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Insurance Week 2026 to Hold Nationwide as CIIN Unveils Plans

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The Chartered Insurance Institute of Nigeria has unveiled plans for the 2026 edition of Insurance Week as part of efforts to deepen public understanding of insurance and strengthen collaboration across the industry.

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, intending to build 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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NCC seek stronger cyber resilience as AI intensifies cyber threats

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The Nigerian Communications Commission (NCC) has called for stronger collaboration, improved digital security infrastructure and effective policies to address emerging cyber threats driven by Artificial Intelligence (AI).

Dr Aminu Maida, Executive Vice-Chairman of the NCC, made the call at the second edition of the International Cybersecurity Conference (ICSC), held on Tuesday in Abuja.

The theme of the conference was, “Cyber Resilience in the Age of AI: Defending Minds, Networks and Nation”.

Maida said AI had significantly increased the sophistication, speed and scale of cyberattacks, making cybersecurity a national imperative.

He said telecommunications infrastructure had become central to Nigeria’s digital economy, supporting financial transactions, communications, public services and business operations, thereby making its protection critical to national security.

He said cyber resilience went beyond preventing attacks to developing the capacity to anticipate, withstand and recover from disruptions while ensuring the continuity of essential services and economic activities.

According to him, emerging threats include AI-driven phishing, automated credential attacks, deepfakes designed to bypass authentication systems and malware capable of modifying itself to evade detection.

“The recent international cybersecurity incidents involving attacks on supermarket refrigeration systems in France and spyware targeting journalists and media personnel in the Middle East underscore the need for stronger digital defences.

“Section 4 of the Nigerian Communications Act, 2003, mandates the commission to protect consumer rights, safeguard national interests and promote the safety and efficiency of communications infrastructure.

“We have established the NCC Computer Security Incident Response Team (NCC-CSIRT) to monitor threats, facilitate intelligence sharing and coordinate responses to cybersecurity incidents across the telecommunications sector,” he said.

Maida said that the commission’s cyber resilience framework for the Nigerian communications sector provided common security standards for licensed operators and strengthened coordination with the national Computer Emergency Response Team, (ngCERT).

“There are three critical areas for strengthening cyber resilience. They include protecting human minds through cybersecurity awareness.

“There is also securing networks through robust security architecture, and defending the nation through collaboration among regulators, telecommunications operators, financial institutions and security agencies,” he said.

He urged telecommunications operators to adopt Zero Trust Architecture, which requires continuous verification of users and systems, while ensuring that AI models integrated into network operations were regularly assessed for vulnerabilities.

The National Security Adviser (NSA), Malam Nuhu Ribadu, said that digital development and national security could no longer be treated as separate priorities.

Ribadu was represented by Prof. Gerald Ilukwe from the Office of the National Security Adviser (ONSA) .

He said that AI presented opportunities for strengthening cyber defences but could also enable criminals to develop sophisticated scams, clone voices and spread false information.

He urged Nigerians to verify identities and authenticate suspicious requests before taking action.

“There is a need to secure digital supply chains, including AI models, data services and third-party technology providers.

“Vulnerabilities within one organisation can compromise other institutions and critical national infrastructure.

Ribadu said that the ONSA, through the National Cyber Security Coordination Centre, was strengthening coordination among relevant institutions and providing tools, laboratories and cyber ranges to analyse threats, investigate incidents and test response capabilities.

He said that a review of the National Cybersecurity Policy and Strategy, last updated in 2021, was underway to address emerging challenges, including AI-enabled fraud, supply-chain vulnerabilities, workforce development and international cooperation

“Recommendations from the conference will contribute to the ongoing review. The revised strategy will establish measurable priorities, promote accountability and strengthen the country’s capacity to respond to cyber incidents,” he said.

Rep. Ayodeji Stanley, Chairman, House of Representatives Committee on ICT and Cybersecurity, described cybersecurity as a moving target that required continuous innovation, adaptable legislation and international cooperation.

Stanley drew on his experience working on complex information technology systems in the United States.

He said the transition from traditional computing to cloud technologies had introduced new security challenges, requiring continuous improvements in protection mechanisms.

He urged policymakers, security experts and technology practitioners to develop forward-looking solutions that would protect critical systems across sectors, including food security.

Stanley said that cyberattacks could have consequences beyond the disruption of digital services.

He called for a collective global response to cyber threats, saying countries must work together to develop effective policies and innovative approaches capable of addressing the rapidly changing cybersecurity landscape.

(NAN)

The post NCC seek stronger cyber resilience as AI intensifies cyber threats appeared first on Business Today NG.

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Fidelity Bank Plc redeems $400m eurobond at maturity

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Fidelity Bank Plc has redeemed its 5-year $400 million Senior Unsecured Notes at maturity, reaffirming its commitment to meeting investor obligations and reinforcing its track record in the international debt capital markets.

Issued on 28 October 2021, the 5-year Eurobond matured on 28 October 2026 and carried an annual coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met all scheduled coupon payments throughout the life of the instrument and has now fulfilled its final repayment obligation in full, covering both principal and accrued interest.

The redemption was funded from internally generated liquidity as part of the bank’s forward-looking liquidity management strategy. Through a dedicated sinking fund, Fidelity Bank progressively provided for the maturing obligation, enabling the bank to meet its commitment while maintaining business-as-usual operations and compliance with applicable regulatory liquidity requirements.

Commenting on the development, Fidelity Bank Plc’s Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, said the successful redemption reflected the bank’s disciplined approach to financial management and its commitment to delivering on its obligations.

“This successful redemption demonstrates the strength of our franchise, the discipline of our balance sheet management and our commitment to honouring our obligations to investors and other stakeholders. We anticipated this maturity from the outset and planned accordingly, which reflects our commitment to responsible financial management,” Mrs Onyeali-Ikpe said.

The redemption further strengthens Fidelity Bank’s record in the international debt capital markets. The 2021 issuance marked the bank’s third Eurobond transaction, following earlier issuances in 2013 and 2017, in which the bank raised $300 million and $400 million, respectively. The 2021 offer attracted investor orders exceeding US$700 million, reflecting strong demand for the bank’s international debt offering.

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The successful Eurobond redemption follows the completion of Fidelity Bank’s recapitalisation programme ahead of the regulatory deadline. The bank’s capital-raising efforts increased its eligible regulatory capital to approximately N533 billion, exceeding the N500 billion minimum capital requirement for banks with international authorisation.

The completion of these milestones underscores Fidelity Bank’s strong capital position, prudent liquidity management and disciplined approach to financial execution. It also reinforces the Bank’s capacity to meet its financial obligations while pursuing its strategic growth objectives across domestic and international markets.


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