Reps Urge CBN To Suspend Recapitalisation Of Microfinance Banks       The House of Representatives has urged the Central Bank of Nigeria (CBN) to suspend the planned recapitalisation for microfinance banks until the economy stabilises and considered safe. The House mandated the Committee on Banking and Currency to...

Insurance Sector’s Assets Hit N1.82trn On Recapitalisation Deadline       The Insurance sector’s assets rose by N410bn in one year as the industry attracted new investors. Despite the impact of COVID-19 pandemic on the economy, the insurance industry attracted some investments that boosted its assets, investigation has shown. Many...

NAICOM, NIA Clash Over Recapitalisation Of Insurance Firms       The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms. While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and...

CBN Extends Deadline For Microfinance Banks Recapitalisation   The Central Bank of Nigeria in consideration of the impact of the COVID-19 pandemic on economic activities has revised the deadline for compliance with the minimum capital requirements for microfinance banks in Nigeria. The banking regulator communicated this in...

TCN Vows To Push For Discos’ Recapitalisation   Power distribution companies must be recapitalised for Nigeria’s power industry to work and the Transmission Company of Nigeria has vowed to push for the Discos’ recapitalisation this year. Speaking on some of the company’s targets for 2020 in the...

NAICOM Extends Insurers’ Recapitalisation Deadline To December 2020   The National Insurance Commission has extended the recapitalisation deadline for insurance companies earlier slated for June 30, 2020 to December 31, 2020. The commission disclosed this on Monday in a circular which was signed by the Director (Policy...