30 results
- 20 Jun 2022
NAICOM License Micro Insurance Institutions to Promotes Financial Inclusion
The National Insurance Commission (NAICOM), has explained that its reason for issuing operating licenses to micro insurance institutions was to ensure that Nigerians at the grass roots were not left…
- 2 May 2024
NDIC Increases Deposits Coverage Levels for Financial Institutions
The Nigeria Deposit Insurance Corporation (NDIC) Thursday announced increase in the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate…
- 7 Apr 2017
Financial Institutions Risk Revenue Loss from Fintech
Large financial institutions across the world could lose 24% of their revenue to financial technology companies over the next three to five years, according to a new study by PricewaterhouseCoopers…
- 29 Oct 2024
Senate Passes NDIC Bill To Stabilise Financial Institutions
The Senate on Tuesday passed for third and final reading, a bill meant to strengthen the capacity of the Nigeria Deposit Insurance Corporation (NDIC)’s capacity to safeguard bank depositors’ funds,…
- 21 Mar 2021
Bankers Protest EFCC’s Order to Declare Assets
Bankers under the aegis of the Association of Senior Staff for Banks, Insurance and other Financial Institutions (ASSBIFI) and National Union of Banks, Insurance and Financial Institutions Employees…
- 2 Oct 2018
NDIC Paid N11.5bn to Depositors of Financial Institutions in 2017
Umaru Ibrahim, Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), has revealed that about N11.50 billion has been paid to financial institutions. The payment, he…
- 21 Jul 2019
CBN Tasks Banks, Other Financial Institutions on Customers Relationship
Central Bank of Nigeria (CBN), has advised banks and other financial institutions in the country to be transparent in their dealings in order to build customers’ confidence. Mr Kofo…
- 6 Sept 2020
Income Tax: FIRS Launches Online Portal for Financial Institutions
Federal Inland Revenue Service (FIRS), has launched a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country. This is…
- 4 Aug 2022
CWG, CustomerXPs Unveil Software to Tackle Cybercrime in Financial Institutions
CWG Plc disclosed that it is partnering with CustomerXPs to unveiled Clari5, a sophisticated software that creates real-time intelligent solutions that empower financial institutions with deeper…
- 13 May 2024
Cybersecurity Levy Meant for Financial Institutions, Telcos – Senate:
Senator Shehu Umar Buba, chairman, Senate Committee on National Security and Intelligence, on Sunday, clarified that the recently imposed cybersecurity levy announced by the Central Bank of Nigeria…
- 10 Oct 2016
NDIC to Extend Deposit Insurance Scheme to More Institutions
Nigeria Deposit Insurance Corporation (NDIC) said yesterday it would soon extend its Deposit Insurance Scheme (DIS) course to other higher institutions of learning. Mrs Christiana Efabor, NDIC’s…
- 20 Oct 2019
Technology To Enhance Insurance Sector’s Financial Inclusion Programme-NAICOM
Investing in technology is one of the ways the insurance industry could effectively key into the financial inclusion target of the Federal Government. Mr Sunday Thomas, National Insurance Commission…
- 19 Jul 2022
ASUU Strike: Banks Union, Others Threaten to Shut Down Operations
National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) said it would shut all financial institutions to join the Nigeria Labour Congress (NLC) in its solidarity strike over…
- 18 Sept 2020
FG Makes u-Turn on Bank Account Re-Registration
Federal government on Friday apologised for asking all account holders in financial institutions in the country to re-register their personal details. Recall that the federal government had on…
- 21 Jul 2025
Reps Investigate 25 Insurance Firms for Financial Infractions
The House of Representatives has launched an investigation into 25 insurance companies over alleged financial infractions that have reportedly led to the loss of hundreds of billions of naira in…
- E-Financial18 Aug 2026
Banks, Others Report 42,082 Transactions to NFIU
Financial institutions in Nigeria filed 42,082 suspicious transactions reports to the Nigerian Financial Intelligence Unit (NFIU) in 2025, as financial institutions stepped up compliance with anti-money laundering regulations amid tighter regulatory oversight.
- 28 Sept 2010
Financial Analyst Urges Insurance Companies to Deepen Penetration
Retired bank treasurer, Chief Donatus Mohammadu has charged Nigerian insurance operators to use innovative ideas and strategies to deepen the penetration of the industry to complement the banking…
- 10 Mar 2015
Senate Kills Insurance Brokers Bill
Senate on Monday at a public hearing organised by its committee on Banking, Insurance and other Financial Institutions frustrated attempts to seek legal backing for Insurance brokerage and accord…
- 3 Jun 2016
FG Halts Mass Retrenchment as 9,740 Bankers, Others Lose Jobs
Federal government has directed banks, insurance and other financial institutions to stop the on-going retrenchment in the sector as 9,740 bankers, oil workers have reportedly lost their jobs. Dr.…
- 16 Jul 2014
NDIC Clarifies Position on Liquidation of Insurance Firms
The Nigeria Deposit Insurance Corporation (NDIC) has denied some newspaper reports that the Corporation was seeking powers to liquidate insurance companies and (or) terminate the insurance…
- 20 Oct 2016
Senate Lauds NDIC over Remittance to Consolidated Revenue Fund
The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating…
- 20 Oct 2021
NDIC Begins Review of Deposit Premium Payment for Banks
Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of reviewing deposit insurance premiums for Nigerian banks. According to NDIC, the move is part of efforts to be able to…
- 15 Jun 2010
Insurance and Banking in Nigeria: Any Relationship?
Under the financial services sector, banks and insurance companies fall within the same tripod, alongside the capital market. As the Central Bank of Nigeria continues in its reform of the banking…
- 21 Nov 2013
Terrorist Financing: Banks Meet over Plan for Nationwide Shutdown
National Union of Banks, Insurance and Financial Institutions Employees (NUBIFE) said it will meet today to discuss the planned shut down operations nation wide in protest over the continued…
- 16 Feb 2024
Senate, CIBN Seek to End Malpractices in the Banking Sector
The Senate committee on Banking, Insurance and other Financial Institutions, chaired by Senator Adetokunbo Abiru and the Chartered Institute of Bankers of Nigeria (CIBN) have vowed to sanitize the…
- 16 Aug 2020
Senate Pledges Support for NDIC in Protecting Depositors
The Senate Committee on Banking, Insurance and Other Financial Institutions, has pledged to support the Nigerian Deposits Insurance Corporations (NDIC) to carry out its functions more effectively.…
- 21 Sept 2018
Experts Urge Banks to Invest in Data Authentication to Boost Financial Inclusion
Investing in data authentication and detection software by the banks and other financial institutions would lead to the expansion of loan database, improve services and boost financial inclusion.…
- 24 Mar 2022
Tangerine Africa Offers Female Entrepreneurs Free Access to Insurance Plans
Tangerine Africa a financial institution in Nigeria has launched a campaign tagged #Protecting22Dreams to give hard-working female entrepreneurs free access to essential insurance plans for a year.…
- 21 Jul 2026
Senate Passes Landmark Insurance Reform Bill, Replaces 1997 NAICOM Act
The Senate yesterday recorded two major milestones in Nigeria’s financial sector, passing a landmark Insurance Regulatory Commission Bill to replace the nearly three-decade-old National Insurance…
- 9 Jul 2018
NAICOM to Boost Financial Inclusion with NIIDP
National Insurance Commission (NAICOM), on Monday said it has concluded plans to launch the Nigerian Insurance Industry Development Plan (NIIDP) in order to boost financial inclusion. The commission…