The suspects, identified as 34-year-old Nurudeen Ganiu, 38-year-old Oluwaleke Fagbula, 41-year-old Emmanuel Silas, and 41-year-old Nurudeen Abdullahi, were apprehended during a midnight initiation ceremony in the Egbeda area of Lagos State.

Acting on credible intelligence, police operatives launched a covert raid that disrupted the ring and led directly to their capture.

During the successful operation, law enforcement officers recovered one locally made cut-to-size pistol, one English Beretta pistol loaded with ten rounds of live ammunition, and a jackknife.

Further investigation by the Command revealed that one of the apprehended suspects is a notorious gang kingpin who was rusticated from a university in Ogun State in 2022 due to his involvement in cult activities. Police findings established that the gang has been deeply involved in local thuggery and has consistently terrorized residents of Egbeda and neighboring communities.

The suspects confessed to being active members of the Eiye Confraternity, a notorious secret cult group. Their standard mode of operation involved using motorcycles to launch swift attacks on unsuspecting members of the public and disrupting social gatherings at gunpoint.

The Commissioner of Police for the Lagos State Command commended the operatives for their professionalism and swift tactical response during the midnight raid. Reassuring residents of the state, the Commissioner emphasized that the Command remains steadfast in its resolve to combat cultism and eliminate violent crimes across Lagos. Members of the public were urged to stay vigilant and continue assisting law enforcement by reporting suspicious activities through the Command’s dedicated emergency lines.

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The enhanced online platform is designed to offer customers a faster, more intuitive, and seamless digital experience, making it easier to engage with the company’s insurance products and services remotely at any time.

During this initial phase of deployment, the platform enables users to purchase selected General Insurance products directly online, establish secure personal accounts, and navigate dedicated customer dashboards built to simplify policy management.

The strategic overhaul aligns with Mutual Benefits’ broader vision of leveraging modern technology to deepen insurance penetration across Nigeria, elevate consumer convenience, and provide digital-first solutions that cater to the evolving needs of retail and corporate clients.

Gideon Ayogu, Head of Marketing & Communications at Mutual Benefits Assurance Plc, stated that the launch represents a significant stride toward building a highly connected and customer-centric insurance ecosystem. Ayogu emphasized that the upgraded portal is more than a simple digital facelift, noting that it reflects a core commitment to making insurance simpler, more accessible, and highly responsive to contemporary consumer demands. He added that as market expectations increasingly shift toward speed and self-service, the company is actively investing in the digital capabilities necessary to enhance the overall customer journey.

The overhauled website features a completely upgraded user interface, streamlined navigation mechanics, full mobile responsiveness, and an updated product information architecture backed by a secure account management environment.

Mutual Benefits disclosed that the current release is merely the first phase of a broader digital roadmap, with additional product lines and automated self-service functionalities already in active development for future rollouts.
The ongoing soft launch period will serve as an opportunity for the insurer to gather direct user feedback and optimize the platform’s performance to meet the exact standards of its policyholders.

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The remittance was completed ahead of the May 31, 2026 deadline, following directives from the National Insurance Commission (NAICOM) requiring all domestic insurance companies to deposit 10% of their regulatory minimum capital with the apex bank.

The regulatory mandate aligns with the provisions of the Nigerian Insurance Industry Reform Act, 2025 (NIIRA), which seeks to strengthen the capacity, resilience, and competitiveness of insurance operators across the country.

This financial milestone comes on the heels of the underwriting firm opening a N5 billion Rights Issue on May 4, 2026, aimed at raising additional capital from existing shareholders.

The capital raise involves the sale of over 2.5 billion ordinary shares at N2.00 per share, issued on the basis of three new ordinary shares for every 17 shares held as of March 17, 2026.

The Rights Issue is expected to close on June 10, 2026, further bolstering the company’s capital restructuring efforts.

Dr. Lucas Durojaiye, Managing Director and Chief Executive Officer of Sovereign Trust Insurance Plc, stated that fulfilling the N1.5 billion deposit requirement represents a vital step in the company’s growth journey.

He noted that the achievement demonstrates an unwavering commitment to regulatory compliance and financial solvency, allowing the firm to compete favorably within the Nigerian insurance space and beyond.

According to Durojaiye, the timely remittance reinforces the confidence of shareholders, policyholders, and business partners in the company’s ability to consistently meet its long-term obligations while creating sustainable value.

Moving forward, the company remains focused on building a more resilient institution by pursuing strategic initiatives aimed at expanding market reach, enhancing operational efficiency, and driving product innovation.

Sovereign Trust Insurance Plc reiterated its commitment to meeting all applicable regulatory frameworks within stipulated timelines while maintaining its market reputation for professionalism, prompt claims settlement, and sound corporate governance.

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The newly introduced solution, powered by insurance technology provider Curacel, allows customers to complete mandatory vehicle inspections independently by simply submitting photographs of their vehicles through their smartphones.

This innovative feature applies directly to the initiation of new comprehensive motor insurance policies, policy renewals, and claims assessments, effectively eliminating the traditional need for physical assessments.

