EFCC arraigns former NHIS Boss, Usman Yusuf over alleged N90m fraud
04 Feb
Health News

EFCC arraigns former NHIS Boss, Usman Yusuf over alleged N90m fraud

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By Matthew Denis and Austine Agbo Emmanuel, accompanied The Economic and Financial Crimes Commission,  EFCC, on Monday, February 3, 2025, arraigned a  former Executive Secretary of the National Health Insurance scheme, NHIS, Professor Usman Yusuf before Justice Chinyere E. Nwecheonwu of the Federal Capital Territory High Court, Kuchiako Kuje. This was contained in a statement signed by Head Media and Publicity of the Commission,  Dele Oyewale on Monday. The statement said, “Usman was arraigned on a five count-charge bordering on embezzlement, conferring undue advantage, and fraud to the tune of N90, 439,178.00( Ninety Million,  Four Hundred and Thirty Nine Thousand, One Hundred and Seventy Eight Naira only. “That you, Prof Ismab Yusuf sometime between 2016 and July 2017, whilst being Executive Secretary of the National Health Insurance Scheme (NHIS) in Abuja, within the jurisdiction of this Honourable Court, and...
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business-news-mrvan-moves-nwi-office
04 Feb
Business News

Business news: Mrvan moves NWI office and Toll Road adds three troopers

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Mrvan announces plans to move Northwest Indiana office U.S. Rep. Frank J. Mrvan, D-Highland, will move his Northwest Indiana office to 8001 Broadway, Suite 102, in Merrillville. The office will be closed on Feb. 3 and 4 to accommodate the move, and it will reopen at noon on Feb. 5. The telephone, fax, and email addresses for the Northwest Indiana office will remain unchanged; the phone number is (219) 795-1844 and the fax number is (219) 795-1850. “Our office’s top priority is to serve the people of Northwest Indiana, and it is my hope that this new office location will better accommodate all constituents and facilitate our services,” Mrvan said in a release. Mrvan’s office provides an array of services to assist constituents with navigating federal agencies, including answering Social Security and Medicare benefits questions, getting passports renewed,...
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With 100% FDI boost, MNCs to drive Capital and innovation in insurance
04 Feb
Business News

With 100% FDI boost, MNCs to drive Capital and innovation in insurance

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Mumbai: The insurance industry is poised for significant growth and innovation following the government’s decision to allow 100% foreign direct investment (FDI) in the sector. This policy shift is expected to bring in fresh capital, with many multi-national giants likely to make large investments, now that they no longer face challenges of control or securing contributions from Indian partners.According to the IRDAI annual report, India currently has 26 life insurers, 25 general insurers, and 7 standalone health insurers, with Rs 35,000 crore paid-up capital in life insurance and Rs 40,375 crore in the non-life segment. The government's move to increase the FDI limits is further clarified in the budget, which states that the proceeds of ULIPs, which do not benefit from tax exemptions, will be taxed at a capital gains rate of 12% instead of...
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