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Insurers Nervous Over Prospect Of Romney’s Victory

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You’d think health insurance CEOs would be chilling the bubbly with Republican Mitt Romney’s improved election prospects, but instead they’re in a quandary.

Although the industry hates parts of President Barack Obama’s health care law, major outfits such as UnitedHealth Group and BlueCross Blue Shield also stand to rake in billions of dollars from new customers who’ll get health insurance under the law. The companies already have invested tens of millions to carry it out.

Were Romney elected, insurers would be in for months of uncertainty as his administration gets used to Washington and tries to make good on his promise repeal Obama’s law. Simultaneously, federal and state bureaucrats and the health care industry would face a rush of legal deadlines for putting into place the major pieces of what Republicans deride as “Obamacare.”

“There are a lot of dollars and a lot of staff time that’s been put into place to make this thing operational,” G. William Hoagland, until recently a Cigna vice president, said of the health care law.

Insurers “are not going to be out there saying, ‘Repeal, repeal, repeal,’” said Hoagland, who oversaw public policy at the health insurance company. “They will probably try to find the particular provisions that cause them heartburn, but not throw the baby out with the bath water.”

Likewise, America’s Health Insurance Plans, the major industry trade group, isn’t talking about what its members are telling the Romney campaign, though informal discussions are under way through intermediaries. Insurers like Romney’s plan to privatize Medicare, and some point out that it looks a lot like Obama’s approach to covering the uninsured.

Robert Laszewski, an industry consultant and blogger, says the tension is becoming unbearable.

“I spend a lot of time in executive offices and board rooms, and they are good Republicans who would like to see Romney win,” said Laszewski. “But they are scared to death about what he’s going to do.”

There is no consensus among Republicans in Congress on how to replace Obama’s law, much less anything like a bipartisan middle ground on health care, a necessity if the House retains its GOP majority and the Senate remains in Democratic hands.

In contrast, Obama’s law is starting to look more and more like a tangible business opportunity. In a little over a year, some 30 million uninsured people will start getting coverage through a mix of subsidized private insurance for middle-class households and expanded Medicaid for low-income people. Many of the new Medicaid recipients would get signed up in commercial managed care companies.

A recent PricewaterhouseCoopers study estimated the new markets would be worth $50 billion to $60 billion in premiums in 2014, and as much as $230 billion annually within seven years.

“I think it’s limited what they’ll be able to accomplish in terms of repeal,” said Coffina. “We have to remember that Romney implemented very similar legislation” as governor of Massachusetts.

If Romney wins he’s more likely to reduce the scope and scale of the law, Coffina added. Possibilities include delaying all or parts of the new coverage, particularly a Medicaid expansion that GOP governors don’t like.

The industry has three items in particular it wants stripped out: cuts to Medicare Advantage private insurance plans; a requirement that insurers spend 80 percent of premiums on medical care or rebate the difference to their customers; and new taxes on insurance companies. But CEOs don’t share the visceral objection that many Republicans have to a bigger government role in health care.

Industry executives “are Republicans in the sense that they’re worried about the bottom line and they want to retain private sector involvement,” said Hoagland, the former Cigna vice president. “But some of their bottom line is now driven by Medicare and Medicaid. So it’s not like they’re red or blue. It’s more like purple.”

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Senate Urges Tinubu To Sack CAC Boss

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The Senate yesterday urged President Bola Tinubu to remove the Registrar-General of the Corporate Affairs Commission, Hussaini Magaji, over what lawmakers described as a persistent refusal to appear before its Committee on Finance.

The resolution followed a motion raised by Senator Orji Uzor Kalu during a session where members of the President’s economic team were present for engagement with the committee.

Tension rose at the commencement of the meeting when agency heads were introduced and senators observed the absence of the CAC Registrar-General, who had been invited to account for the commission’s activities, particularly on revenue matters.

Moving the motion, Kalu expressed anger over what he termed repeated disregard for legislative oversight, accusing the CAC boss of consistently avoiding invitations to appear before the committee.

He said, “Since I came to the Senate, this CAC man has always given excuses that he is in the Villa or going to London. He is not above the law. This man is not coming to the Senate. Look at the ministers of finance and budget. They are both here. We summoned them and they came.

