By Kolawole Abe The available contractual documents and recent court proceedings in the dispute over No. 68 Molade Okoya Thomas Street, Victoria Island, Lagos, appear to lend significant weight to the position of the original property owner, Dr. (Mrs.) Maryam Sani Abacha, that the property was entrusted to Levitikal Realties & Construction Limited strictly to develop 18 units of three (3) bedroom apartments and was never transferred to Levitikal as its unrestricted commercial asset. Under the agreement, nine completed apartments were to accrue to Levitikal as consideration for undertaking the development, while the remaining nine were to be retained by the landowner. Upon completion of the project and by the terms of the JVA, Mrs. Abacha will execute and sign Deeds of Assignment in favour of Levitikal or its nominees only for the nine units due to Levitikal under the agreement. Since there is a dispute on the development, it therefore means that any purchaser will have to wait unti...
By Abua Hunde For years, Nigeria’s insurance industry has occupied an uncomfortable position in the national economy. Its importance has never been in doubt, yet its enormous potential has remained largely untapped because of weak public confidence, low penetration, concerns over claims settlement and the limited financial capacity of some operators. But since his appointment as Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM) in 2024, Olusegun Ayo Omosehin has brought a renewed sense of purpose to the regulation and repositioning of the sector. Omosehin did not come to NAICOM as a stranger to the insurance business. With more than three decades of experience, he has worked across different segments of the industry and occupied senior leadership positions at Crusader Insurance, Custodian & Allied, Admiral Insurance, AIICO General Insurance, Mutual Benefits Assurance and Old Mutual Nigeria Life Assurance. He also served as...