Capital Market Finance

Insecurity scaring investors from Nigeria –NCRIB  

The Nigerian Council of Registered Insurance Brokers (NCRIB) has bemoaned the growing rate of kidnapping and other forms of violent crimes in the country, lamenting that the development is frightening investors away from the country. The President of the Council, Bola Onigbogi, said this recently at the Council members’ meeting in Lagos. Onigbogi stated that since there is a correlation between insurance and economic growth, it is most auspicious for the NCRIB to join its voices to call on the government to put in more efforts to combat security challenges in the country.

“There is hardly a day that passes by without reported cases of kidnapping, killing, terrorism and other criminal cases that are fast making our country dreadful to live in.

“This has reached a preposterous dimension and is adversely affecting the pace of economic growth as genuine foreign investors are scared of putting their money into the economy.

“We are using this medium to call on the Federal Government to overhaul its security apparatus while at the same time enhancing collaboration with governments and institutions both within and outside the country to put an end to this menace.

“It is expedient to eulogise the Federal Government on its decision to change all the service chiefs, we enjoin the newly appointed service chiefs to brace up to the challenge and ensure the challenge of insecurity is tackled head-on. We also like to reiterate that the role of education and prompt information in tackling insecurity cannot be undermined,” the President said.

She advocated repositioning of the National Orientation Agency (NOA) to conscientise Nigerians continually on the need for them to be their brothers’ keepers by breaking down belief systems, be they religious or cultural, militating against peaceful coexistence and sanctity of human lives.

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