The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC
The National Insurance Commission (NAICOM) has restated that there will be no extension of the recapitalisation exercise deadline for insurance companies across the country, insisting that they must be completed by the legally stipulated deadline of July 30, 2026 as
Nigeria Deposit Insurance Corporation (NDIC)Â has commenced the liquidation of Aso Savings and Loans Plc and Union Homes Plc following the revocation of their licenses by the Central Bank of Nigeria (CBN) on December 15, 2025 while assuring the entire
The National Insurance Commission (NAICOM) has made known its commitment to partnering with the Ministry to deepen insurance penetration and enhance data exchange synchronization. This formed the crux of conversation when the commission paid a strategic working visit to the
The National Insurance Commission (NAICOM) has inaugurated three core working groups to spearhead the implementation of the National Insurance Industry Reform Agenda (NIIRA) 2025 a strategic blueprint aimed at transforming Nigeria’s insurance sector through regulatory reform, digital innovation, and financial
The Federal Government has reaffirmed its commitment to deepening insurance reforms and positioning the sector as a major driver of Nigeria’s economic transformation through the implementation of the National Insurance Industry Reform Act (NIIRA) 2025. At the 2025 Insurance Directors’
The National Insurance Commission NAICOM has notified all insurance and reinsurance companies of the commencement of the recapitalisation exercise as prescribed by the Nigerian Insurance Industry Reform Act (NIIRA) 2025 following the enactment of the Reform Act and assent of
The National Insurance Commission (NAICOM) has constituted a 2025 Recapitalization Committee, following President Bola Ahmed Tinubu’s assent to the Nigeria Insurance Industry Reform Act (NIIRA) 2025. Chaired by Mrs. Oluwatoyin Charles, Director of Supervision, the Committee’s primary responsibility is to
President Bola Ahmed Tinubu on Tuesday assented to the Nigerian Insurance Industry Reform Bill, 2025 — a landmark legislation to strengthen Nigeria’s financial sector and accelerate the nation’s march toward a $1 trillion economy. The reform introduced by the new
The National Insurance Commission (NAICOM) has officially issued operational guidelines for Insurtech businesses in Nigeria, following extensive stakeholder consultation and engagement. NAICOM in a statement said the guidelines, effective from August 1, 2025, are designed to provide a clear and
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