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“Retirement in Nigeria” Why I’m Advocating For Senior Citizens -Felix Amadi
The Chairman of Crown Insurance Brokers, Chief Felix Ohiri Amadi has enjoyed a successful career spanning over three decades in the insurance sector of the economy, having worked closely in chatting lasting solutions towards pension management, he knew exactly what the senior citizens go through after their active service years in accessing their pension benefits, the challenges of retirement age and reasons why people fail to plan for their old age. In his new book, Retirement in Nigeria, Amadi sought to highlight the need to build a robust retirement sector, where professionals would be trained on the intricacies of managing and caring for the aged. He recently engaged the media on why he embarked on the project, “Retirement in Nigeria”, his insurance career, amongst other sundry issues. Enjoy the excerpt
How has it been with Crown Insurance Company during this time of the pandemic?
Crown Insurance Brokers Limited is a company that has been in existence for over three decades. We have had very good times and difficult times such as this season and it has caused us to scale down our operations at the moment in other to cope effectively during this challenging period.
How well has Crown Insurance been able to fair in the insurance sector of Nigeria since its birth?
There is no Federal Government Institution that Crown Insurance hasn’t managed either full or in parts from MPC, MPA, Police, Custom, DSS and much more. We have been part of their management over time and we have also managed some private institutions like Shipping companies, Oil and Gas companies, too numerous to mention. So, Crown Insurance Brokers Limited can be taken as one of the elite insurance companies in Nigeria. Our records are intact and the reference about us can be obtained from the Nigeria Corporation of Registered Insurance Brokers (NCRIB).
With all the successes you’ve enumerated, it shows you’ve done well in the sector; what defines a good insurance company?
Insurance is a major aspect of risk management, whether it affects an individual or organization. Every insurance organization that cannot define the risk of an individual or the organization in a long term may not succeed because risk, if not properly managed to a long term can lead to a major hazard for either the individual or organization involved. Anybody that is managing another person’s risk and fails to define it well cannot have a lasting relationship and if an organization can’t keep a relationship then it will fail when its backups disengage. For the insurance companies that have succeeded, it means they’ve been able to define their client’s risks in a long term and have followed the procedures religiously.
What are the challenges of running an insurance company in Nigeria?
The challenges here aren’t different from the challenges of most other organizations. Economy is looking south and it’s been like this for some time that makes every organization that wants to remain in place to indulge in difficult management. Insurance as an area of endeavor is not considered most of the time as important as health and stomach care, so issues of risk management is put after the Medicare which is basic because people cannot combine them, even when they are aware they need it, the basics comes first. Historically, insurance in Nigeria hasn’t enjoyed deep penetration even with our efforts to create awareness and cause people to accept it.
What is the high point of your career as an insurance broker?
Well, over the years I have managed many public and private accounts and I have managed them veritably, it is difficult for me to single out one as the high point. When I was called by the Federal Ministry of Defense to review Military Pension as it was in serious crises; a lot of destitute were hanging round Ikoyi, claiming they were ex-soldiers who were waiting for their benefits so T. Y. Damjuma and Mrs. Delaja felt there was need to look critically into the reason the soldiers who claimed to be retirees were not being paid. That was where I was called to improve the management of retired soldiers in Nigeria. In 2015, Crown instituted what may have become the biggest Group Life Insurance Scheme other than the Omnibus scheme that is managed by the Head of Service in the Department of Security Services (DSS). That scheme has the signature Crown Insurance and it is one of the finest insurance schemes running now in the country. There are much more achievements to count regarding my high points in service.
If you weren’t an insurance broker what other business or career would you have ventured into?
I would have loved to retire as a professor; I would have functioned well as an intellectual. When I graduated from the University of Lagos, Akoka at the age of 23 the University enlisted me for post graduate studies in Colombian University, somehow I preferred going to work in other to support my younger ones, that was how I diverted my career in the world of academics. Before I decided to quite my dreams, I had calculated that at the age of 27 I would’ve gained my PH.D and if I kept working hard as I did at that time, I foresaw myself as a Professor at the age of 35/36 but all that didn’t happen because I diverted from it.
Some time ago you had a stint in politics, what was your intention when you delve into it then and currently are you still nursing political ambitions?
