Commodities Export Will Grow Nigeria’s Economy – SEC   The Securities and Exchange Commission (SEC) has said that Nigeria has various commodities that could be exported in a bid to grow the country’s economy, provide jobs as well as provide the nation with foreign exchange earnings. The...

Insurance Claims Now N1.5trn - NAICOM   Insurance companies paid N1.5trn claims in six years as businesses increased. The biggest advertisement needed to promote insurance patronage is prompt claims settlement according to industry experts. The Nigerian underwriting companies have so far paid N1.5tn claims to their customers in...

FG Loses N44bn as Insurers Breach Local Content Law Nigeria’s local insurance firms lost about N81.8 billion to their foreign counterpart instead of N37.8 billion as provided by the relevant local content law on oil and gas insurance in 2022. The law stipulated that 70 percent...

NAICOM Issues Conditions For Payment Of Dividends To Insurance Sector Investors   The National Insurance Commission (NAICOM) has listed conditions under which payment of dividends to shareholders in insurance shares will be made. NAICOM said any dividend distribution shall be subject to submission of prior written application...

Insurance Industry Assets Hit N2.3trn - NAICOM   The total assets of the country’s insurance industry have increased to N2.3 trillion in the second quarter of 2022, growing by 11.9 per cent or N200 billion from the second quarter of 2021. The non-life business assets stood at...

Buhari Commends CBN, NDIC, SEC, Others On Financial System Stability   President Muhammadu Buhari yesterday commended the Central Bank of Nigeria (CBN), alongside the Nigeria Deposit Insurance Corporation (NDIC), the National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC), including other critical stakeholders for...