NAICOM Clears Seven More Insurers as Recapitalisation Exercise Ends with 50 Firms Meeting New Capital Rules

Nigeria’s insurance sector has reached a major regulatory milestone after the National Insurance Commission (NAICOM) confirmed that seven additional insurance companies have met the industry’s revised capital requirements, bringing the total number of compliant firms to 50 as the nationwide recapitalisation exercise officially concludes.

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Africa Could Lose Up to $20 Billion as ‘Super’ El Niño Threatens Economies, Food Security and Millions of Livelihoods – AfDB

Africa could suffer economic losses of between $10 billion and $20 billion if forecasts of an exceptionally powerful El Niño weather event materialise, according to the African Development Bank (AfDB), which has warned that the phenomenon could trigger widespread humanitarian crises, economic disruption and large-scale migration across the continent.

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First HoldCo Dominates Trading as NGX Gains N962bn on Banking Rally

The Nigerian Exchange (NGX) closed higher for another consecutive session, with the All-Share Index (ASI) advancing by 0.62 per cent to 243,958.73 points, up from 242,459.98 points recorded in the previous session. The latest rally pushed the market’s year-to-date return to 56.77 per cent, reflecting continued investor confidence despite broader economic uncertainties.

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