The digital inspection system operates by receiving images submitted directly by customers, which are then analyzed through an automated review process.

This system instantly generates comprehensive inspection reports that seamlessly integrate into AXA Mansard’s existing underwriting and claims workflow.

Chizuru Nwankwonta, Chief Technology Officer at AXA Mansard Insurance, emphasized that the company remains dedicated to introducing solutions that make insurance processes easier and faster. Nwankwonta noted that the digital inspection option reduces operational friction and offers customers unprecedented flexibility in how they complete critical steps in their motor insurance journey.

Developed in collaboration with Curacel, the technology platform supports image submission, automated screening, and documentation processing.

This strategic integration aligns with AXA Mansard’s broader corporate approach of partnering with external technology experts to optimize specific operational modules and enhance service delivery.

The new digital inspection process is currently available to drivers nationwide, and customers can easily access the feature through designated digital channels, including AXA Mansard’s core customer platforms and dedicated links provided during the standard motor insurance onboarding process.

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By adding Karis to their WhatsApp contacts, more than 300,000 AXA Mansard Health enrollees can now instantly obtain treatment approvals, confirm authorizations, check their plan status, and view their specific benefits. Additionally, the bot allows users to purchase health plans and request immediate assistance during medical emergencies.

Tope Adeniyi, the CEO of AXA Mansard Health Limited, stated that the launch is a direct reflection of the organisation’s customer-first philosophy, noting that they stop at nothing to ensure healthcare access is simple, affordable, and convenient.

Adeniyi acknowledged that the traditional manual authorization process prior to receiving treatment has long been a significant pain point for patients, often discouraging people from visiting the hospital.

By shifting this process to a ubiquitous and familiar platform like WhatsApp, the company aims to eliminate those administrative hurdles entirely.

Through Karis, enrollees at the point of care can now experience faster service speed and enjoy greater autonomy.

Patients can interact with the bot to instantly check what their plans cover, or search for nearby hospitals and specialist healthcare providers, making the entire healthcare experience highly personalized.

According to the organisation, the introduction of Karis is part of a broader strategy to leverage digital innovation to enhance service delivery and improve overall customer experience. By streamlining support, the chatbot empowers enrollees to focus entirely on their well-being rather than administrative paperwork.

AXA Mansard Health views this initiative as part of its ongoing commitment to leading digital healthcare solutions in Nigeria, making it easier for citizens to manage their health and access timely care with confidence.

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Now in its fourth consecutive year, the “Pages to Places” initiative has become a cornerstone of Leadway’s corporate responsibility strategy aimed at improving educational outcomes for young Nigerians. By donating carefully curated literature books and deploying mobile libraries to beneficiary schools, the programme seeks to address gaps in primary education, strengthen baseline literacy levels, and cultivate a sustainable reading culture among children.

Speaking on the launch of the 2026 edition, the MD/CEO of Leadway Pensure, Olusakin Labeodan, emphasized the company’s long-term vision for child development. He noted that to secure the future, corporate organizations must intentionally invest in the total wellbeing of children today. He added that the initiative reflects Leadway’s enduring commitment to community development, providing children with the essential tools, confidence, and opportunities required to thrive and contribute positively to society.

Leadway’s focus on youth development during this period extended beyond literacy to encompass health and physical wellbeing. In commemoration of Children’s Day, the conglomerate partnered with Holdbodi to execute a community health outreach that supported over 3,000 children across the Agege, Ebute Metta, and Abule Egba areas of Lagos State. Furthermore, the company engaged with educational ecosystem stakeholders at the Akada Children’s Book Festival and sponsored the “Get Fit with Jhay” initiative to promote healthy, active lifestyles among young people.

Through these combined educational, wellness, and recreational interventions, Leadway continues to drive a holistic approach to corporate social responsibility, positioning education and health as interconnected pillars necessary for building resilient communities and securing a brighter future for the next generation.

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The appointment was formalized during a working meeting between NAICOM and EY in Abuja, marking a key milestone in the commission’s ongoing RBC implementation project.

During the meeting, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, stated that the commission has been progressively transitioning the Nigerian insurance sector toward a risk-based supervisory regime and capital structure. He emphasized that this strategic shift aims to strengthen financial stability and enhance policyholder protection across the industry.

He noted that following the recent enactment of enabling legislation and the ongoing Minimum Capital Requirement (MCR) recapitalization exercise, NAICOM has accelerated efforts to operationalize an RBC framework tailored to the Nigerian insurance market.

The commissioner explained that the deployment of the RBC framework will align with the conclusion of the current MCR exercise. Key next steps include conducting Quantitative Impact Studies (QIS) and initiating industry-wide data collection in the coming weeks. These measures will support the recalibration of key parameters, deepen stakeholder engagement, and inform the issuance of the final framework alongside comprehensive regulatory guidelines.

Under this engagement, EY will support NAICOM in accelerating implementation, strengthening internal technical capacity, and ensuring the resulting regulatory framework is robust, transparent, and fit for purpose within the Nigerian market context.

