News
Insurance isn't only for the rich - Here's why every Nigerian needs it
1+ hour, 4+ min ago (334+ words) By: Adenike Ibirogba Date: 22 May 2026 1: 02pm WAT The average Nigerian believes Insurance'is for "big men, something you do only when you have excess cash to spare. However, here is the reality: if a fire breaks out in a shop or a…...
CBN raises ATM card fee to "1, 500
3+ week, 6+ day ago (437+ words) By: Priscilla Iwedike Date: 24 April 2026 4: 26pm WAT Central Bank of Nigeria headquarters, Abuja. Nigerians may soon pay more for one of the most basic banking tools " the ATM card " following a proposed revision of charges across the financial system by the…...
FCT expands health insurance coverage for journalists
2+ mon, 1+ week ago (606+ words) By: Sodiq Omolaoye Date: 15 March 2026 9: 04am WAT FCT Health Insurance Scheme (FHIS). The Federal Capital Territory Administration (FCTA) has expanded health insurance coverage for journalists in Abuja, with about 480 media professionals now captured under the FCT Health Insurance Scheme (FHIS). The…...
Groups align on inclusive insurance for grassroots merchants
3+ mon, 1+ week ago (283+ words) By: Bankole Orimisan Date: 9 February 2026 3: 38am WAT In a move that highlights the growing convergence of fintech and insurance in Nigeria, Paga has partnered with Leadway Assurance to provide tailored insurance solutions for Doroki merchants. The partnership will give merchants access…...
Compulsory insurance falters, struggles with low penetration
3+ mon, 1+ week ago (681+ words) By: Bankole Orimisan Date: 9 February 2026 4: 33am WAT More than three decades after Nigeria enacted laws making several classes of insurance compulsory, the segment continues to struggle with low adoption, with penetration remaining below one per cent of Gross Domestic Product (GDP)....
Nigerian insurers oppose tax breaks for foreign firms
4+ mon, 1+ week ago (407+ words) By: Bankole Orimisan Date: 12 January 2026 4: 10am WAT A proposal to exempt foreign insurance companies from paying tax on premiums generated from insurance business written in Nigeria has triggered concern in the insurance industry. Operators have warned that such a move could…...
NAICOM, NCRIB step up coordination to drive insurance reform
7+ mon, 4+ week ago (353+ words) By: Bankole Orimisan Date: 23 Sep 2025 The National Insurance Commission (NAICOM) and the brokers" body have agreed to deepen cooperation as the sector prepares for sweeping regulatory changes and a push to expand coverage among households and businesses in the country....
70m uninsured informal workers pose risk to economy
7+ mon, 3+ week ago (131+ words) By: Bankole Orimisan Date: 30 Sep 2025 ALSO speaking at the forum, former Commissioner for Insurance, Sunday Thomas, corroborated the losses and urged operators to simplify processes, adopt digital technology, and consider setting up micro PFAs (Pension Fund Administrators) embedded within communities…...
Private sector must take proactive role in shaping reforms, says Coronation Insurance MD
10+ mon, 1+ week ago (320+ words) By: Guardian Nigeria Date: 14 Jul 2025 The Managing Director and Chief Executive Officer of Coronation Insurance Plc, Olamide Olajolo, has called on the organised private sector to take a proactive role in shaping Nigeria's economic reforms rather than merely responding to…...