Recapitalisation: Foreign Investors Take Over Insurance Firms   Many indigenous underwriting firms have been taken over by foreign investors since the last recapitalisation that took place in the insurance sector, investigation has shown. The National Insurance Commission confirmed that a number of local players in the insurance...

NAICOM Bars Regulated Firms From Borrowing To Recapitalise The National Insurance Company has barred regulated entities from borrowing money to meet their recapitalisation requirements. The Director, (Policy & Regulation), NAICOM, Agboola Pius, said this while speaking on the topic, ‘Recapitalisation roadmap: Implementation, expectation and benefits’, during...

NAICOM Orders Operators To Submit Recapitalisation Plan   The National Insurance Commission (NAICOM) has said sequel to its directive to insurance and reinsurance firms to raise their capital base, operating firms have August 20th, 2019, to submit their recapitalisation plans. Also, firms that have decided to adopt...

Recapitalisation: TCN To Waive N270bn Discos’ Debt Nigeria’s power distribution companies currently owed the Transmission Company of Nigeria N270bn and TCN is willing to forgo this debt in order to have the Discos recapitalised and salvage the sector from collapse. The total indebtedness of the 11...

Power Distributors Issue Condition For Recapitalisation   The Association of Nigerian Electricity Distributors has said the recapitalisation of Discos, being canvassed by the Transmission Company of Nigeria, will happen when investors in the Discos see a pathway of recovering their investments. In his address at the just-concluded...

Recapitalisation: NAICOM, Operators’ Meeting End in Stalemate A meeting between chief executives of insurance firms and the National Insurance Commission (NAICOM) over recent directive for a recapitalisation in the industry ended in deadlock as both parties could not arrive at any conclusion. A source who was...