NAICOM revokes Universal Insurance’s licence, appoints receiver
By Innocent Anaba The National Insurance Commission (NAICOM) has revoked the license of Universal Insurance Plc and appointed a receiver/provisional liquidator to commence the process of winding up the company’s affairs. The cancellation, which took effect on August 14, 2026, followed the company’s alleged failure to meet the prescribed Minimum Capital Requirement (MCR) applicable to its […]
FG seeks reversal of UK trade strategy on Nigeria
The Federal Government of Nigeria has called on the government of United Kingdom and its companies operating in Nigeria, to embrace the new business strategy designed to discourage focus on export of raw materials from Nigeria and encourage export of processed goods for economic transformation.
Electricity: MAN cries out over high tariff, fixed charges
The Manufacturers’ Association of Nigeria, MAN, has cried out to the Federal Government to review the multi-year tariff order, MYTO II, released in June 2014, containing the discriminatory fixed and average charges, saying the charges are suffocating the sector.
Power firms to pay N225m for connection to TCN network
The Transmission Company of Nigeria, TCN has fixed a charge of about N225 million for power firms seeking to modify their connection to its transmission network across the country and also for firms seeking to connect to the network for the first time.
FG to pay oil marketers outstanding arrears
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has pledged to intervene and ensure that outstanding arrears of fuel subvention owed to petroleum marketers are paid before the end of this month.
APM Terminal milks economy of over N60b in 10 months —Agents
The various freight forwarding groups comprising Association of Nigeria Licensed Customs Agents, ANLCA, National Association of Government Approved Freight Forwarders, NAGAFF and National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, operating at the Apapa, have accused largest container terminal operator in the country, APM Terminals of unapproved levy collecting over N60 billion from importers in the last 10 months.
