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NAICOM issued fresh operating licences to 43 recapitalised insurance companies. Regulators purged fragile operators to rebuild public trust across the financial sector. Stronger balance sheets allow local underwriters to retain large commercial risks domestically. Capital requirements now shield policyholders against defaults. Higher capital standards signal a firm regulatory shift. Weak operators no longer hold valid…
Investors have pumped over N100bn into Nigeria’s insurance sector as the regulatory recapitalisation exercise enters its critical final phase. Current shareholders are aggressively protecting their equity holdings rather than choosing to merge, dilute stakes, or exit the market entirely. Existing financiers are fully absorbing corporate rights issues and backing targeted private placements. This massive capital…
Criminal networks laundered or stole more than $160 billion through cryptocurrency transactions in 2025. Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), revealed these figures at a United Nations summit in Abuja. He warned that digital assets like Bitcoin now serve as the primary vehicle for moving illicit funds across borders. Weak…
The Central Bank of Nigeria has extended the deadline for commercial banks to automate their anti-money laundering systems. Lenders now have 18 months to meet these baseline standards, while smaller financial institutions have two years. This shift moves the goalposts from a previously proposed 12-month window. The apex bank wants every transaction under its watch…
