Israel Ojoko

NICON Insurance Limited and Nigeria Reinsurance Corporation are fighting a “lost battle” in their dispute with the National Insurance Commission (NAICOM) over the recently concluded insurance sector recapitalisation exercise, a source at the regulator has said.

The Federal Government has unveiled the National Agricultural Mechanisation Policy and the National Agricultural Mechanisation Investment Strategy to promote sustainable mechanisation, attract private investment and boost productivity in Nigeria's agricultural sector.

The Securities and Exchange Commission (SEC) has set 5:00 p.m. on Trade Date plus One (T+1) as the settlement deadline for equities and commodities transactions in Nigeria's capital market.

Experts have described the recently concluded insurance recapitalisation exercise as a critical step necessary to build a stronger industry with a capacity to underwrite bigger risks, while cautioning that operators dragging their regulator to court may not augur well for the industry.

The National Insurance Commission (NAICOM) says seven additional insurance companies have been verified for the minimum capital requirements under Nigerian Insurance Industry Reform Act (NIIRA 2025).

Fortis Global Insurance Plc has appointed Dr. Umar Faruk Umar and Mr. Ufuoma Ibru to its Board of Directors as Independent Non-Executive Director and Non-Executive Director, respectively.

Dangote Sugar Refinery Plc has successfully raised N485.9 billion through its Rights Issue after investors fully subscribed to the offer.

Universal Insurance Plc has entered into a binding investment agreement with FPNG Co-Nvest Limited for a N7.128 billion equity investment as the insurer moves to meet the National Insurance Commission's (NAICOM) new minimum capital requirement.

Pension contributions under Nigeria's Contributory Pension Scheme (CPS) declined by 38% in the first quarter of 2026, according to data released by the National Pension Commission (PenCom).

The National Pension Commission (PenCom) says it will not meet its Personal Pension Plan (PPP) target of 30% funded accounts by Q4 2026, citing a persistent funding gap and weak savings culture.