My sojourn in politics is still work in progress. When you see some people in the corridor of power in Nigeria, you’ll feel that they don’t have the indebt of love that is required from the leaders in a nation. Unlike some serious minded professionals that have attempted politics who go there to assist because they’ve seen some loopholes they think they can fill-in in order to move the country to a better place that was the motive that made me become a politician. I joined a political party, I was an active member of the party and secured a ticket to run for the senatorial seat of Imo East where I come from; I didn’t win but everybody says I made a very huge impact. You know that once you attempt a political position in Nigeria you are likely to sacrifice a lot of your personal savings so it’s not that I have quit politics but I am waiting to see my like minds come together to form a critical movement so that the country can be safe. If you are a reasonable human being in Nigerian politics and you have to go against fifty rascals out there, you cannot maneuver them; they’ll deal with you and make you seem useless. Our prayer is that more mature minds, more professionals and more of the ones that has the good of the country at heart should come up and work together to make this country a better place.
As 2023 approaches, do you have any intention of coming out for an elective position and are you one of the people clamoring for Igbo presidency?
I have no such plans now and it is too early for one to come out and start telling what will happen in three years’ time. Instead of clamoring for either Igbo, Hausa or Yoruba president pray that only a person suitable for the position will come and let’s advice those in government starting from the local government that politics isn’t about getting rich in government and gaining firm and power. Let them understand that politics is about governing the people with good will. All the people that think about how to win the next elections at all costs are the traditional politicians who have nothing to offer and I am not one of them.
Talking about groups like minds and professionals, few months ago, Pat Utomi, Olisa Agbakoba and others came together to form a coalition for 2023, what’s your take about such moves and would you embrace their idea?
Of course their ideas are good, more people should join them. They aren’t forming a political party; they are uniting to realize what’s in the best interest of the people, people like them are good people. Anybody who has intention in just willing and dealing is making a mistake because at the end of the day there might not be a country for them to continue to deal if they don’t protect the one at stake now.
Generally speaking Sir, what’s your assessment of the Nigerian political space?
A lot of improvement is needed. There are good people but I would say that they are in the minority, the job is to bring more people that are ready to save Nigeria and impact the people in a way that will benefit the country’s future; people have to forget about the old ways of becoming a billionaire without lifting a finger. Let them bring in people that will make impact in a way that the future generation will look back and say “but for this people”, that’s the way forward.
You’ve done well with your new book, Retirement in Nigeria; can you talk about it?
Retirement is one of those areas that are still lagging behind particularly from the point of view of those that are retired and aged. You don’t need to stretch your neck to have a view of those who are suffering because they have not received their retirement funds from either the state or local government. So there is need for our government to champion the cause of these suffering senior citizens, they say little or nothing about it and it’s bad. I embarked on retirement management research for the reason of the suffering retirees; the same thing I realized when I was called to manage the military retirement. If you go through the whole of Nigeria you’ll see that there is no solid literature that can be used as reference or capacity building in terms of retirement so I decided to write about it.
No one talks about retirement till death and for one to be able to manage retirement in order for old people not to suffer it has to be well planned; between retirement planning and retirement management the time has come for further research for people both in the higher institutions and professional institutions to be trained for proper clarification so that when they are confronted by retirees or workers either as consultant or employees of Retirement Management organization, they would be adequately prepared.
Federal Government has done well through the Obasanjo regime that saw the decay in pension management and they put together in a reform act in 2004, now successive governments have been managing pensions based on the reform principles yet no refunds are needed, the states and local governments have to look into the affairs of pensioners in their areas. What affects a part of the country affects everywhere so they have to begin to take issues that concerns pensions seriously.
I do not want to review my book, let others do it for me but it covers a lot. The Retirement Management Industry has come, research is seriously needed in this area; we have Pediatricians everywhere who take care of babies but a lot of old people need care, they need a special hospital not General Hospital.
Look carefully, you’ll discover that the traditional system of children taking care of their parents has collapsed. The reason is the world is now a global village and your child can decide to go and live in another country; while you as the parent is here in Nigeria. All the child can do is send money to you and money can’t take care of an old parent but if there is a professional who has passion and ethics governed by the profession will take care of you and get paid.
An aged person doesn’t need money but care, but such things are lacking in this country and it’s in this book I’ve written. If you look around the entire world, countries that have the size and economic capacity of Nigeria all have elderly people whether they have worked or not, they collect a certain amount of money for their care but we don’t have that here and advocacy is needed. We don’t have so many elderly people in Nigeria who live beyond 70 and 80 years because of suffering, let this people live and be happy; let them not die cursing the government and the system. This book will help those that are making laws on social securities to begin to re-examine current positions to make amends where necessary so that those who will be managing pensions will manage better and those who will receive pensions will be happy and be thankful to the government.
What challenges did you face in putting up this massive volume of write-up “Retirement in Nigeria”?
