Business New

Cornerstone Insurance Plc along with its affiliate, FIN Insurance Company Limited, has been acknowledged by the National Insurance Commission, NAICOM, as part of the group of insurers that have met the recapitalization standards established under the Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025).

Rex Insurance Limited has effectively satisfied the updated minimum capital standards set forth by the National Insurance Commission (NAICOM) in accordance with the Nigerian Insurance Industry Reform Act (NIIRA) 2025, thereby reinforcing its financial stability, improving its underwriting capabilities, and reaffirming its steadfast dedication to policyholders and stakeholders.

The Nigeria Deposit Insurance Corporation, NDIC, has announced the initiation of payments to the depositors of the 46 microfinance banks whose licenses were annulled by the Central Bank of Nigeria, CBN, in July 2026.

The swift advancement in digital finance is surpassing the level of public trust in the financial landscape, leading the Bridgforte Centre for Global Impact to introduce a new governance model and the Trust Lab aimed at enhancing reliance in platform-driven finance.

The Minister of State for Industry, John Enoh, has labeled Aliko Dangote as Nigeria's leading industrial figure and the key element behind the effective rollout of the Nigeria Industrial Policy (NIP). He also mentioned that his department aims to elevate the manufacturing sector's contribution to gross domestic product (GDP) to approximately 20 percent by 2030 and 25 percent by 2035.

Dangote Petroleum Refinery has restarted gantry loading of Premium Motor Spirit (PMS), commonly referred to as petrol, in naira after a week's pause, eliminating the ambiguity in the downstream sector regarding its short-term move to dollar-based sales.