Speaking during a virtual press briefing, the President and Chairman of the Institute’s Governing Council, Yetunde Ilori, said this year’s campaign will begin with Jumat prayers on Friday, May 15, which will serve as a prelude to the Insurance Awareness Walk on Saturday, May 16. The walk will commence from the premises of NEM Insurance Plc along Obanikoro Road, Lagos, and end at the National Stadium.

She added that a church service will be held on Sunday, leading to the official opening ceremony on Monday, May 18. Tuesday will feature a series of engagements with MSMEs and schools, while Wednesday will be dedicated to further engagements with market segments. Thursday will feature a hackathon, while Friday, May 22, will host the grand finale, gala night, awards, and ambassador event.

The CIIN revealed that unlike the maiden edition of the programme, where activities were concentrated in selected cities and towns, the 2026 edition will see all state chapters of the institute staging events and activities aimed at sensitising the public.

She explained that the initiative was introduced to create more awareness about the relevance of insurance, encourage engagement among stakeholders, and improve public perception of the sector.

Following the success of the maiden edition held simultaneously in Lagos, Ibadan, Port Harcourt, and Kano last year, Ilori said the 2026 programme would expand to include Ekiti, Abuja, Ondo, Owerri, and Abeokuta.

According to her, the activities lined up for the week are designed to project the insurance industry positively, educate Nigerians on the advantages of insurance coverage, and support capacity development among professionals in the field.

Ilori stressed the need for greater public education to address widespread misconceptions about insurance, noting that the industry must engage directly with communities rather than rely solely on office-based campaigns.

She added that introducing younger generations to insurance careers and opportunities remains a major focus of the programme, with the aim of building future talent for Nigeria and the West African sub-region.

Among the activities scheduled for the week are a health and awareness walk, the presentation of two insurance books for primary schools, panel sessions featuring non-insurance professionals discussing their views about the industry, recognition awards for individuals and organisations, the appointment of industry ambassadors, school and MSME engagement programmes, as well as a hackathon demonstration event.

Ilori further expressed confidence that the event would represent another major step forward for the insurance industry, adding that the planned programmes are intended to leave a lasting impact on practitioners, policyholders, and the general public.

She also thanked media organisations for supporting the maiden edition and appealed for continued partnership ahead of the 2026 programme.

Reflecting on last year’s event, she noted that the initiative produced encouraging outcomes, including requests from filmmakers for customised insurance products, improved inclusiveness through the hackathon, and increased patronage recorded by insurance companies and microinsurance agents.

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BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM) has reaffirmed its commitment to strengthening enforcement within Nigeria’s insurance industry and protecting consumers from unauthorized and predatory practices following a strategic engagement with the Association of Registered Insurance Agents of Nigeria (ARIAN).

The commitment was reiterated during a courtesy visit by the leadership of ARIAN, led by its President, Olatubosun Mayowa, to the Commissioner for Insurance, Olusegun Ayo Omosehin, at NAICOM’s headquarters.

During the meeting, NAICOM emphasized its resolve to uphold regulatory standards and sanitize the insurance market through firm and coordinated enforcement actions. The Commission stressed that protecting consumers and preserving market integrity remain central to its mandate.

Speaking during the engagement, Mayowa expressed ARIAN’s commitment to supporting NAICOM’s regulatory and enforcement initiatives.

He noted that the association’s grassroots presence across the country positions it to provide credible market intelligence, strengthen consumer protection, and assist in identifying and removing unscrupulous operators from the market.

As part of the outcomes of the engagement, NAICOM pledged to implement immediate and coordinated enforcement measures to tackle persistent market abuses, including unlawful rate-cutting, misrepresentation, and the mis-selling of insurance products by unlicensed entities.

Omosehin stated that such practices continue to undermine consumer confidence and threaten the stability of the insurance sector.

The Commissioner for Insurance also highlighted the importance of strengthening insurance distribution channels through proper licensing and strict compliance measures. Both NAICOM and ARIAN reaffirmed their commitment to capacity building for insurance agents and improving digital onboarding processes.

