NAICOM, SEC Unite to Enforce NIIRA 2025 Recapitalization Mandate
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has pledged full support to the National Insurance Commission (NAICOM) in its ongoing recapitalization exercise and sector-wide digital transformation. This follows the recent enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025 SEC Director-General, Emomotimi Agama, gave the assurance when he received the Commissioner for […]
NSITF Board Chairman Vows To Protect Fund’s Independence
By Chinedu Echianu The Chairman of the Management Board of the Nigeria Social Insurance Trust Fund (NSITF), Honourable Sola Olofin, has called for the safeguarding of the Fund’s independence in the face of regulatory overreach. Speaking at the 69th Board Meeting of the Fund, held in Abuja, Honourable Olaofin raised concerns over the implications of […]
PenCom Will Strengthen State Partnerships to Protect Retirees – DG
By Oluwakemi Kindness The Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has reaffirm the Commission’s readiness to strengthen partnerships with state governments in order to safeguard the welfare of pensioners across Nigeria. She made this known while receiving the Executive Governor of Kogi State, Ahmed Usman-Ododo, who paid her a courtesy visit […]
ICRC Unveils New PPP Rules to Decentralise Project Approvals
By Oluwakemi Kindness The Infrastructure Concession Regulatory Commission (ICRC) has issued fresh guidelines that decentralise project approvals to Ministries, Departments and Agencies (MDAs) while tightening regulatory oversight. The new framework, unveiled at a high-level stakeholders’ engagement in Abuja, empowers ministries to approve projects under ₦20 billion and agencies or parastatals up to ₦10 billion, following […]
NAICOM Begins Recapitalisation as NIIRA 2025 Increases Capital Floor
By Oluwakemi Kindness The National Insurance Commission (NAICOM) has announced the commencement of a sweeping recapitalisation exercise for insurance and reinsurance companies in Nigeria. This follows the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, signed into law by President Bola Ahmed Tinubu on July 31, 2025. Under the new law, the Minimum […]
Nigeria Customs Vows No Retreat on B’Odogwu Rollout, Warns on Cyberattacks
By Oluwakemi Kindness The Nigeria Customs Service (NCS) has reaffirm its commitment to the full deployment of its Unified Customs Management System (UCMS), codenamed *B’Odogwu*. This is as it warns that recent cyber attacks targeting the platform amount to economic sabotage. Comptroller General of Customs (CGC) Adewale Adeniyi gave the assurance during a high-level stakeholders’ […]
PenCom Plans 75% Salary Pensions, Health Cover for Retired Police
By Oluwakemi Kindness The National Pension Commission (PenCom) has unveiled plans to raise police pensions to 75 per cent of an officer’s final salary before retirement and introduce a health insurance scheme for retired officers, as part of sweeping reforms to the Contributory Pension Scheme (CPS). PenCom’s Director General, Ms Omolola Oloworaran, disclosed the measures […]
NLC Issues Seven-Day Ultimatum to FG Over NSITF, PENCOM Mismanagement
By Chinedu Echianu The Nigeria Labour Congress (NLC) has given the Federal Government seven working days to return allegedly diverted workers’ funds from the Nigeria Social Insurance Trust Fund (NSITF) and to constitute the Governing Board of the National Pension Commission (PENCOM) in line with the law, warning that failure to comply could trigger nationwide […]
Tinubu Approves ₦32,000 Pension Increase, Reforms for DBS Pensioners
By Oluwakemi Kindness Pensioners under the Defined Benefit Scheme (DBS) are set for a significant boost in their monthly earnings as President Bola Tinubu has approved a ₦32,000 pension increase alongside a package of far-reaching welfare reforms. The Pension Transitional Arrangement Directorate (PTAD) announced the development describing it as a landmark step in protecting the […]
Agama Elected IOSCO AMERC Vice Chair, Vows Capital Market Reforms
By Oluwakemi Kindness The Director General of the Securities and Exchange Commission (SEC) Nigeria, Dr. Emomotimi Agama, has been elected Vice Chairman of the Africa/Middle East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO). By virtue of the election, Agama will also serve on the IOSCO Board the apex decision-making body of […]