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AVON, UBA Partner On Bespoke Health Plans For Children

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UBA Redeems USD500 Million 5-year Eurobond

Avon Healthcare Limited, a leading health management organisation has partnered with pan-African financial institution, United Bank for Africa (UBA) Plc, to develop well-tailored and unique health plans for children.

The collaboration to develop the new health plans became necessary due to the gap that exists in the area of child healthcare and both organisations have joined forces to change the narrative where children are usually not adequately insured while also ensuring the achievement of universal health coverage in Nigeria especially for the children.

The new healthcare plan tagged the UBA Kiddies Health Plan has two variants: the UBA Kiddies Plus and Prestige which allows individuals with UBA Kiddies or UBA Teens account easy access to affordable healthcare services without paying out of their pocket.

Specifically, this well-designed healthcare plan will allow Avon HMO to tap into an existing base of thousands of customers who have active UBA accounts or seek to open these accounts to enable them to access great healthcare services.

The Head of Retail Sales and Partnerships at Avon HMO, Dr Babajide Oyeduntan, who threw more light on this partnership, said this initiative, was in line with the organisation’s reputation for innovatively expanding healthcare access through strategic collaborations with forward-thinking companies.

READ ALSO: Ondo Suspends Road Transport Workers’ Union Over Clash

Oyeduntan said: “Over the years, we have launched a series of products in partnership with various entities with the overall aim of improving healthcare access. Only recently, we launched the Kaffy Health Plan for the entertainment industry, as well as bespoke health plans for women with Shecluded – a female-oriented financial services company.

Therefore, the newly launched Kiddies Health Plan in partnership with UBA further emphasises our commitment to securing the health of our children and improving healthcare access for all Nigerians.”

The Head, Personal Banking at UBA Group, Ogechi Altraide, said that UBA was excited to partner with Avon to give UBA customers the opportunity to enjoy access to dental care, eye tests/surgeries, back-to-school checks and many more, which she stated were part of the organisation’s promise to help its customers get more value from their loyalty to the bank.

She said: “Despite their susceptibility to sickness, children remain one of the least insured in the country. Meanwhile, healthcare insurance is by far the most important predictor of whether children will receive much-needed health care. The launch of this new health plan is, therefore, an important milestone for us as we continue to put our customer first.”

With less than five percent of the country’s population under any sort of heath cover, there remains a lot to be done to improve healthcare access. As such, these new products from Avon HMO and UBA are key signposts in the country’s journey towards achieving universal health coverage.

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Debt Profile Under Buhari Worrisome – CBN

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Buhari Admits Buying N1.4b Vehicles For Niger Republic

Nigeria’s increasing debt profile under President Muhammadu Buhari is a source of worry to the Central Bank of Nigeria ( CBN) .

This was disclosed in a communique by the CBN’s monetary policy committee  released on Wednesday.

“The committee noted the Federal Government’s increasing debt profile and expressed concerns over debt sustainability given that global uncertainties remain elevated”, the apex said.

The financial regulator urged the federal government to take on urgent measures to cope with debt burden.

READ ALSO: ASUU Strike May End Soon As Buhari Gives Education Minister Adamu Deadline

“The MPC thus reiterated its call to the Federal Government to urgently diversify its revenue sources through various initiatives, such as, the development of a viable tax framework for the extractive and mineral export industries, to strengthen its fiscal buffers.”

As at March 2022, Nigeria’s total public debt hit N41.60 trillion, according to the Debt Management Office.

The Buhari regime has often rebuffed concern about its acute borrowings, justifying that the funds are invested in capital projects with lasting impact.

 

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

As a measure to tame rising inflation, the policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 13 percent to 14 percent.

The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on it.

READ ALSO: CBN Raises Benchmark Interest Rate To 13%

Addressing journalists on Tuesday after the committee’s meeting at the CBN headquarters in Abuja, Godwin Emefiele, governor of the apex bank, said the hike in interest rate would help tame rising inflation.

 

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Nigeria’s Inflation Rises Over 18 Per Cent

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Nigeria's Inflation Rises Over 18 Per Cent

The National Bureau of Statistics (NBC) has said that Nigeria’s inflation rate in the month of June 2022 increased to 18.60 percent on a year-on-year basis.

The recorded increase in June is 0.84 percent points higher compared to the rate recorded in June 2021, which is 17.75 percent.

This means that the headline inflation rate increased in the month of June 2022 when compared to the same month in the previous year (June 2021).

Increases were recorded in all COICOP divisions that yielded the Headline index.

READ ALSO: Ghana Workers Get 15 Per Cent Pay Rise To Cushion Inflation

On a month-on-month basis, the headline inflation rate increased to 1.82 percent in June 2022, this is 0.03 percent higher than the rate recorded in May 2022 (1.78 percent).

The percentage change in the average composite CPI for the twelve months period ending June 2022 over the average of the CPI for the previous twelve months period is 16.54 percent, showing a 0.62 percent increase compared to 15.93 percent recorded in June 2021.

 

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