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The National Insurance Commission (NAICOM) has raised the minimum capital for national microinsurance firms to N3 billion. This sharp increase, contained in the 2026 licensing guidelines, seeks to force financial stability upon a sector designed to serve the poor. Previous requirements for national players stood at just N600 million. Regulators now demand a five-fold increase…
Nigeria has effectively ended its era as a mono-product oil economy. New data from Quartus Economics reveals that between 2010 and 2024, the federation earned N161.1 trillion, with non-oil streams now providing the majority of government income. For the first time in decades, tax and non-oil revenues have eclipsed crude oil as the primary pillars…
Soldiers of Operation Hadin Kai have crippled several insurgent supply chains across the North-East, arresting 16 suspects and intercepting cross-border fuel smuggling. In a series of high-intensity raids between late March and early April, troops disrupted the movement of food, fuel, and explosives intended for Boko Haram and ISWAP camps. These operations targeted key transit…
The Nigerian Exchange Group (NGX) is leading a diplomatic push to unify Africa’s fragmented capital markets through cross-border listings. Group Chairman Umaru Kwairanga and CEO Temi Popoola recently hosted heads of major bourses from Johannesburg, Nairobi, Accra, and Addis Ababa in Lagos. The goal is to move past isolated trading floors toward a single investment…
The World Health Organisation faces a $1.9 billion budget deficit following the formal withdrawal of the United States this January. President Donald Trump initiated the exit a year ago, ending nearly eight decades of American financial leadership. Washington previously provided up to 22 per cent of the agency’s budget, a loss that now threatens global…
Rising energy costs and fractured supply chains are threatening to derail Japan’s fragile economic recovery. In its quarterly report released on April 6, the Bank of Japan (BOJ) warned that the war in the Middle East is beginning to squeeze regional businesses. Policymakers noted that while the domestic economy remains resilient, the closure of the…
Gold prices slipped on Monday as a resurgent dollar and robust American labour data outweighed the geopolitical risk premium from the Middle East. Spot gold fell 0.4 per cent to $4,658.90 per ounce, retreating from recent highs despite the ongoing maritime blockade in the Persian Gulf. Investors are recalibrating their portfolios as the prospect of…
Benjamin Netanyahu has dismissed his acting chief of staff, Ziv Agmon, following a wave of indignation over leaked racist remarks. In a late-night post on X, the Israeli Prime Minister announced that Ido Norden would take the post in the coming days. The exit follows reports that Agmon referred to Jews of Moroccan descent as…
The youth wing of the African Democratic Congress (ADC) has threatened nationwide protests unless the electoral umpire reverses its recent leadership “derecognition.” During a heated press conference in Abuja on Monday, National Youth Leader Balarabe Rufa’i gave the Independent National Electoral Commission (INEC) 72 hours to reinstate David Mark and Rauf Aregbesola as the party’s…
Narcotics agents in Edo State have intercepted a massive haul of “skunk” cannabis as part of a renewed crackdown on regional trafficking hubs. On Monday, the National Drug Law Enforcement Agency (NDLEA) confirmed the seizure of 125 bags of the illicit weed, weighing a total of 1,378kg. The operation took place in the Igbanke community…