Writing a book first of all needs a clear motivation. It is the motivation that guides and being that I’ve encountered a lot of retired people both as a consultant and individually, I know a lot of what they go through. Once you have motivation and you decide to do a thing out of your busy schedule you’ll create your time for passion because it is what you want to do properly not because of money but for impact and education; though it cost me time and money but for the sake that I wanted to do it and here it is ready to be presented to the world.
How soon should we expect the book on the shelves?
We delayed the public presentation because of the Covid-19 challenges but now we know that social distancing is the new order for safety so we’ll soon with safety measures adequately put in place present it to the general public.
President Bola Tinubu will depart Abuja on Sunday, October 12, for Rome, the capital of Italy, to participate in the Aqaba Process Heads of State and Government Level Meeting, with special focus on the security crisis in West Africa.
The meeting, which will begin on October 14, will bring together Heads of State and Government, senior intelligence and military officials from African countries, and representatives of intergovernmental and non-governmental organisations to discuss the evolving security challenges in West Africa.
The Aqaba Process Meeting is a counter-terrorism initiative launched by King Abdullah II of Jordan in 2015. It is co–chaired by the Hashemite Kingdom of Jordan and the Italian Government.
It recognises the complex security challenges confronting West Africa, including the expansion of terrorist networks, the growing crime-terror nexus and the increasing overlap between land-based terrorism in the Sahel and the maritime piracy in the Gulf of Guinea.
At the meeting, participants will exchange assessments of the current security landscape in West Africa and foster collaboration between regional and international partners to address cross-border security challenges. Participants will also develop strategies to counter the terror threat on land and the sea.
The meeting will discuss ideas on how to coordinate efforts to combat online radicalisation and disrupt digital networks that facilitate terrorist propaganda and recruitment.
In addition to attending the plenary sessions of the Aqaba meeting, President Tinubu will hold bilateral talks with other leaders to explore ways of addressing the rising security challenges across the subregion.
The President will be accompanied by the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu–Ojukwu, the Minister of Defence, Mohammed Badaru Abubakar, the National Security Adviser, Nuhu Ribadu, the Director-General of the National Intelligence Agency (NIA), Ambassador Mohammed Mohammed, and other senior government officials.
…..Gov, lawmakers, party executives exit party enmasse
……Uncertainty over Suswam’s, ex-NAFDAC boss’ defection in Benue
…….PDP kicks, says govs being intimidated, coerced to defect
……Put your house in order, we’re not architect of your woes – APC
In a manner reminiscent of the defections that occurred in Delta and Cross River states earlier in the year, Governor Peter Mbah and all elected and appointive officers of the state are set to formally defect from the PDP to the All Progressives Congress (APC) on Tuesday next week.
The newly inaugurated Enugu State APC Caretaker Committee Chairman, Dr. Ben Nwoye, confirmed the development to newsmen at the APC National Secretariat in Abuja after taking the oath of office yesterday.
He made the disclosure during a press briefing by the newly inaugurated Enugu State Caretaker Committee.
Describing Mbah’s defection as the dawn of a new political era for Enugu and the Southeast region, Nwoye said the governor’s coming into APC would be “a merger between transformation and renewed hope.”
“For the past 10 years, Enugu State has remained in opposition. But all that ends on Tuesday when Governor Peter Mbah declares for the APC. And he is not coming alone,” Nwoye said.
According to him, the defection will signal a “historic alignment” as Mbah will be joined by 260 councillors, 24 state lawmakers, National Assembly members, and the entire state executive council—an unprecedented political realignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“Where Enugu goes, the Southeast goes. This marks the beginning of the Southeast’s political reawakening and full integration into national politics,” Nwoye said with a tone of confidence.
Commending the Governor Mbah’s performance in his last two years in office, Nwoye, who was the founding state chairman of the party, noted that his economic and infrastructural reforms had elevated the state to one of Nigeria’s top-performing states in internally generated revenue.
He added that the synergy between Mbah’s Transformation Agenda and President Tinubu’s Renewed Hope Vision would accelerate development and economic growth across the Southeast.
APC National Chairman, Prof. Nentawe Yilwatda, who inaugurated the seven-man caretaker committee for the party in the state, had earlier hinted of moves by the APC to strengthen its foothold in the Southeast.
The APC chairman charged the new Enugu leadership to consolidate the shock defection into a “lasting political conquest”
“APC is home for all. The person who came yesterday, today or tomorrow has equal rights.
Nigerian government services
Private refinery investment Nigeria
Digital trade agenda investment
“Our goal is simple: to expand, to win, and to deliver overwhelming victory in 2027,” Yilwatda said.
