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Why Our Endowment Life Insurance Policy is Different From Others—AXA Mansard

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AXA woman Abisola Nwoboshi

In this interview, the Group Head of Life Business at AXA Mansard, Ms Abisola Nwoboshi, discussed the latest insurance package from the company.

AXA Mansard recently launched the Endowment policy, can you tell us more about the product?

Again, the Endowment policy is another testimony of our commitment to our customers. Over the years, we have found that people are averse to insurance because they think it takes from them without giving back when they are alive.

However, we know that life insurance can make a huge difference in the event of the loss of a loved one.

Consequently, we went back to our drawing board and created this policy called Endowment, which gives the benefit of target savings and life assurance in one plan.

We designed a policy that can be likened to eating your cake and having it because we know that both saving for tomorrow and having life insurance are important to our customers.

Our Endowment plan is a two-in-one policy that provides you with life insurance coverage, helps you save money regularly and pays out a lump sum when your policy term ends. It also offers a death benefit in the event of demise during the policy period.

Ultimately, if you have a goal you would like to save towards, this policy allows you to save, and if you want financial protection for your loved ones as well in case of death, you don’t need a separate plan.

How is this policy different from other life insurance policies in the market today?

This policy is designed with your needs in mind, offering a blend of life insurance and a savings plan. Traditional life insurance often only pays out if death happens to you, which can feel limiting. Our Endowment policy is different because it ensures you receive the full sum assured at the end of the term, even if you’re still alive and well.

We wanted to create a policy that offers peace of mind no matter what. With this policy, you get a guaranteed return. Whether it’s providing a death benefit for your loved ones or receiving an endowment payout yourself, you’re assured of getting something back if the premiums are paid.

We also understand that flexibility is important. That’s why our policy allows you to adjust the premium payments, policy duration, and benefits to fit your unique needs. We curated the endowment policy with the aim of giving you the security and adaptability you deserve, making sure it truly works for you in various life situations.

AXA Mansard is known for its innovation in policy development, but more important is its deep interest in ensuring it solves problems for customers; can you tell us about the gap AXA is bridging with this new product?

Great question. We saw a need to encourage disciplined long-term savings and provide financial security. This policy addresses both by offering a structured savings plan and ensuring that there’s a guaranteed sum for your loved ones in case of an untimely death. This way, we help cushion the impact of losing a provider, which is the primary goal of life assurance.

There are two variants of this product; can you tell us more about it and who should be taking what?

Absolutely! We’ve designed two variants to fit different needs: the AXA Endowment Plan and the AXA Anticipated Endowment Plan. Both plans are there to support you and your loved ones, but they cater to different financial goals.

The AXA Endowment Plan is quite straightforward. It offers terms of 3, 5, 10, and 15 years, with a lump sum payout at the end of the policy term. It’s a great option if you prefer to receive all your benefits at once after a set period.

On the other hand, the AXA Anticipated Endowment Plan provides more flexibility with payouts. It spans 6, 9, 12, and 18 years, and gives you payouts at intervals: 20% after one-third of the term, 30% after two-thirds, and the remaining 50% at the end. This can be helpful if you have different financial goals along the way or need access to funds at various stages.

Ultimately, the choice depends on what variant works best for you. If you’re looking for a single lump sum at the end of your savings period, the Endowment Plan could be ideal. But if you prefer getting payouts at different times to meet various needs, the Anticipated Endowment Plan might be the better fit. We created these options to make sure you have the flexibility to choose what suits your life best.”

A lot of people would rather save for a future date, than buy a life insurance plan; why do you think this notion is growing and how can we further emphasize the importance of life insurance in Nigeria?

People often hesitate because thinking about death is uncomfortable. It’s natural to focus on positive goals and saving for the future. However, it’s also essential to ensure that your loved ones are protected if something unexpected happens. Life insurance is about mitigating the financial impact of death, making sure that dependents can continue without severe financial strain. Our goal is to make people see that both savings, and life insurance are crucial parts of a solid financial plan.

As you know, lack of information is still an issue with insurance in Nigeria; can you share with us how the endowment policy works?

I wouldn’t say lack of information but more around trust and understanding. Many people worry that they won’t get anything back if the insured risk doesn’t happen. The question of “What happens if that risk does not occur? Do I get anything at all? What of all the money I’ve contributed over the years?” Now this is where would like to pacify our customers.

The Endowment Policy guarantees a benefit whether you survive the policy term or not. This assurance helps our customers feel confident that their money is well-spent and that they’re making a smart financial decision.

*People also think that buying an insurance policy like endowment policy can be so tedious and they can just do things by themselves on their own term. How are you addressing the buying process with your digital capabilities at AXA?