In response, EY reaffirmed its commitment to prioritizing the assignment. The firm will work closely with NAICOM and relevant stakeholders to develop a practical, implementable RBC framework and the necessary supporting tools for effective execution.

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Speaking in Lagos, the Baywood  founder, noted that the regulator’s forward-thinking approach recognizes digital ecosystems as the primary pathway to deepening insurance penetration and expanding access across Nigeria.

The commendation follows the recent deployment of an operational web aggregator license granted by NAICOM to CBI Partnering Insurtech Limited, a subsidiary of Baywood Holdings.

According to Ibe, this regulatory approval directly aligns with the Federal Government’s newly assented insurance policy, which is aimed at driving comprehensive financial inclusion through digital transformation.

He revealed that the company invested over a year into building a robust technological infrastructure before securing final regulatory approval.

Ibe stated that while the licensing process was stringent to acquire, it served as the final piece of the puzzle for the firm.

He emphasized that long before receiving the official nod, the company had invested heavily in building the technology and preparing for scale, operating on the principle that operational readiness must always precede market recognition.

Operating strictly as a technology-driven marketplace rather than a traditional insurance underwriter, CBI Partnering Insurtech plans to leverage its web aggregator status to bridge the gap between conventional insurance providers and the uninsured public.

The highly scalable platform is web-based, app-driven, and API-ready, specifically engineered to integrate insurers, Health Maintenance Organizations (HMOs), corporate entities, SMEs, and individual retail consumers into a single, unified digital ecosystem.

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According to HR Expo Africa, a leading platform that celebrates excellence in human capital development, the award recognises her sustained impact in shaping people-focused strategies and progressive workplace transformation over the course of her distinguished career.

Over the years, Omowunmi has played a significant role in strengthening AXA Mansard’s people strategy through initiatives focused on employee engagement, leadership development, talent retention, and organisational effectiveness.

Her leadership has been central to building a workplace culture that promotes growth, high performance, inclusion, and comprehensive employee well-being.

Speaking on the recognition, Adewusi expressed deep appreciation for the honour, noting that it reflects the collective efforts of AXA Mansard, its people, and a leadership team committed to building strong, productive organisations. She emphasized that the recognition belongs to the environments they have built together where people can grow, thrive, contribute meaningfully, and perform at their absolute best.

Commenting on the award, Chief Executive Officer of AXA Mansard Insurance, Kunle Ahmed, congratulated Adewusi on the milestone, noting that it underscores her immense contribution in engineering the company’s commitment to a productive workforce and a healthy corporate culture.

Ahmed added that Omowunmi’s leadership has been instrumental in shaping a workplace that seamlessly supports both performance and wellbeing, expressing excitement that her consistency and impact in driving business success are being recognized on such a prestigious platform.

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The vibrant event brought together children and families for a memorable day of fun, learning, and celebration, specifically honoring clients who hold the SanlamAllianz Children Education Policy.
This initiative highlights the company’s ongoing commitment to supporting families, rewarding customer loyalty, and investing in the future of the next generation.

The event, which has become an annual tradition for the organization following previous editions in Lagos and Abuja, was designed to create a joyful atmosphere where children could relax, play, and celebrate their special day through a variety of games, recreational activities, entertainment, and exciting surprises.

The choice of Rivers State for this edition allowed the brand to deepen its connection with customers in the South-South region.

Speaking on the importance of the initiative, Chris Ekwonwa, Group Head, Strategy, Marketing & Corporate Communications, reaffirmed the company’s commitment to creating meaningful experiences that positively impact communities and strengthen relationships with families.

“At SanlamAllianz, we believe that every child deserves moments of joy, inspiration, and opportunity.

The Children’s Day Funfair is one of the ways we connect with our communities and celebrate the incredible potential of young people. Seeing the excitement and smiles on the faces of the children reminds us of the positive impact that meaningful engagement can have,” Ekwonwa stated.

The Rivers State event featured a variety of attractions and activities tailored to children of different age groups, encouraging participation, creativity, and social interaction. Attendees enjoyed unlimited access to the amusement park’s facilities, interactive games, live entertainment sessions, and other fun experiences throughout the day. Parents and guardians in attendance highly commended the company for creating a safe, engaging, and family-friendly environment where children could celebrate a day dedicated entirely to them.

This successful gathering reflects SanlamAllianz Nigeria’s ongoing commitment to supporting communities and fostering meaningful relationships that extend far beyond standard insurance services. Through initiatives like this, the company continues to promote inclusiveness, family wellbeing, and positive social impact across the country.

The event concluded with warm expressions of appreciation to all participating children, parents, employees, and partners whose support contributed to making the celebration an unforgettable experience.

Formed as a merger of Sanlam, Africa‘s biggest non-banking financial services firm, and Allianz, one of the world’s most recognizable insurance brands, SanlamAllianz operates a joint venture across 28 countries on the continent.

Established in Nigeria as SanlamAllianz Nigeria in June 2025, the brand immediately embarked on a dynamic rebrand campaign, positioning itself as a clear leader in the non-banking financial services industry with a strong commitment to ranking among the top two in every market where it operates

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