…retracted claims that NAICOM made unlawful demands during Nigeria's ongoing insurance recapitalisation exercisePAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Abuja, FCT - The Coalition for Good Governance in Nigeria (CGGN) has publicly withdrawn its earlier ca…

…President Tinubu signed NIIRA 2025 into lawThe network acknowledged disputes over the recapitalisation process involving NICON Insurance and Nigeria Reinsurance Corporation but took a firm stance on due processPAY ATTENTION: Find it fast with our new search feature at Legit.ng! A parliamentary group and a civil society…

…Insurance Industry Reform Act (NIIRA) 2025 should not be viewed as the end of the recapitalisation process but as a new baseline for sustainable operations. “This confirmation is a moment worth marking, but it is not the finish line. NAICOM has set a new baseline for what it means to operate responsibly in this industr…

…including the unification and increased transparency of the foreign exchange market, recapitalisation of the banking sector, introduction of the non-resident Bank Verification Number (BVN), the B-Match platform for foreign exchange trading and the Nigeria Payments System Vision 2028. She also cited the implementation o…

NAICOM revoked Universal Insurance Plc's operating licence after the company failed to meet the minimum capital requirementThe commission appointed Ogbonna Chukwumerije of Pinheiro LP as receiver/provisional liquidatorChukwumerije issued a public notice warning banks, policyholders and creditors not to act on any instr…

…of the banks reflects the substantial repricing of banking stocks following the sector’s recapitalisation exercise and improved investor sentiment towards the financial sector. Top capitalised consumer goods coys In the consumer goods segment, BUA Foods led with N13.69 trillion in market capitalisation. Presco followed…

…(FICAN) 36th Anniversary Annual Conference. The event, themed “Building on the Gains of Recapitalisation, Tax Reform and Fintech Revolution,” will hold at Orchid Hotels, Dreamworld […] The post Bank recapitalisation, tax reform, fintech top agenda as industry leaders gather in Lagos for FICAN conference appeared first…

Guinea Insurance Plc has completed its recapitalisation programme, cleared a major regulatory hurdle and positioned the insurer to pursue new business opportunities with a stronger capital base. The company announced the development on Friday, saying that it had successfully concluded its rights issue and private place…

…now stands well above the benchmark established for life insurers under the industry’s recapitalisation framework, providing the company with operational headroom that analysts say few of its peers can match. For Akerele, the stronger balance sheet is less about clearing a regulatory bar and more about driving future g…

…The report attributed the market rally partly to improved macroeconomic credibility, the recapitalisation of banks and a growing pool of domestic institutional investment. Nigeria’s external reserves also rose sharply during the period under review. According to the NRS report, reserves increased from an unrestricted $…

…market,” the presidency stated. The presidency also linked the NGX’s gains to the recapitalisation of the country’s banking sector in 2026. Presidency reacts as NGX-listed Nigerian firms record N14.40tn revenue

…reforms implemented by the apex bank over the past 34 months, including banking sector recapitalisation, the launch of the Non-Resident Bank Verification Number (NRBVN), the B-Match foreign exchange trading platform, the Nigeria Payments System Vision 2028 and the introduction of the Nigerian Overnight Financing Rate b…

…and Iran in the Middle East. Ajayi-Kadir reported that the association advocated the recapitalisation of the Bank of Industry, the creation of additional concessionary lending windows for manufacturers, lower import costs for industrial machinery and essential raw materials, and long-term development finance to support…

…profits of Nigeria’s surviving banks have risen 12 times since the landmark 2005 banking recapitalisation led by former Central Bank of Nigeria Governor, Chukwuma Soludo, an analysis by THE PUNCH has shown. The recapitalisation, which raised the minimum capital requirement for banks to N25bn, reduced the number of lend…

…not wait until those opportunities have passed.” Cardoso also defended the ongoing bank recapitalisation programme, explaining, “Stronger capital bases will enable Nigerian banks to finance larger investments across Africa while significantly improving our financial system’s overall resilience.” “The Monetary Policy Co…

…should say so. If customers are inactive, the market should know. If the business needs recapitalisation, network renewal, repositioning or strategic rescue, clean data makes that diagnosis more honest. Painful truth is better than comforting fiction. Then there is Globacom. Glo’s reported reduction was the most dramat…