We’ve put in a lot of effort to make the buying process as easy as possible. You can purchase the policy online through our website at www.axamansard.com/insurance/life/endowment-plan/. If you prefer in-person assistance, our welcome centres across Nigeria are available, and our sales advisors are ready to help. Our call centre also provides real-time support. We’re committed to making the experience smooth and convenient for everyone!

How is a policy like an endowment policy addressing the notion that it’s only rich people who take Life Insurance?

This was one of the major considerations in setting up this policy. The idea is to get everyone on board, no matter your income level. Would you believe that it is designed to be accessible to everyone, regardless of what they earn? Premiums can be as low as N5,000 monthly, and the benefits range from 1 million to 200 million naira. We want to ensure that everyone, no matter their financial status, can afford and benefit from life insurance.

How is the Endowment Policy different from the Life Saving insurance and can one person hold the two policies at the same time?

Oh, yes, one person can have both policies. The Endowment Policy pays benefits on death or survival, whereas savings-linked Life insurance accrues interest and pays out at the end of the policy term or upon death. They complement each other well, providing comprehensive financial security.

What are the requirements for anyone who wants the policy and how can they sign up?

Signing up is quite straightforward. You need to fill out a short proposal form, provide an ID card, and make the payment. The policy is then yours! The minimum age to sign up is 18, and the maximum is 64 for the Anticipated Endowment and 67 for the regular Endowment. You can start by visiting our website www.axamansard.com/insurance/life/endowment-plan/ to get an endowment policy today.

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Senate Forms Seven-Man Committee to Harmonise Electoral Act Amendment Bill

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Godswill akpabio Senate President

By Adedapo Adesanya

The Senate has constituted a seven-man committee to harmonise contributions and opinions on the Electoral Act Amendment Bill, 2026, with a mandate to present a consolidated report to the chamber next Tuesday.

The decision followed over two hours of consideration of the bill’s provisions during a closed-door session on Thursday.

The committee is chaired by the Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, Mr Niyi Adegbomore.

Other members are Senators Adamu Aliero, Aminu Tambuwal, Adams Oshiomhole, Danjuma Goje, Tony Nwoye, and Titus Zam.

The group has three days to conclude its assignment and submit its report for consideration at the next plenary session scheduled for next week.

The Senate on Thursday commenced consideration of the Electoral Act 2022 (Repeal and Re-enactment) Bill 2026, moving into a closed-door session to review documents submitted by the Chairman of the Senate Committee on Electoral Matters, Mr Simon Lalong.

The Electoral Act (Repeal and Enactment) Bill, 2025 would expand voter participation, safeguard against electoral fraud, and strengthen institutional capacity of the Independent National Electoral Commission (INEC).

The closed session was convened to allow lawmakers to thoroughly examine the proposed amendments and supporting documents before engaging in further legislative debate on the bill.

This development comes after the upper chamber deferred consideration of the bill on Wednesday, giving lawmakers time to prepare for a detailed review.

Although the House of Representatives has already passed the bill, Senate President Senator Godswill Akpabio underscored the need for thorough scrutiny, given the bill’s implications for the nation’s electoral process.

“This is a very important bill, especially as it is election time. We must take our time to ensure justice is done to all, so that we do not end up at the tribunal,” he said.

According to the committee’s findings, a clause-by-clause analysis of the bill indicates that enacting the legislation would leave Nigerians with an enduring legacy of electoral integrity, enhance transparency, and boost public confidence.

The bill contains more than 20 key innovations distinguishing it from previous electoral frameworks, including provisions recognising the voting rights of prisoners and mandating INEC to register eligible inmates in correctional facilities nationwide.

It also prescribes sanctions for vote-buying ranging from a fine of N5 million to a two-year jail term, as well as a 10-year ban from contesting elections. It also recommends mandatory jail terms and higher fines for offences such as result falsification and obstruction of election officials.

Others include standardising delegates for indirect party primaries to prevent arbitrary determination of delegate criteria by party leaders, while addressing perennial funding challenges to the Independent National Electoral Commission (INEC) by mandating the release of election funds at least one year before polling day.

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Dangote Cement Ibese Plant Launches Safety FairPlay Initiative

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Dangote cement unclaimed dividends

By Modupe Gbadeyanka

A Safety FairPlay initiative designed to drive behavioural change and cultural shift towards safety conducts among its employees has been launched by the Ibese Plant of Dangote Cement Plc.

This programme will drive lasting behavioural and cultural change through an equitable and transparent framework that promotes safe conduct. Built on three core pillars—Recognition, Correction (Coaching) and Discipline.