ARIAN further pledged to intensify its training programmes to increase the number of duly licensed insurance agents and support members experiencing challenges with NAICOM’s digital platforms.

To boost public awareness, Omosehin disclosed that the Commission would spearhead joint media and consumer education campaigns aimed at helping Nigerians identify genuine motor insurance policies, verify licensed insurers, and report suspected fraud or mis-selling through official channels.

Both organizations also agreed to sustain regular operational engagements and periodic reviews to ensure effective implementation of agreed actions and strengthen transparency within the insurance industry.

Reiterating NAICOM’s broader policy direction, the Commissioner stressed the need to promote healthy and transparent distribution networks to encourage legitimate participation and deepen insurance penetration nationwide.

He warned that the Commission would act decisively against all forms of infractions, emphasizing that unlicensed entities must not underwrite regulated insurance products.

Omosehin also urged Nigerians to remain vigilant by verifying the licensing status of insurers, reviewing policy documents carefully, and promptly reporting suspicious activities, including forged documents, unauthorized sellers, and unusually low premiums, through NAICOM’s official complaint channels.

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The team was welcomed by the Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, during the meeting held yesterday.

During the engagement, officials of both regulatory institutions exchanged views on key industry issues, including consumer protection, spectrum management, cybersecurity, infrastructure development, and policies aimed at accelerating digital economy growth.

The discussions also highlighted the importance of stronger cooperation among African telecom regulators in building resilient communications networks and expanding access to digital services across the continent.

During the discussions, Maida reiterated the NCC’s dedication to regional partnerships and the exchange of expertise to support Africa’s digital growth objectives.

He stressed that stronger cooperation among telecommunications regulators across the continent is essential for developing reliable communications systems and widening access to digital opportunities.

In his remarks, Zame praised the NCC for its accomplishments in telecom regulation and the significant progress achieved within Nigeria’s telecommunications industry. He described the visit as a valuable learning experience for Cameroon’s regulatory agency to observe effective regulatory practices and apply suitable strategies to improve the sector in Cameroon.

The engagement further highlights the increasing collaboration among African telecom regulatory bodies in encouraging innovation, aligning regulatory frameworks, and fostering long-term growth within Africa’s digital landscape.

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The budget proposal passed its third reading during Thursday’s plenary after lawmakers reviewed and adopted the report of the Senate Committee on the FCT concerning the 2026 Appropriation Bill.

While the proposal enjoyed overwhelming backing from senators, a number of legislators expressed reservations over the revenue assumptions driving the budget.

They maintained that disclosing detailed revenue projections would promote openness and strengthen fiscal responsibility in the administration of public resources.

Commenting on the debate, the Senate President echoed the lawmakers’ position, stressing the need for transparency and proper oversight in the execution of the budget.

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The operation followed a distress report received in the early hours of 7th May 2026 regarding an attack carried out by armed hoodlums who invaded the community on the night of 6th May 2026, shooting sporadically and causing panic among residents.

During the attack, the assailants reportedly stormed the residences of two residents and abducted two victims to an unknown destination.

Upon receipt of the report, police operatives of the Nasarawa State Command, in collaboration with other security agencies and local community youths, swiftly mobilized to the area and launched coordinated operations which led to the arrest of eight suspects linked to the incident.

The suspects include: Adamu Alfa, Muhammed Alfa, Shuaibu Alfa, Usman Alfa, Ali Alfa, Isa Alfa, Adamu Alfa, and Ja’afaru Alfa, all from Rugan Alhaji Alfa, Rukubi Village.

During the operation, security operatives recovered two AK-47 rifles, four Bajaj motorcycles, and two expended 7.62mm ammunition shells connected to the attack.

The Force further confirmed that one of the suspects sustained fatal injuries during the encounter and was later confirmed dead while receiving medical treatment.

The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, commended the gallantry and professionalism displayed by the operatives involved in the operation, describing the success as a strong demonstration of the effectiveness of intelligence-led policing and inter-agency collaboration in combating violent crimes, while also appreciating the invaluable support of sister security agencies , local vigilante groups, community youths, and residents whose cooperation significantly contributed to the successful outcome of the operation.

