FAAC Disburses N2trn to Three Tiers of Government in July
By Oluwakemi Kindness The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.001 trillion as July 2025 Federation Account Revenue to the Federal Government, states, and local government councils. The allocation was made at the FAAC meeting held in Abuja on Friday, according to a communiqué issued after the session. The N2.001 […]
FG Eyes N24bn Savings with BisonFly Project
By Oluwakemi Kindness The Federal Government has directed the speedy implementation of the BisonFly Project, a cost-cutting initiative projected to save between N18bn and N24bn annually in official air travel expenses across the Federal Civil Service. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the charge on Thursday in Abuja during […]
NAICOM, Police Raid Fake Motor Insurance Dealers in Abuja
By Oluwakemi Kindness The National Insurance Commission (NAICOM), in collaboration with the Nigeria Police Force, has launched a major crackdown on individuals peddling fake motor third-party insurance policies in Abuja. The crack down led by its Motor Third-Party Insurance Enforcement Committee, NAICOM operatives, supported by the police, stormed the Mabuchi area of the Federal Capital […]
NAICOM, SEC Unite to Enforce NIIRA 2025 Recapitalization Mandate
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has pledged full support to the National Insurance Commission (NAICOM) in its ongoing recapitalization exercise and sector-wide digital transformation. This follows the recent enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025 SEC Director-General, Emomotimi Agama, gave the assurance when he received the Commissioner for […]
NSITF Board Chairman Vows To Protect Fund’s Independence
By Chinedu Echianu The Chairman of the Management Board of the Nigeria Social Insurance Trust Fund (NSITF), Honourable Sola Olofin, has called for the safeguarding of the Fund’s independence in the face of regulatory overreach. Speaking at the 69th Board Meeting of the Fund, held in Abuja, Honourable Olaofin raised concerns over the implications of […]
PenCom Will Strengthen State Partnerships to Protect Retirees – DG
By Oluwakemi Kindness The Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has reaffirm the Commission’s readiness to strengthen partnerships with state governments in order to safeguard the welfare of pensioners across Nigeria. She made this known while receiving the Executive Governor of Kogi State, Ahmed Usman-Ododo, who paid her a courtesy visit […]
ICRC Unveils New PPP Rules to Decentralise Project Approvals
By Oluwakemi Kindness The Infrastructure Concession Regulatory Commission (ICRC) has issued fresh guidelines that decentralise project approvals to Ministries, Departments and Agencies (MDAs) while tightening regulatory oversight. The new framework, unveiled at a high-level stakeholders’ engagement in Abuja, empowers ministries to approve projects under ₦20 billion and agencies or parastatals up to ₦10 billion, following […]
NAICOM Begins Recapitalisation as NIIRA 2025 Increases Capital Floor
By Oluwakemi Kindness The National Insurance Commission (NAICOM) has announced the commencement of a sweeping recapitalisation exercise for insurance and reinsurance companies in Nigeria. This follows the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, signed into law by President Bola Ahmed Tinubu on July 31, 2025. Under the new law, the Minimum […]
Nigeria Customs Vows No Retreat on B’Odogwu Rollout, Warns on Cyberattacks
By Oluwakemi Kindness The Nigeria Customs Service (NCS) has reaffirm its commitment to the full deployment of its Unified Customs Management System (UCMS), codenamed *B’Odogwu*. This is as it warns that recent cyber attacks targeting the platform amount to economic sabotage. Comptroller General of Customs (CGC) Adewale Adeniyi gave the assurance during a high-level stakeholders’ […]
PenCom Plans 75% Salary Pensions, Health Cover for Retired Police
By Oluwakemi Kindness The National Pension Commission (PenCom) has unveiled plans to raise police pensions to 75 per cent of an officer’s final salary before retirement and introduce a health insurance scheme for retired officers, as part of sweeping reforms to the Contributory Pension Scheme (CPS). PenCom’s Director General, Ms Omolola Oloworaran, disclosed the measures […]