It rewards positive safety behaviour, ensures consistency in addressing at-risk actions, and encourages open reporting of incidents, near-misses and errors, the company said in a statement on Thursday.

The scheme will be replicated at all the plants of Dangote Cement, marking a significant milestone in strengthening the Company’s safety culture, the organisation added.

The pilot launch of this policy recorded impressive participation from both the management and employees, thus underscoring a shared commitment to safer work practices.

The Technical Director of the cement giant, Mr Anandam Duraisamy, emphasized the strategic importance of the initiative to the business and called on employees to champion a safety culture anchored on fairness, accountability, recognition, and continuous improvement.

He noted that the Safety Fairplay marks a defining moment in the company’s journey toward building a workplace where safety is not just a policy, but a shared mindset—an everyday habit that defines who we are and how we work. We are here to launch an initiative that aims to transform not only what we do, but how we think, act, and respond when it comes to safety.

“Safety FairPlay is about building trust, consistency, and accountability in how we manage safety. When people know that safe behaviour is recognised, risky actions are fairly addressed, and everyone is treated equitably, safety becomes a shared responsibility and a true part of our culture.

“This initiative is about behavioural and cultural change. It recognises that true safety excellence goes beyond equipment, procedures, or compliance; it begins with people-our attitudes, our choices, and our willingness to look out for one another.

“Every incident prevented, every risk spotted, and every safe action taken strengthens our organisation. And that strength comes from you—from each member of our workforce embracing safety as a personal responsibility and a collective value,” he stated.

Also speaking, the Ibese Plant Head of Health, Safety and Environment (HSE), Mr Elvis Akalusi, commended the management for driving the programme and applauded employees for their enthusiastic embrace of the initiative.

He affirmed that the Safety FairPlay Initiative would be fully embedded into the plant’s daily operations, with the full collaboration of all heads of departments.

“This initiative will offer the tools, coaching, recognition, and accountability needed to help each of us make safer decisions. But its success depends on our shared commitment—our courage to consistently do the right thing, even when no one is watching.

“Let us approach this new chapter with open minds and a determination to improve. Let us build a culture where speaking up is encouraged, learning is continuous, and mistakes become opportunities to grow—not reasons for fear,” he stated.

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Navy Unveils Roadmap for Nigeria’s 2.5mbpd Crude Output Target

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crude oil 1.27 million barrels per day

By Adedapo Adesanya

The Nigerian Navy via its Central Naval Command has unveiled a fresh security coordination roadmap with oil majors and maritime stakeholders to ensure security enforcement aligns with plans to boost the country’s crude oil production to 2.5 million barrels per day.

The renewed push followed back-to-back high-level engagements held this week between the Central Naval Command, major oil exploration companies, and key maritime industry players, which stakeholders agreed could be delivered if crude oil theft, sabotage, and operational disruptions across the Niger Delta are decisively addressed.

Flag Officer Commanding, Central Naval Command, Rear Admiral Suleiman Ibrahim, told participants that maritime security remains critical to Nigeria’s economic survival and energy ambitions.

“Maritime security is a collective responsibility,” Rear Admiral Ibrahim said.

“Sustainable outcomes can only be achieved through close collaboration and mutual understanding between the Nigerian Navy and you, our industry partners whose assets, personnel, and investments we protect.”

During the engagement with oil executives, participants jointly affirmed that President Bola Ahmed Tinubu’s 2.5m bpd mandate is “doable and achievable”, provided security agencies and industry operators align operations, intelligence sharing, and response strategies.

Rear Admiral Ibrahim stressed that the Navy’s role is to create an enabling environment for uninterrupted oil and gas operations, assuring stakeholders of stronger protection for offshore and onshore assets within the Command’s Area of Responsibility.

He also conveyed the full backing of the Chief of the Naval Staff, CNS, Vice Admiral Emmanuel Ikechukwu Ogalla, noting that Naval Headquarters remains committed to deploying the required platforms, assets, and leadership to strengthen maritime security.

“The Chief of the Naval Staff is fully committed to providing the platforms and strategic leadership needed to optimise security deployments across the Central Naval Command,” the FOC said.

According to him, the dual meetings provided an opportunity to reassess the evolving security landscape, review emerging threats, and fine-tune response mechanisms in line with industry realities.

“We welcome frank and constructive engagement,” Rear Admiral Ibrahim added. “Your feedback is vital to improving our operational effectiveness and service delivery.”

According to a statement, industry stakeholders expressed renewed confidence in the Navy’s leadership and ongoing inter-agency cooperation, noting that improved maritime security is already translating into greater operational stability and production recovery.

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