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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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Polaris Bank debunks death reports in Lagos branch fire incident

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Polaris Bank Limited has debunked reports claiming that over 34 persons died in a fire incident at its Broad Street branch in Lagos, describing the claims as false and misleading.

The bank issued the disclaimer in a post on X on Thursday, insisting that there were no casualties or fatalities in the fire incident.

A fire broke out on Thursday afternoon at a multi-storey building housing a Polaris Bank branch on Broad Street, Lagos Island.

The bank said the fire incident, which originated from a customer’s vehicle parked on the third-floor car park, was contained following the activation of its emergency response procedures and the prompt intervention of firefighters.

“A fire incident occurred today at the car park of our Broad Street Branch, Lagos, originating from a customer’s vehicle parked on the 3rd-floor car park.

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“The fire was swiftly contained following the activation of our emergency response procedures and the prompt intervention of firefighters,” the bank stated.

READ ALSO: CBN, Polaris Bank refute liquidation rumors

Polaris Bank said it has commenced investigations to determine the cause of the fire incident, noting that reports claiming that over 34 persons were feared dead are false and misleading.

“We confirm that there were no casualties or fatalities. Reports claiming that over 34 persons were feared dead are false and misleading.

“Investigations into the incident are ongoing. We thank emergency responders, our staff, customers, and stakeholders for their support,” the bank said.

Polaris Bank urged the public to rely only on credible news platforms and its official channels for accurate information and to disregard false reports circulating online.

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Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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