Moh’d Kari and the challenge of sanitising the insurance sector

Cleaning the augean stable in any society, sector, domain or country is an arduous task. This is so, because in most cases, corruption usually fights back and when it fights back, it fights vigorously in a bloody manner such that the reputation and good name of whoever is involved is not given the slightest thought.

 

Mr. Moh’d Kari, the Commissioner of the Nigeria Insurance Commission (NAICOM) is at the centre of this essay. Having worked as his staff at Unity Kapital from March 2009 to Feb 011, I have a first-hand view and knowledge about his person. He is undoubtedly one of Nigeria’s finest insurance experts with a deep insight into the problems bedevilling the sector and he has the required mettle and wealth of experience to bring to the fore the needed solutions to tackle the issues facing the insurance industry in Nigeria.

 

Since his assumption of office, Kari has not rested on his oars to sanitise the insurance industry. As the Deputy Commissioner in NAICOM, his first task was the signing of a memo to prohibit illegal payments hitherto seen in the sector and on his appointment as Commissioner in 2014, he enforced the code of corporate governance which was issued in 2009 but was not enforced. He has also been able to reach an advanced stage for the re-launching of the MDR (Market Development and Restructuring Initiative) with the aim of turning around the insurance industry in becoming the insurance hub of Africa.

 

Despite the organised sabotage by insurance companies and other ignorant elements of the labour union, he has put a lot of order in sharp practices bedevilling procurement of insurance in the public sector. There are too many leakages of insurance premium in respect to insuring government assets. He has put in place adequate structures to ensure transparency.

 

Just recently, Mr. Kari has had a running battle with insurance companies and brokerage firms in the country, through blackmail and targeted character assassination, for not pandering to their wishful motives and illicit demands. Furthermore, there has been a calculated gang up against him in the media by these powerful interests, with active connivance from labour groups, for not succumbing to their demands. They have subjected him to “media trials” for his refusal to capitulate and dance to wishes of the cabals in the insurance industry.

 

However, these powerful interests do not only have huge resources at their disposal, they deploy it in connivance with a section of the media and labour union to fight back his efforts to fight and sanitise the insurance industry of corruption. This has not only created a snag in this administration’s fight against corruption but has also dented the country’s image in the eyes of prospective investors and the international community in general. Even with Mr. President’s strong body language against corruption, these powerful interests in the insurance sector seem not to be bothered but get emboldened at this level because of the absence of a strong character to stand up to them and deny them the business-as-usual methods they are accustomed to.

 

With Mr. Moh’d Kari and the support of Mr. President, we have a strong advocate of honesty, probity, dedication and excellence to purge the cancer in the system and drive the insurance industry to greater heights.

 

Alwan Hassan