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At the signing ceremony held in Lagos, the insurer executed the transaction documents for the proposed offer effectively concluding the preparation phase of the offer and paving the way for existing shareholders to participate in the capital raise ahead of an anticipated market launch in the coming weeks, subject to final approval by the Securities and Exchange Commission (SEC).

Under the proposed rights issue, the Company plans to issue 2,666,666,667 ordinary shares of 50 kobo each at ₦1.20 per share on the basis of one new ordinary share for every six ordinary shares currently held by shareholders.

The Company disclosed that only shareholders whose names appeared on the register of members as of the close of business on March 30, 2026, will qualify to participate in the offer.

Speaking at the event, the Chairman of Universal Insurance Plc, Barr. Jasper Osita Nduagwuike, said the Company has maintained steady growth over the past five years and expressed confidence in its future prospects.

He described the offer as a strong investment opportunity, noting that the Company’s resilience over more than six decades demonstrates its enduring strength within the Nigerian insurance industry.

“We have a very solid foundation. For a Company that has spent over 60 years in the industry, survived economic cycles and industry challenges, and is still standing strong, it speaks volumes about our resilience,” he said.

According to him, Universal Insurance remains one of the few insurance companies established in the early 1960s that is still operational and continuing to grow stronger.

Nduagwuike added that the ongoing recapitalisation exercise would further strengthen the Company’s operations, improve its competitiveness, and enhance its market share.

He also urged stakeholders and shareholders to support the offer and ensure it is oversubscribed.

If fully subscribed, the rights issue is expected to strengthen the Company’s capital base, improve its underwriting capacity, reinforce its financial position, and support strategic growth initiatives aimed at improving operational efficiency and deepening its market presence.”

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The former minister, who was absent in court, was prosecuted by the Economic and Financial Crimes Commission for money laundering to the tune of N33,804,830,503,73( Thirty Three Billion, Eight Hundred and Four Million, Eight Hundred and Thirty Thousand, Five Hundred and Three Naira, Seventy Three kobo)
Count one of the charges reads:

“That you, SALEH MAMIVIAN {Male), sometime in 2019, in Abuja, within the jurisdiction of this Court, whilst you were the Minister of Power conspired with other officials of your Ministry and some private companies to indirectly convert the total sum of =N=33,804,830,503.73

{Thirty-Three Billion, Eight Hundred and Four Million, Eight Hundred and Thirty Thousand, Five Hundred and Three Naira, and Seventy-Three Kobo) through various private companies which sums you reasonably ought to have known formed part of the proceeds of unlawful activity, to wit: criminal breach of trust in relation to the funds released for the Mambilla and Zungeru Hydroelectric Power Plant Projects by the Federal Government of Nigeria; and you thereby commit an offence contrary to Sections 18(a), 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 {as Amended), and punishable under Section 15(3) of the same Act.”
Count two reads:

“That you, SALEH MAMMAN (Male), sometime in December 2019, in Abuja, within the jurisdiction of this Court, conspired with SAMSON BITRUS to make a cash payment of US$665, 700:00 (Six Hundred and Sixty-Five Thousand and Seven Hundred United States Dollars) to MOHIBA INVESTMENT LTD (acting through Mohammed Asheik Jidda), without going through a financial institution, and that you thereby commit an offence contrary to Sections 1 and 18(a) of the Money Laundering (Prohibition) Act, 2011 (as Amended), and punishable under Section 16(2)(b) of the same Act.”

Justice Omotosho had slated the judgment for Thursday after parties in the case were duly served with hearing notices.
However, when the matter was called, the ex-minister was not in court.

Defence counsel, Mohammed Ahmed, informed the court that, although his team was duly informed that the matter would be coming up for judgment on Thursday, they had been unable to get in touch with him.

“My Lord, the defendant is not in court. We received a message that the matter is for judgment, and it was delivered on Tuesday.

“Since then, we have been trying to reach him (Mr Mamman), but all efforts made have not been successful. But yesterday, one of his associates informed us that he is indisposed,”

EFCC Counsel, Rotimi Oyedepo, SAN, confirmed that the prosecution received the hearing notice and that judgment was scheduled for Thursday. He faulted Ahmed’s claim that Mamman was ill, stressing that there was no evidence to back up his submissions.

