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ROYAL Exchange Plc has moved to distance itself from Royal Exchange Prudential Life Plc (REPRU) following the revocation of the life insurer’s operating licence by the National Insurance Commission (NAICOM). The listed insurer said the regulatory action against REPRU has no bearing on its financial position, operations, assets, liabilities or regulatory status because it ceased […]
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THE Federal High Court Lagos has ordered the National Insurance Commission (NAICOM) and other respondents to refrain from taking further steps that could undermine proceedings over the purported cancellation of Universal Insurance Plc’s operating licence. Universal Insurance disclosed this in a notice to the Nigerian Exchange Limited (NGX) and the investing public on Tuesday, August […]
GUINEA Insurance Plc has announced the successful completion of its recapitalisation programme, saying the exercise has strengthened its financial capacity and positioned the company for its next phase of growth. The insurer disclosed this in a statement issued in Lagos on Friday, assuring shareholders, policyholders, brokers, investors and other stakeholders that it is fully positioned […]
UNIVERSAL Insurance Plc has disclosed plans to raise N7.128 billion in fresh equity capital from FPNG Co-Nvest Limited as it works to complete the ongoing insurance industry recapitalisation process. The insurer disclosed this in a market update issued on August 14, 2026, following a request by NGX Regulation Limited (NGX RegCo) for clarification after a […]
REGENCY Alliance Insurance Plc has announced the successful completion of its recapitalisation process, strengthening its capital base and positioning the company to take on larger risks. The insurer disclosed this in a statement dated August 14, 2026, notifying the Nigerian Exchange Limited (NGX), shareholders, policyholders, brokers and other stakeholders of the milestone. Regency Alliance said […]
SEVENTEEN Ministries, Departments and Agencies (MDAs) of the Nigerian government scored zero point in efficiency assessment carried out by the Presidential Enabling Business Environment Council (PEBEC) in its latest Business Facilitation Act (BFA) Performance Report. This implies that the MDAs are inefficient in rendering services to the people. The agencies of the government involved are: […]
The Office of the Auditor-General of the Federation has accused the management of the National Insurance Commission (NAICOM) of deliberately understating revenue to the tune of N4.047 billion, while also making questionable payment for vehicles. According to the AGF’s 2022 report seen by Economy Post, NAICOM reported N9.241 billion as revenue in 2022 on its […]