30 results
- 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…
- 26 Aug 2025
NIIRA 2025, New Law Offers N2m Medical Compensation for Uninsured Accident Victims
Nigerian Insurance Industry Reform Act (NIIRA) 2025, the new insurance law, has provided up to N2 million in medical compensation for victims of road accidents involving uninsured vehicles. This law…
- 1 Mar 2010
BMI puts Nigerian Insurance Premium Growth at 30%
Business Monitor International, an organisation that provides insurance associations, regulatory bodies and professionals with independent forecasts and competitive intelligence, has stated in its…
- 26 May 2026
History as NAICOM Licenses First Insurtech Firm under New Reform
National Insurance Commission (NAICOM) has granted an operational licence to CBI Partnering Insurtech Ltd, making it the first fully licensed partnering insurtech company in Nigeria. An insurtech…
- 23 Aug 2010
Analyst Decries Nigerians low Appreciation of Life Insurance
Spending in the Life insurance sector has dropped significantly in the last two year. This according to experts is not unconnected with the general decline in the economy which cannot be detached…
- 29 Jun 2010
‘MDRI Would Make Insurance Attractive to Investors’
The needed reforms to put insurance on the front burner will soon usher in an atmosphere that would make insurance attractive to investors. According to the National Insurance Commission (NAICOM),…
- 20 Jul 2026
No Going Back on July 31 Deadline for Insurance Firms' Recapitalisation - NAICOM
National Insurance Commission (NAICOM) has declared that it has no plans to extend the 31 July 2026, deadline for the ongoing insurance industry recapitalisation exercise, asserting that the date is…
- 9 Feb 2026
Lasaco Assurance Gets Shareholders Approval to Advance Capitalization Plans
Lasaco Assurance Plc has received formal commitment letters from shareholders following its recent Extraordinary General Meeting, strengthening confidence in the company’s plan to raise additional…
- 22 Sept 2013
Why We Introduced Oil & Gas Guideline- NAICOM
National Insurance Commission (NAICOM) has said that the introduction of oil and gas guideline for the sector is to increase insurance firms’ market. Mr. Fola Daniel, commissioner for Insurance, who…
- 27 Oct 2025
NAICOM Tightens KYC Rules to Strengthen Market Transparency
The National Insurance Commission (NAICOM) has issued a new directive mandating all insurers and brokers in the country to obtain verifiable identity details, including the National Identification…
- 10 Aug 2026
FG Suspends NAICOM’s N680m Insurance Recapitalisation Fees
Federal Ministry of Finance has halted enforcement of about N680 million in disputed fees imposed by the National Insurance Commission (NAICOM) on NICON Insurance Limited and Nigeria Reinsurance…
- 24 Nov 2025
NAICOM Mandates Insurance Customers to Link NIN, CAC Documents By April 2026
The National Insurance Commission, NAICOM, has directed all individual insurance customers to link their National Identification Number, NIN, to their insurance policies by April 30, 2026. The…
- 12 Apr 2010
NAICOM Poise to Enhance Insurance Status in 3years
Notwithstanding the few giant steps that insurance has taken in the past few years, especially its performance at the stock market and other market indicators, the sector still ranks abysmally low…
- 19 Jun 2026
NAICOM’s 18 Months Management Spill @ African Alliance Ends
The National Insurance Commission (NAICOM) has handed over the management of African Alliance Insurance Plc to a newly constituted board nominated by shareholders. The move ends a regulatory…
- 1 Oct 2025
Cornerstone Insurance Takes over Annuity Business of Defunct Niger Insurance
Cornerstone Insurance Plc, one of Nigeria’s leading insurance providers has taken over the annuity business of defunct Niger Insurance Plc, and will continue to pay its customers on the scheme. Niger…
- 7 Jun 2010
NIA Rises Against Employees’ Compensation Bill
The Nigerian Insurers Association (NIA) has raised its opposition against the Employee Compensation Bill. The bill which is currently awaiting the attention of the National Assembly is seen by…
- 28 Nov 2025
NAICOM Insists on July 2026 Deadline for New Capital Requirement
The National Insurance Commission (NAICOM) has set a July 2026 as the deadline for issuance of license to insurance and reinsurance companies that comply with the new Minimum Capital Requirement…
- 5 Aug 2026
NAICOM Revokes Nigeria Reinsurance’s Licence over Failure to Meet MCR
National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation over its failure to meet the statutory Minimum Capital Requirement (MCR). It has appointed…
- 22 Sept 2025
NAICOM, NCRIB Commit to Drive Penetration
Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance (CFI), has reaffirmed the National Insurance Commission’s (NAICOM) commitment to strengthening collaboration with the Nigerian Council of…
- 8 Mar 2010
Brokers Decry Moves by NSITF to Grab Workmen’s Compensation Act
While the dust raised by proposed laws and regulation of insurance practice as it concerns the brokers is yet to settle, there are indications that individual brokers and the National Council of…
- 23 Sept 2020
NAICOM Urges State Governments to Implement Compulsory Insurance
The National Insurance Commission, NAICOM, is seeking collaboration especially from State Governments on implementation and enforcement of compulsory insurance. Speaking during a meeting with the…
- 11 Mar 2022
NESG Lauds 2021 Finance Act, Seeks Implementation
The Nigerian Economic Summit Group, NESG, has lauded 2021 Finance Act as it enhances non-oil revenue and supports the implementation of Nigeria’s annual budget. This was stated by Laoye Jaiyeola, the…
- 13 May 2020
NAICOM Issues Clarification on N11Bn Free Insurance Policy for Health Workers
National Insurance Commission (NAICOM) has clarified issues around the free N11 billion insurance benefits provided by the sector for health workers fighting against the spread of the COVID-19 in the…
- 8 Feb 2019
Pension Fund Assets Hit N8.6trn – Dahir-Umar
The National Pension Commission (PenCom) says total pension fund assets have grown to N8.63 trillion as at December 2018. Ms Aisha Dahir-Umar, its Acting Director-General, disclosed this at the…
- 6 Nov 2020
Operators Seek Review of Insurance, Pension Investment Legislations
Operators in the real sector as well as the insurance and pension sectors have called for urgent review of legislations guiding investments in various sectors of the economy in order to allow real…
- 20 Feb 2023
FITC Partners CFA to Host National Economic Development Outlook
FITC in collaboration with CFA Society Nigeria, has organized the second edition of the National Economic Development Outlook Series (NEDS) 2023, to equip individuals and organizations with a firm…
- 21 Sept 2010
PENCOM Says Economic Meltdown, Greatest Challenge in Past One Year
Alhaji Mohammad Ahmad, director –general of the National Pension Commission (PENCOM), has identified the effects of the global economic meltdown as the greatest challenge that has confronted…
- 6 Feb 2018
PAL Pensions Reinforces Confidence in Scheme with “Retire with a Smile” Campaign
In accordance with its resolve to inspire confidence and promote a financially secure future among Nigerians, PAL Pensions has unveiled a new campaign tagged ‘Retire with a Smile’ to encourage more…
- 9 Aug 2016
NIPC Signs MOU with Oxford Business Group to Drive Capital Inflows
Nigeria Investment Promotion Commission (NIPC); a government agency mandated with attracting and facilitating foreign investment into Nigeria has signed a memorandum of understanding (MOU) with OBG…
- 5 Nov 2025
Nigerian Lawmakers Engage Crypto Stakeholders on Landmark Regulatory Framework
The House of Representatives Ad-Hoc Committee on the Economic, Regulatory and Security Implications of Cryptocurrency Adoption and Point-of-Sale (POS) Operations in Nigeria recently held a crucial…