiring an insurance cover as a priority, the Founder/Chairman of Zenith Bank Plc, Jim Ovia, during an interactive session at IICC conference in Abuja, affirmed that a number of factors were responsible.
The major hiccup, which is responsible for the growing apathy for insurance, according to him is the low level of disposable income. “The only problem we see in the Nigerian market is that per capita income of the people is very low and people tend not to take insurance as a priority against other things related to them,” he said.He, however, said it was heartening to note that the Federal Government has made group life insurance compulsory for all employers of labour, with a minimum of five employees. The banker said there has been a turnaround in the fortunes of that class of insurance business.“I believe with the improvement in income, regulation and other things, many people will come to take insurance and gradually, we will get an increased participation by the insuring public in the country.
“Again, with the awareness campaign being embarked upon by the regulator, the Nigerian Insurers Association and some industry players, showcasing the need for individuals to be protected and have life insurance cover for their own benefit and the benefits of members of their families, I believe in the next five years, there will be a turnaround in the way and manner people take up life insurance in Nigeria.
“With the coming of retail businesses set up by the various underwriters and microinsurance, this awareness will get to the people at the grassroots and they will embrace insurance as a way of life. Despite the low per capital income, there should be an increase in the rate at which people patronise the insurance industry,” he said.
What NAICOM is doing
To revamp the insurance sector, the National Insurance Commission (NAICOM) had in the past, come up with a number of measures, including raising the capital base of insurance companies in line with current economic realities.Commenting on the different initiatives by NAICOM, which is the apex regulating body of the sector, the Chairman, Planning Committee for the 2018 IICC Conference, Alhaji Femi Hassan, said the commission under the headship of Mohammed Kari, has not done badly thus far.
“NAICOM is currently doing very well. The commission has been coming up with good regulations that are now moving the industry forward. All that is required is continuous cooperation among the members of the Nigerian Insurers Association, so that we can be united and able to turnaround the image and fortunes of the industry in Nigeria,” he said.
Besides, NAICOM has introduced the Market Development and Restructuring Initiative (MDRI), retail insurance, microinsurance, compulsory insurance and others.
Hassan said: “There are lots of things being done to make the people aware of what they stand to gain by taking insurance. It is not something that will automatically impact on the industry immediately, but overtime, the impacts will surely be felt.
“The MDRI revolution has been on ground for years now, and in the next few years, all these things would have come to pass as people will now have more knowledge about insurance. The industry is also trying to create more insurance awareness through advert placement and by sending people to the grassroots.”In line with the Insurance Act 2003, NAICOM introduced the “no premium, no cover”, all aimed at not just improvement in the industry but to achieve integrity and quality of income generated by the industry.


JOIN OUR SUPER ACTIVE TELEGRAM GROUP HERE..[email protected] GROUP WORLDWIDE

Popular Posts