“But this man thinks he’s bigger than the Senate. We’re not going to take that rubbish again. He had refused on so many occasions to honour our invitation to appear before this committee. We have issues with the reconciliation of the revenue of CAC.

“I move a motion that the man should be reported to Mr President and ask for immediate removal because we cannot continue with him. Is that what we’re doing here? He should come and give us an account of what he had done.”

The Chairman of the Senate Committee on Finance, Senator Sani Musa, corroborated the concerns, pointing to unresolved discrepancies in the reconciliation of the commission’s revenues.

He  noted that despite several invitations, the registrar-general had failed to show up to address the issues raised by senators.

“The registrar-general of the Corporate Affairs Commission has refused on so many occasions to honour the calls, invitations or summons of this most important committee.

“There are only about three committees that are in the constitution of the Federal Republic of Nigeria and the Committee of Finance is one of those committees. Sections 88, and 89 have given us these powers.

“And as registrar-general, we have issues with the reconciliation of their revenue. Anytime he is invited, he will give us one reason or another, and he will send junior officers to come and talk to the Senate. That cannot be accepted,” he said.

In a further show of frustration, Senator Adams Oshiomhole proposed that the Senate escalate the matter by withholding approval of the CAC’s 2026 budget pending the registrar-general’s personal appearance before the committee.

Oshiomhole also suggested that the commission be restrained from spending its internally generated revenue without prior approval of the national assembly.

“This senate should decline to appropriate anything in the 2026 budget until we are satisfied that he has accounted for previous money and spending properly.

“And should he spend money that is not appropriated, he should be heading to Kuje prison,” Oshiomhole said.

The motion urging the President to remove the CAC Registrar-General was subsequently put to a voice vote and adopted.

The development underscores renewed assertiveness by the Senate in exercising its constitutional oversight functions, particularly over revenue-generating agencies.

The Corporate Affairs Commission, which regulates companies and business registrations in Nigeria, is a key contributor to non-oil revenue, making accountability and transparency central to its operations.

 

 

 

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Amend Constitution To Accommodate State Police, Tinubu Tells Senators

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President Bola Tinubu has appealed to the leadership of the 10th Senate to amend the constitution to provide a legal framework for the establishment of State Police to tackle insecurity nationwide.

President Tinubu made the appeal during an interfaith breakfast with senators at the Presidential Villa in Abuja, yesterday.

The president said that the creation of State Police has become urgent to address Nigeria’s evolving security challenges, strengthen grassroots policing, and enhance states’ capacity to respond swiftly to threats within their jurisdictions.

He noted that a decentralised policing structure would complement existing federal security architecture and promote intelligence-led, community-focused law enforcement.

“We are facing terrorism, banditry, and insurgency. But we will never fail to make a right response to this cause. What I will ask for tonight is for you (Senators) to start thinking how best to amend the constitution to incorporate the State Police for us to secure our country, take over our forests from marauders, and free our children from fear,” he said.

The president commended the cordial relationship between the Executive and the Senate, saying that unity is needed to defeat terrorism and banditry in the country.

“It is a good thing that we are working in harmony, we are looking forward to a country that evolves, a country that takes care of its citizens and protects all.

Tinubu thanked the Senate for its unflinching support towards achieving various economic reforms of his administration, especially the fuel subsidy removal and tax reform policy.

“I have a lot of credit for bold reforms. Without your collaboration and inspiration, those reforms would not be possible. We are reformists together. What we gave up and what we stopped is monumental corruption in the subsidy system. We don’t want to participate in monumental corruption and arbitrage foreign exchange.

You don’t have to chase me for dollars; you could see what Nigeria is today. You should be proud, and I am glad you are. What we are enjoying is a stable economy, and prosperity is beckoning us. We need to work hard, and this attendance means a lot to me,” the president said.

President of the Senate, Godswill Akpabio, commended the president for hosting the leadership of the Senate to the Interfaith breaking of fast.

He commended President Tinubu for providing the visionary leadership the nation needs at this critical time, stating that the administration’s bold reforms have now brought more revenue to governors at the sub-national level for the development of critical infrastructure.