APC’s Deputy National Chairman (South), Emma Eneukwu, who is from the state, said the political development in the state marked the return of the Southeast region to national relevance.
“We will no longer play second fiddle. With Enugu in APC, the Southeast has found its voice again,” he declared.
Uncertainty over Suswam’s, ex-NAFDAC boss’ defection in Benue
There were strong rumours yesterday that Suswam, Orhii who currently serves as a member of the House of Representatives representing Agatu/Apa Federal constituency, Hon. Ojema Ojotu and former Benue North East Senator, Prof. David Iornem were set to join the APC in Benue State.
This was in spite of a statement issued by the media aide to Suswam dispelling the rumour that his boss had defected from PDP to the ruling party.
Banners and signposts announcing their official defection and pre-decamping dinner adorned major roads and streets in Makurdi, the state capital, yesterday.
It is the first time Suswam would defect to another party since joining politics in 1999.
The black cat, as the former governor is widely known first won an election to represent Katsina Ala, Logo and Ukum Federal Constituency in the House Representatives on the platform of the PDP.
After eight years in the House of Representatives, he was elected the governor of Benue State for another eight years also on the platform of PDP.
His first bid to go to the Senate, however, ended in a fiasco as he lost the election. He, however, made a second bid and won election into the Senate.
He had remained in PDP even after losing his re-election bid until yesterday when the news of his defection broke.
There was jubilation from Suswam’s massive camp of supporters yesterday on hearing that the former governor had defected to APC.
In Anyiin his country home and Ayilamo settlement, there was dancing and singing throughout the day, with shouts Dom Agya as Suswam is known in his ancestry home.
At press time yesterday, he was locked in a meeting with his supporters.
Our correspondence learnt that the meeting was meant to deliberate on the date for the defection ceremony.
But the media aide to Senator Suwswam, Bede Bartholomew, yesterday denied the claims that his boss had defected to APC.
Bartholomew however admitted that Governor Hyacinth Alia two days ago extended an invitation to Suwswam and other leaders for a banquet with him at Government House Makurdi.
A press statement he signed and made available to our correspondent yesterday reads: “Moments ago, I received telephone calls from well-meaning Benuelites and leaders alerting me to trending news on Benue’s social media space purporting that the former governor of Benue State, His Excellency Senator Gabriel Torwua Suswam, is set to defect to the All Progressives Congress (APC) today and would be received by the Governor of Benue State, His Excellency Governor Hyacinth Alia, this evening at the Banquet Hall of the Benue State Government House.
“I debunk this unholy rumour with all vehemence as it doesn’t represent the current interests of Senator Gabriel Suswam or that of his supporters across the state and should be treated as a mere rumour and that’s all.
“What I know is that two days ago, the Governor of Benue State HE. Rev. Fr. Hyacinth Alia respectfully extended an invitation to Sen. Suswam, among other stakeholders, expressing his desire to attend a State Banquet slated for 10th October, 2025.
“It should be noted that as a former Governor of the State, Suswam is a stakeholder in the Benue project, thus his reason for accepting the invitation.
“There was no indication in the invitation letter that it was a political event or a decamping ceremony whatsoever.
“The former governor advises his supporters and well-wishers to disregard this rumour as it is baseless, aimless, and a lie from the deepest pit of hell.
“Suswam appreciates everyone who called in for further enquiries and concerns and wishes everyone a happy weekend ahead.
Defections: Blame no one for your woes, says APC as PDP kicks
The ruling All Progressives Congress (APC) yesterday took a swipe at the Peoples Democratic Party (PDP), accusing the opposition party of being responsible for its woes as more of its members are dumping it for the governing party.
This came on the heels of plans by the PDP governor of Enugu State, Peter Mbah, and the entire elective and appointive officers of the state to defect to APC on Tuesday.
The PDP had on Thursday blamed the wave of defections from the party on APC, accusing the ruling party of engaging in intimidation and coercion of its elected members.
National Publicity Secretary of the party, Debo Ologunagba, while reacting to reports of the planned defection of some governors elected on the platform of the party to the APC, accused the ruling party for its misfortune.
“The APC is orchestrating all of this through intimidation, through coercion, through blackmail,” he said.
But APC National Publicity Secretary, Felix Morka, waved off the PDP allegation, insisting that the opposition party was only crying over a self-inflicted problem.
Dismissing the PDP allegation, Morka said: “The PDP continues to ridicule itself by the boring, repetitive and baseless claim that APC is, somehow, intimidating or cajoling its governors and other senior members to dump their wreck of a party.
