Recapitalisation: Companies with outstanding claims will not be relicensed — NAICOM
By Rosemary Iwunze As the insurance recapitalisation deadline of July 31st 2026 draws near, the National Insurance Commission, NAICOM, has stated that it will not re-license any company with outstanding claims. In a letter to all Managing Director/CEOs of insurance companies, issued yesterday, titled: “Regulatory Directive – Settlement of Discharged Claims as A Precondition for Re-Licensing […]
FG, States, LGAs share N26.5trn in 2025
•As oil producing states receive N1.6 trn By Elizabeth Adegbesan The Federal Government (FG), 36 states and 774 local governments shared N26 trillion from Federation Account Allocation Committee (FAAC) revenue in 2025. This represents an 84.2 percent year-on-year (YoY) increase when compared to N14.11 trillion shared in 2024. Vanguard analysis of data in the FAAC […]
Women spend 21% of day on Unpaid Care, men 4% — NBS
Says Unpaid Work gap persists across urban, rural Nigeria By Babajide Komolafe Women in Nigeria spend 21 per cent of their day nearly five hours on unpaid domestic and care work, compared to just 4.1 per cent, or about one hour, spent by men, according to the Nigeria Time Use Survey (NTUS) 2024 released by the National […]
NDIC pays depositors of defunct banks within 72 hours via BVN —Executive Director
By Bashir Bello KANO — The Nigeria Deposit Insurance Corporation, NDIC, said it has settled or reimbursed depositors of defunct banks within 72 hours of their closure. The affected banks include, Heritage Bank Limited, Union Homes Plc and Aso Savings and Loans Plc. Speaking during a one day stakeholders meeting held in Kano, the NDIC Executive […]
UAC records 74% revenue surge, amid one-off acquisition related costs
By Peter Egwuatu UAC of Nigeria Plc, has announced its unaudited financial results for the fourth quarter and year ended 31 December 2025, recording a 74% increase in revenue to N343.4 billion from N196.9 billion in the corresponding period 2024 following the successful completion of its transformational acquisition of C.H.I. Limited alongside continued contributions from […]
NDPHC, KAEDCO deepen partnership to boost power supply in Kaduna
By Sebastine Obasi The Chairman of Kaduna Electricity Distribution Company, KAEDECO, Mr. Aminu Suleiman, and the Managing Director of Niger Delta Power Holding Company, NDPHC, Engr. Jennifer Adighije, have agreed to a sustainable collaboration that would translate into tangible improvements in electricity generation and distribution efficiency in KAEDECO areas of operation. The collaboration was agreed upon […]
