Why Increasing Number Of Glamorous Insurance Brokers Known As Rainmakers Are Getting Into Trouble

Eniola Adeniyi

There is a trend in the insurance world.

Increasing number of the glamorous set known as the Rainmakers are getting into trouble.

The Rainmakers are top players in the sector who dare to tread where others fear.

“They are the people that make things happen in businesses relating to the public sector. In partnership with top shots in the public offices, they structure premiums in a way that is guaranteed to provide huge returns for all those involved in any particular deal” societynow.ng learned.

Insiders disclosed that the Rainmakers have been living large on the outrageous returns of their businesses  until recently.

The Economic and Financial Crimes Commission (EFCC) stumbled on one of their “structured” businesses while trailing the anomalies in the movement of public funds.

“Since then it has become a horror story for the Rainmakers as the anti-graft agency developed a major interest in their modus operandi (Method of Operation)” societynow.ng gathered.

Added revelation has it that the EFCC, as part of its investigation, started digging into insurance policies taken by agencies of government  and on government projects.

“The rot has been amazing and at the centre of it all are the Rainmakers and those that partner with them in government offices” societynow.ng gathered.

Further digs by societynow.ng revealed that the increasing arrest and prosecution of players in public service and insurance brokers over this and that pension schemes by the EFCC are results of investigation into the activities of the Rainmakers.

Societynow.ng, however, gathered that as EFCC digs deeper into their present and past deals, prominent members of this glamour set of insurance brokers  who operate majorly in Abuja have started dropping out of sight.