Concern staff petitions Presidency over irregularities in NAIC
By Williams Ayooso
A group of concerned staff have petitioned President Bola Tinubu on what they describe as abysmal state of affairs as well as gross incompetence in the managerial process in the Nigeria Agricultural Insurance Cooperation, NAIC.
The Petition which hammered on sensitive administrative irregularities and ineffective management that have culminated in running the Corporation aground was signed by Abdulquadri Olayiwola on behalf of the concern staff of the corporation.
The organization’s purpose is to provide agricultural insurance services to farmers, agro-allied businesses, and other stakeholders in the agricultural sector. To achieve its goals, NAIC requires a team of professionals with expertise in banking, insurance, agriculture, and allied sectors. Such managerial staff should possess technical skills like agricultural knowledge, insurance principles, actuarial skills, data analysis, and risk management. A situation that the staff said it is lacking in the present leadership composition of NAIC.
“It is disconcerting to observe that the current leadership of the organization is misallocating its energies. Rather than addressing substantive issues, the management is preoccupied with pursuing frivolous matters and engaging in unwarranted witch-hunts.” The letter said in part.
The Staff wondered why the present leadership of the corporation is prioritizing frivolous sensitization programs, needless contract awards and personnel decisions that compromise the organization’s integrity, against providing financial compensation for losses due to natural hazards, facilitating credit access for farmers, and promoting best practices, which is the core mandate of the organization.
Other concerns which the staff have expressed, includes: lack of transparency and accountability in the recruitment process, hardship faced by staff as a result of salary payment delay and irregularities, lack of merit-based decisions, high level corruption, non-compliance with the required statutory Solvency Margin, among others.
In the lack of transparency in the recruitment process, the staff cited an instance where the Managing Director, and Chief Executive Officer, Chief Executive Officer, Folashade Joseph threw sanity to the wings and recruited her lawyer friend, one Mrs Kamila K. Kida, as her proposed successor, without recourse to laid down procedures and guidelines establishing the corporation.
“The organization needs to prioritize merit-based appointments and ensure that the leadership reflects the values of integrity, fairness, and professionalism. The staff’s suffering due to delayed salary payments is unacceptable. Ultimately, it’s crucial to restore transparency, accountability, and good governance at NAIC to prevent further corruption and ensure the organization serves its purpose.” The save our soul letter of the staff reads in part.
The staff also caviled a situation where Managing Director and Chief Executive officer’s abuse of power has been exacerbated by the Supervising Minister’s failure to implement the statutory provision for the composition of the Board of Directors as outlined in Part 1 of the NAIC ACT.
The staff expressed concerned over witch-hunting of staff that are raising up their voices over the Managing Director’s chain of irregularities.
“Following a union dispute that garnered the attention of the Minister of Labour’s office, a negotiated peace agreement was reached. However, the management subsequently disregarded this agreement and implemented punitive transfers targeting staff members who had voiced their concerns.
“Regrettably, these transfers were made without consideration for the affected staff members’ skills, competencies, or the lack of suitable replacements. This decision not only undermines employee morale but also jeopardizes the organization’s overall effectiveness.” The concerned staff stated in their letter to the Presidency.
“The irregularities, lack of compliance to guidelines and corruption tendencies of NAIC under the present leadership also caught the attention of the National Insurance Commission (NAICOM). In a letter dated March 12, 2025, addressed to the Managing Director/CEO, NAIC, NAICOM expressed concerns about the corporation’s financial status, specifically highlighting non-compliance with the required statutory Solvency Margin.
“The regulatory body noted that the corporation’s going concern is increasingly doubtful due to its financial situation. Consequently, NAICOM mandated the corporation to: Make a cash payment: Deposit funds into the company’s account within 60 days. Submit a Turnaround Plan: Communicate a comprehensive plan to address the financial concerns within 21 days. This development underscores the premise of our agitation that NAIC is practically in the wrong hands at the moment.” The staff revealed.
To restore the lost glory of the organization staff appealed to the presidency to prioritize competence-based appointments, transparency in the selection process, and embark on a transparent and rigorous selection process to identify the most qualified candidates for the Corporation.
