Buhari Canvasses $1bn Recapitalisation Of African Energy Corporation   Nigeria’s President, Muhammadu Buhari, on Thursday charged the Council of Ministers of African Petroleum Producers’ Organisation to support the recapitalisation of the African Energy Investment Corporation to $1bn. Buhari, who spoke at the extraordinary session of the council...

Insurers To Raise N50bn New Capital For Recapitalisation   Out of the 58 insurance companies in the nation’s economy, seven have reached to their investors to mobilise a cumulative sum of N50 billion new capital to meet June 2020 recapitalisation deadline.While others are still fine-tuning strategies...

NAICOM Approves Recapitalisation Plans Of 44 Insurance Firms   The National Insurance Commission (NAICOM) has approved the recapitalisation plans of 44 out of the 54 Insurance companies in Nigeria. Mr Agboola Pius, Director, Policy and Regulation, NAICOM, said this yesterday at an interactive session with shareholders to...

Recapitalisation: Wapic Insurance Wants N5.9bn Capital Raise   Wapic Insurance Plc has revealed its plans to raise N5.9bn through a rights issue. This comes after the recent increase in the minimum share capital of insurers by the National Insurance Commission. On May 20, NAICOM issued a circular on...

Recapitalisation, Micro-insurance Hold Key To Sector’s Growth   Nigeria’s insurance industry has not shared in the growth experienced by other Nigerian financial services, notably banks, pension funds and mutual funds. In fact, it has hardly grown in real terms over 10 years. This is the position of...

Recapitalisation: NAICOM Solicits Agencies' Support For Insurers   The National Insurance Commission is engaging other regulatory bodies on how to assist the insurance companies to meet up with its recapitalisation requirements. The Acting Commissioner for Insurance, Mr Sunday Thomas, said this during a one-day conference on the...