Skip to main content

AFCFTA: FG pushes ECOWAS brown card scheme

AFCFTA: FG pushes ECOWAS brown card scheme

Buhari, 9 other presidents, others receive AfCFTA awards

By Rosemary Iwunze

INSURANCE

As Nigeria settles down to the implementation of the African Continental Free Trade Area, AFCFTA, the Federal Government, FG, is pushing for the full implementation of the Economic Community of West African States, ECOWAS, Brown Card Insurance Scheme to guarantee prompt compensation to victims of road accidents within ECOWAS member states.

Making this known at the inauguration of Mr. Ganiyu Musa as the Chairman of Council of Bureaux, ECOWAS Brown Card Insurance Scheme, in Abuja yesterday, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, noted that the existence of the scheme and its effective implementation will stimulate integration of the West African regional block preparatory to the full implementation of AfCFTA subscribed to by most ECOWAS countries.

READ ALSO:Senate President wants reduction in cost of crude oil production

Ahmed, who was represented by the Commissioner for Insurance/CEO of the National Insurance Commission (NAICOM), Mr. Sunday Thomas, applauded the initiative that welcomes the free movement of goods and services within a sub region and promotes intra – regional investments and cooperation, saying, it is a huge step in the right direction for economic integration.

Ahmed however stated: “There are challenges that must be addressed if the objectives of the ECOWAS Brown Card Scheme are to be fully achieved. These challenges include: lack of respect for the agreement signed by member countries; delay in settlement of claims due to victims; inadequate funding of the National Bureaux; lack of public awareness and education; fraud in the acquisition of the certificate at the borders; inadequate commitment to reconciliation and cross settlement; low level of technology application in the distribution and general implementation of the scheme, among others.”

In his acceptance speech, Musa said noted the brown card insurance scheme is an idea that could transform insurance, especially, motor insurance scheme across the borders of West African countries, adding that, it is an initiative that can raise insurance awareness and penetration across the region.

The main objective of the scheme, he said, is to ensure prompt and fair compensation to the victims of road accidents for the damages caused them by non residing motorists travelling from other ECOWAS member states to their country.

“The ECOWAS Brown Card Scheme operates through a 14 National Bureaux network spread throughout the fourteen member states. Each National Bureau plays two major roles. The National Bureau operates therefore as an Issuing Bureau to ensure Brown Card availability for local motorists, while also conducting investigation and settle claims arising from an accident caused by motorist holders of Brown Card.”

 

The post AFCFTA: FG pushes ECOWAS brown card scheme appeared first on Vanguard News.


https://ift.tt/3ot6Lts by Urowayino Jeremiah via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

A lot of people think of actresses as prostitutes ― Joke Lawal

On-the-rise actress, Joke Lawal is living up to the title bestowed on her in 2016 as Nollywood New Bride by White Cowry Awards as the one-time City People Awards nominee is rapidly becoming a force to reckon with in the make-believe world. The Moshood Abiola Polytechnic graduate who dumped her degree in Business Administration in pursuit of her passion for acting in a chat with Potpourri has revealed what she hates about being an actress and what she would love to see a change in the movie-making landscape. ALSO READ:  Buhari urges Nigerians to pray for peace, unity “I would like to change people’s perception of actresses. A lot of people think of actresses as prostitutes, they see us as people who are not worthy of marriage and having a family. If I have the power this is something I will like to change. I will also like to see a change in the way our stories are written and interpreted, and in the quality of our film productions. Another thing I would like to change too is, ho...
Post a Comment
Read more