The prosecution lawyer said that under the Administration of Criminal Justice Act 2015, the court has the discretionary power to proceed with the judgment.

After lengthy arguments between the prosecution and defence counsel, Justice Omotosho frowned at Ahmed’s back and forth on the whereabouts of the former minister
“The defendant is not here, and there is no medical report to back this. We are all ministers in the temple of justice counsel,” the judge said.
Mr Oyedepo then urged the court to proceed with the judgment.

Justice Omotosho eventually handed down the judgment, convicting Mamman of the 12-count charges of money laundering. He also deferred his sentence to May 13, 2026 because the former Minister was not physically present in court.
To preempt his escape from the country before being sentenced, Oyedepo applied for a bench warrant for his arrest so as to be produced in court and the prayer was answered

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The clarification was made during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns over the absence of dividend payments despite strong earnings growth.

The Group stated that the decision not to pay dividends was not due to weak earnings or cash flow challenges, but was tied to regulatory and prudential compliance issues that must be resolved before approvals can be granted. Group Managing Director/CEO, Innocent C. Ike, noted that the company remains committed to rewarding shareholders and maintaining its long-standing record of consistent dividend payments.

Access Holdings recorded strong growth in its 2025 financial results. Gross earnings rose by 13.3 percent to ₦5.53 trillion, driven by growth in net interest income and a 40.9 percent increase in fees and commissions to ₦585.07 billion. Profit before tax grew by 16.2 percent to ₦1.01 trillion, marking the first time the Group crossed the ₦1 trillion threshold in profit before tax.

The Group’s total assets expanded by 24.2 percent to ₦51.56 trillion, supported by the successful integration of newly acquired subsidiaries. Its cost-to-income ratio improved from 56.7 percent to 51.7 percent due to disciplined cost management, while capital adequacy remained strong at 18.2 percent at the holding company level and 20.2 percent for the banking subsidiary.

Access Holdings explained that while dividends were proposed at both half-year and full-year stages in 2025, regulatory approvals were not secured. The half-year issue related to Section 7.1 of the CBN Guidelines for Financial Holding Companies, which has now been resolved through a successful private placement. However, at full-year, another issue arose under Section 19(8)(c) of BOFIA concerning limits on investments in foreign banking subsidiaries relative to shareholders’ funds.

The Group said it has been granted a 12-month window to address the issue and plans to partially divest from some banking subsidiaries while retaining majority ownership. Management assured investors that Access Holdings remains focused on regulatory compliance, capital strength, and sustainable long-term value creation, with the goal of restoring dividend payments once all conditions and approvals are satisfied.

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The incident was reported in the early hours of Wednesday, 6th May 2026, following a distress call by a driver who was accosted while conveying motor spare parts.

Preliminary findings revealed that the driver was intercepted by suspected hoodlums at the Oke-Ado area of Ijebu North Local Government Area of Ogun State, where the truck was forcefully taken from him.

Upon receipt of the report, detectives, in collaboration with highway patrol operatives, swiftly mobilized to the scene, forcing the suspects to abandon the truck and flee under pressure.

The prompt intervention of the police effectively thwarted the criminal operation and prevented the loss of property.

The driver, who sustained minor injury to his right ankle during the incident, was promptly administered first aid treatment.

A thorough search of the recovered truck led to the discovery of a wooden-fabricated rifle wrapped with black tape, used by the suspects in the operation.

Operatives are actively tracking the fleeing suspects with a view to their swift arrest and prosecution.

The Commissioner of Police, Ogun State Command, CP Bode Ojajuni, psc, FCSS, MNIPR, commends the swift and professional response of the operatives and reassures the public of the Command’s unwavering commitment to ensuring the safety of all road users and residents.

Members of the public are urged to remain vigilant and report suspicious activities through the Ogun State Police Command emergency lines: Gateway Shield (Toll-Free): 0800 000 9111; Emergency numbers: 0906 283 7609, 0912 014 1706, 0915 102 7369, and 0708 497 2994

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