“The PDP is the sole maker of its own political predicament. The party is only harvesting well-deserved adversity from decades of political recklessness, mindless corruption, ruthless desecration of democracy, disgraceful failure of leadership, and destructive impunity that characterised its existence.”
Justifying the defection to APC, Morka argued that “the governors and members that are dumping the party in their numbers are doing so in exercise of their free democratic will, and wisely so, to mitigate against the devastating fate that Nigerians will deal the party in the upcoming 2027 elections.”
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Update : Police Arrest Armed Robbers Allegedly Involved in Death of Arise TV Anchor, Somtochukwu
Police arrest armed robbers involved the killing of Somtochukwu Maduagwu
There are indications that 12 of the armed robbers involved the operation leading to the death of Arise News anchor, Somtochukwu Maduagwu have been arrested.
Somtochukwu Maduagwu, an anchor at Arise TV News panicked and jumped to her death after heavily armed robbers besieged her Katampe Extension home in Abuja.
It was reported that the robbers numbering about 15, well-armed, upon arriving the 18 blocks apartment estate, split themselves into groups and began robbing from flat to flat when 29 year old Sommie panicked and jumped down from her balcony to escape them before they arrived at her flat.
Our correspondence reports that attempts were made on the spot to revive her by a neighbor who gave her CPR before she was thereafter, rushed to the Maitama General Hospital where after trying to breathe life into her to no avail, the Doctors on duty declared her dead- on-arrival.
However, in a recent development, a Police EIB report released moments ago, indicates that 12 of the 15-armed robbery gang have been arrested by the Police in the Federal Capital Territory (FCT) Police.
Below is the EIB report released on Thursday…
Armed Robbers Involved In The Robbery That Led To The Death of Arise News Staff, Somtochukwu Maduagwu Arrested
According to the Police, the suspects are:
1. Shamsudeen Hassan ‘m’ from Malumfashi LGA Katsina state
2. Hassan Isah ‘m’, 22 years from Zaria kaduna State
3. Abubakar Alkamu a.k.a. abba ‘m’, 27 years from Musawa LGA katsina state
4. Sani Sirajo a.k.a. dan borume ‘m’ 20 years from Malumfashi LGA katsina state
5. Mashkur Jamilu a.k.a. abba ‘m’ 28 years from Igabi LGA kaduna state
6. Suleiman Badamasi a.k.a. dan-sule ‘m’ 21 years from Malumfashi LGA katsina state
7. Abdul Salam saleh a.k.a. na-durudu ‘m’ from katsina lga katsina State
8. Zaharadeen Muhammad a.k.a. gwaska ‘m’ 23 years from chikun lga kaduna state
9. Musa adamu a.k.a. musa hassan ‘m’ 30 years from malumfashi lga katsina state
10. Sumayya Mohammed a.k.a. baby ‘m’ 27 years from Sammaka LGA, Kaduna state
11. Isah Abdulrahman a.k.a. abbati ‘m’, 25 years from Zaria LGA, Kaduna state
12. Musa Umar a.k.a. small ‘m’ 31 years from Maiduguri LGA Borno state.
Shortly after the robbery incident, four (4) of the suspects shamsudeen hassan, alkamu, sirajo and one other person were apprehended through the tracking of phones stollen from the apartment during the robbery.
During interrogation, Shamsudeen Hassan confessed that he shot the security guard when he attempted to prevent them from gaining access to the apartment. Sani Sirajo confessed to have tried to hold Somtochukwu Christella Maduagwu from falling off the three-storey building but was overwhelmed by her weight. Shamsudeen further confessed that he drove the white honda CR-V jeep out of the apartment after the operation. The four suspects admitted that they each received ₦200,000 from the proceeds of the crime.
Recovered exhibits include:
One (1) fabricated ak-47 rifle
Thirty-six (36) rounds of 9mm live ammunition
One (1) locally made pistol
One (1) pump-action gun
Two (2) live cartridges
Four (4) mobile phones of the victims
Two (2) sharp knives
One (1) cutlass
Nine (9) torchlights used during the operation
In continuation of investigations, yesterday, 08/10/2025, acting on a tip-off and actionable digital intelligence also provided by us, the remaining members of the gang, Musa umar a.k.a. small, Hassan Isah and other accomplices involved in the Gishiri robbery were intercepted while enroute to an already planned armed robbery operation scheduled to hold at maitama in the early hours of this morning.
All suspects have confessed to the crimes, investigation is ongoing.
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