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Recapitalisation: Insurers praise NAICOM on deadline extension

The Nigerian Insurers Association (NIA) has commended the National Insurance Commission (NAICOM) for its recent extension of deadline for recapitalisation of insurance and reinsurance companies in the country, describing it as a step in the right direction.

NAICOM extends recapitalisation deadline for insurance, reinsurance companies by six months

The National Insurance Commission (NAICOM) has extended the recapitalisation deadline for Insurance and Reinsurance Companies earlier slated for June 30, 2020, to December 31, 2020.
Senate President Ahmed Lawan 2

2020 Budget: Senate approves N140.3 billion for NCC

The Senate on Wednesday approved the sun of N140,383,591,000 for the Nigerian Communications Commission (NCC) for the 2020 fiscal year.
Olufemi Gbajabiamila

House of Reps to investigate insurance breaches by MDAs

The House of Representatives has resolved to investigate breaches, impunity and other infractions of some federal government institutions on insurance and actuarial matters.
Senate President Ahmed Lawan 2

Senate mandates committee to investigate issues on foreign vessels

The Senate on Wednesday at the plenary mandated its Committee on Local Content to investigate reasons for the dominance of foreign vessels above locally owned and registered vessels in the domestic carriage of petroleum products within coastal inland waterways of Nigeria.
Senate President Ahmed Lawan 1

Senate to confirm Edward Adamu as AMCON chairman next week

Senate on Wednesday began the Confirmation process of Edward Lametek Adamu as the Chairman of the Asset Management Corporation of Nigeria, AMCON.

House of Reps: c covers less than 5 per cent of Nigerians

The House of Representatives Joint-Committee on Insurance & Actuarial Matters, Health Services and Health Institutions, has disclosed that despite a steady guzzle of billions of public funds in 15 years, the National Health Insurance Scheme (NHIS) has captured less than five per cent of Nigerians.

NAICOM okays new directors for standard alliance insurance

The National Insurance Commission (NAICOM) has approved the appointment of Haruna Mohammed and Uzoma Igbonwa as the nonexecutive directors for Standard Alliance Insurance Plc.
Chairman, Securities and Exchange Commission (SEC) Olufemi Lijadu has called for concerted efforts to strengthen the capital market to attract foreign investors.

SEC seeks partnership on capital market growth

Chairman, Securities and Exchange Commission (SEC) Olufemi Lijadu has called for concerted efforts to strengthen the capital market to attract foreign investors.
President of the Senate, Ahmad Ibrahim Lawan (left) with the Senate Minority Whip, Senator Philip Tanimu Aduda, during the plenary on Tuesday, November 19, 2019. 5

Senate: AMCON a drain on the nation’s economy

The Senate Committee on Banking, Insurance and other Financial Institutions has said that Assets Management Company of Nigeria which was set up by the government to buy back bad debts by banks has become a drain on the nation’s economy, adding something must be done to reverse the trend.

NAICOM to indemnify investors of failed companies

Against the backdrop of ongoing recapitalisation of the insurance industry, the National Insurance Commission (NAICOM) has said it will indemnify investors of firms which failed to meet the recapitalisation exercise.
President of the Senate, Ahmad Lawan, presiding over the plenary in the upper chamber on Thursday, 3rd October, 2019.

Senate decries poor enlightenment, weak insurance regulation

The Senate has expressed its displeasure over the poor regulation of insurance companies in the country, concerned about the low enlightenment of Nigerians on insurance policies.

44 insurance firms get no objection on recapitalisation plan

The National Insurance Commission (NAICOM) has granted no objection to 44 insurance companies to proceed with their recapitalisation plan.

NAICOM: Insurance firms’ total assets hit N1.3 trillion

The total asset of 58 insurance companies as at 2018 stands at N1.3 trillion, Acting Commissioner, National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas has said.
Monalisa Chinda-Coker

Nollywood diva Monalisa Chinda harps on actors’ welfare

Veteran Nollywood actress, producer and TV personality, Monalisa Chinda, has called for improved welfare and better working environment for Nigerian actors.

NAICOM’s industry portal goes live next year

A portal of the National Insurance Commission (NAICOM) that will integrate all insurance transactions in the insurance industry into a single hub will go live next year, its Acting Commissioner, Mr Sunday Thomas said on Thursday.

CBN: Nigeria’s financial inclusion rate now 63.2 percent

The bank said this in the 2018 Annual Report on the National Financial Inclusion Strategy Implementation posted on its website.

NIPC tracks $9.29 billion investment in three months

The Nigerian Investment Promotion Commission on Friday said it recorded a total investment commitment of $9.29bn in the third quarter of this year.

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Businessman sent to prison over alleged N42 million fraud

A 42-year old businessman, Joshua Alele Momodu has been ordered remanded at the Ikoyi Correctional Facility, Ikoyi, Lagos pending when he will be able to perfect the bail conditions granted him by an Igbosere Chief Magistrates’ Court for allegedly obtaining the sum of N42 million from the management of Adeeman Nigeria Limited under false preference.

Man bags six months imprisonment for stealing yams

A Dutse Grade 1 Area Court, Abuja on Friday sentenced a 20-year-old man, Aliyu Musa, to six months imprisonment for stealing yams valued at N100,000.
In 2016 while inspecting ongoing projects in the state, Rivers State Governor, Nyesome Wike said his administration had built over 200 roads and bridges in the state.

Governor Wike lobbying to join APC – party leaders

The major stakeholders of the All Progressives Congress (APC) in the 20 wards of Port Harcourt City council area (PHALGA) of Rivers State have accused Governor Nyesom Wike of desperately lobbying to join the APC, since the former Vice-President, Alhaji Atiku Abubakar is not allowing him (Wike) to take over the People’s Democratic Party (PDP).
Enyimba International Football Club of Aba on Sunday booked a spot in the group stage of the CAF Confederation Cup following a 2-1 away win against South African side TS Galaxy.

Enyimba chase consolidation points against Agadir

Confederation Cup campaigners Enyimba have a good chance of pushing closer to the next round as the host Hassania Agadir of Morocco on Sunday.
The Vice President, Prof. Yemi Osinbajo, on Saturday reiterated the commitment of the Federal Government towards free and compulsory education of the first nine years of a child school life across the country.

VP Osinbajo: Finance act will stimulate Nigerian economy

Vice-President Yemi Osinbajo on Saturday asserted that the Finance Act 2020 would stimulate the Nigerian economy and put the country on the path of geometric economic growth.