October 2, 2025/CSL Research The National Pension Commission (PenCom) has announced a significant increase in the minimum regulatory capital requirements for operators in the Nigerian pension industry. Under the new directive, Pension Fund Administrators (PFAs) must raise their minimum capital base to ₦20 billion (plus 1% of the excess asset […]
Insurance
Insurance Regulator Sets One Year Timeline for Recapitalisation Exercise
August 15, 2025/CSL Research The National Insurance Commission (NAICOM) has given insurance companies a one-year deadline to increase their capital bases in compliance with the recapitalisation requirements outlined in the recently approved Insurance Industry Reform Act. Under the new rules, non-life insurers must raise their capital base from ₦3 billion […]
Insurance Act 2025 – Another Dose to Accelerate Nigerian Economic Prosperity
August 6, 2025/United Capital Report Bottomline: President Bola Tinubu has signed into law the Nigerian Insurance Industry Reform Act (NIIRA) 2025, a landmark legislation that repeals and consolidates several outdated insurance laws into a modern, unified framework. The NIIRA 2025 provides for comprehensive regulation and supervision of all insurance and reinsurance businesses operating within […]