The Senate President prayed for the administration, and for the nation’s peace and prosperity.

 

 

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FCT COUNCILS’ ELECTIONS: PDP WINS GWAGWALADA CHAIRMANSHIP AS APC SECURES AMAC, BWARI

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Alhaji Mohammed Kasim, the candidate of the Peoples Democratic Party (PDP), has won the Gwagwalada Area Council chairmanship election in the Federal Capital Territory (FCT).

Philip Akpeni, the Returning Officer of the Independent National Electoral Commission (INEC), announced the results on Sunday morning.

Alhaji Kasim polled 22,165 votes to defeat Alhaji Yahaya Shehu of the All Progressives Congress (APC), who polled 17,788 votes.

Alhaji Biko Umar of the All Progressives Grand Alliance (APGA) scored 1, 687 to come in third place.

“I am the returning officer for the 2026 FCT Area Council, Gwagwalada chairmanship held on Feb. 21, 2026,” Akpeni said.

“That Mohammed Kasim of PDP, having certified the requirements of the law, is hereby declared the winner and is returned elected.”

In the Abuja Municipal Area Council (AMAC), Hon. Christopher Maikalangu, the APC candidate, was declared the winner of the chairmanship poll with 40,295 votes.

Andrew Abue, the Collation Officer for AMAC, said Hon. Maikalangu, who is the incumbent AMAC chairman, was returned elected having scored the highest number of votes cast.

The African Democratic Congress (ADC) came second with 12,109 votes, while the Peoples Democratic Party (PDP) polled 3,398 votes.

According to Abue, the total number of valid votes in the chairmanship poll was 62,861, while the total votes cast stood at 65,197.

He added that the number of registered voters in AMAC was 837,338, while the total number of accredited voters was 65,676.

Meanwhile, the Independent National Electoral Commission (INEC) has declared Mr. Joshua Ishaku of the All Progressives Congress (APC) as the winner of the Bwari Area Council Chairmanship election.

Announcing the result on Sunday in Bwari, the Returning Officer for the election, Prof. Mohammed Nurudeen, stated that Ishaku polled a total of 18,466 votes to emerge victorious in the February 21, 2026 poll.

I am the Returning Officer for the 2026 FCT Area Council, Bwari chairmanship held on Feb. 21, 2026. That Joshua Ishaku, having satisfied the requirements of the law, is hereby declared the winner and is returned elected,” Nurudeen said.

According to the results declared, the candidate of the African Democratic Congress (ADC) secured 4,254 votes, while the Zenith Labour Party (ZLP) polled 3,515 votes to place second and third respectively.

The declaration adds to the series of results emerging from the 2026 FCT Area Council elections, as political parties assess their performance ahead of future contests.

INEC UPLOADS 2,602 OF 2,822 FCT CHAIRMANSHIP RESULTS ON IReV

The Independent National Electoral Commission (INEC) had uploaded 2,602 out of the 2,822 expected polling unit results from Saturday’s chairmanship elections in the Federal Capital Territory (FCT) as at 5:55am on Sunday, data retrieved from its Result Viewing Portal (IReV) showed.

According to The Tide source, the figure represents an overall upload rate of about 92.2 per cent across the six area councils of the territory.

A council-by-council breakdown indicates that Municipal Area Council recorded the highest number of submissions in absolute terms, with 1,309 of 1,401 polling unit results uploaded, representing 93.43 per cent.

In Gwagwalada Area Council, 330 of the expected 338 polling unit results had been uploaded, representing 97.63 per cent — the highest upload rate among the six councils.

In Bwari Area Council, INEC uploaded 463 of 485 polling unit results, translating to 95.46 per cent.

In Abaji Area Council, 129 of 135 polling unit results had been uploaded as at 5:55am, representing 95.56 per cent.

In Kwali Area Council, 164 of the expected 201 polling unit results were available on the portal, representing 81.59 per cent.

In Kuje Area Council,  207 of 262 polling unit results had been uploaded, representing 79.01 per cent — the lowest rate among the six councils as at the time of review.

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