The National Insurance Commission (NAICOM) has rolled out operational guidelines for Insurtech businesses in Nigeria. This is a step toward regulating and expanding digital innovation in the insurance sector. The move which came after a series of stakeholder engagements NAICOM said is aimed at creating a unified regulatory environment for emerging insurance technology players. According…
The Minister of Regional Development, Abubakar Momoh has urged the leadership of the Southwest Development Commission (SWDC), to prioritise collaboration and shared vision as they assume full responsibilities of their office. The Commission he said, is a crucial part of the government’s national development framework, and urged the duo to bring their wealth of experience…
The African Development Bank (AfDB) has committed $1.2million grant to kick start the Nigeria Battery Energy Storage System Feasibility Study. Its Country Office Director-General, Dr Abdul Kamara disclosed this during the inaugural/inception workshop of the feasibility study in Abuja. Represented by the Chief Engineer, AfDB Nigeria Country Office, Engr. Chigoziri Egeruoh, Director-General said: “This is…
The Federal Ministry of Justice and the Nigerian Communications Commission (NCC) have stressed the need for synergy to address the problems confronting the telecom sector that have led to investment drought. Attorney-General of the Federation and Minister of Justice, Lateef O. Fagbemi, SAN and the Executive Vice Chairman/CEO of NCC, Dr Aminu Maida underscored this…
The Presidency has announced the extension of the tenure of the Comptroller-General of the Nigeria Customs Service (NCS), Mr. Bashir Adewale Adeniyi. The tenure which is due to expire on August 31, 2025, has been extended by one year. A short statement endorsed by Special Adviser to the President (Information & Strategy), Bayo Onanuga, said…
Abu Dhabi and Dubai have emerged the top two positions globally for their investor-friendly tax regimes, legal stability, and strong governance. According to a report titled: Wealth Report 2025: The Taxed Generation, released Tuesday by Multipolitan, a Singapore-headquartered international mobility platform, Singapore secured third place, reinforcing its position as a trusted hub for globally mobile…
The Federal Inland Revenue Service (FIRS) said it has stopped the issuance of tax exemption certificates to all categories of taxpayers, including pioneer status companies, non-governmental organisations (NGOs), and entities operating in free trade zones. In a public notice issued by FIRS, the tax authority said the decision is part of ongoing efforts to ensure…
Dangote Petroleum Refinery and Petrochemicals has withdrawn its lawsuit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company Limited (NNPCL), and five other petroleum companies. The case, filed at the Federal High Court Abuja, was formally withdrawn by the plaintiff’s legal team. According to a notice of discontinuance filed…
Fintech sector alone attracted 45per cent of all funding (exc. exits) in first half (H1) of this year, netting in around $640million, according to a new report from Africa: The Big Deal. This is in line with what was seen last year (47per cent) but higher than in previous years. The report noted that if…
