NAIC pays N848m claims in 2020

Managing Director/CEO, Mrs Folashade Joseph,

The Nigerian Agricultural Insurance Corporation (NAIC) said it paid the sum of N848 million as insurance claims to its insured farmers and other policyholders in 2020.

This was contained in a press statement from the office of the Managing Director/CEO, Mrs Folashade Joseph, signed by the Corporation’s Assistant General Manager (Corporate Services) Magdalene Omosimua and made available to this medium yesterday.

NAIC boss also stated in the statement that in 2019, the Corporation equally paid the sum of N856 million to its insured farmers who suffered various degrees of losses as claims.

“NAIC, since it was established as an agricultural risk management agency of the Federal Government, it has continued to deliver on its major mandates of providing succor to farmers and comfort to financial institutions which lend to participants in the primary agricultural production sector. To serve its clients who are located across the country, the Corporation has very experienced and dedicated staff in every state of the Federation and the Federal Capital Territory (FCT),” the statement stated.

The statement enjoined agricultural investors and lending institutions to continue to partner with NAIC which is totally committed to the food security agenda of His Excellency, President Muhammadu Buhari and the noble interventions of the Central Bank of Nigeria (CBN) under the leadership of its Governor, Dr. Godwin Emefiele.