News

Mutfwang engages Minister of Mines on favourable terms for mining exploration in Plateau

Published

3 years ago

April 7, 2023

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Plateau State Governor-Elect, Caleb Mutfwang has engaged Minister of Mines and Steel Development, Olamilekan Adegbite on fashioning out favourable terms for mineral exploration and mining of abundant natural resources in Plateau as he prepares to hit the ground running on May 29, 2023.

Mutfwang met with the Minister on Thursday in Abuja, following the high expectations of the joyous Plateau citizens, who are anxiously looking forward to a smooth transition from the Lalong’s administration to the refreshing incoming government with renewed hope of revamping the turbulent economic fortunes of the state for the prosperity of the people.

He noted with joy that the strategic engagement with critical stakeholders in the economic sector was aimed at putting in place the necessary springboard for the smooth takeoff of his administration.

The Governor-Elect, in a statement, appreciated the Minister for his hospitality and warm reception accorded his team and said the courtesy visit is aimed at fostering a mutual and healthy working relationship with the ministry in securing safe and favourable terms for mineral exploration and harnessing of abundant resources the state is endowed with.

Mutfwang, who expressed a strong determination of running an integrated people-centered administration said he is poised toward ensuring that Plateau people benefit from the natural resources God deposited in the land.

He added that the incoming government would be looking up to the Ministry for collaboration in diverse areas of comparative advantage to provide a better and safer environment for indigenous miners to thrive, using modern techniques for mining and providing competitive markets.

The Minister, Olamilekan Adegbite in his response, expressed a strong desire to partner with the state on mineral exploration and recognized the immense contributions of Plateau State in shaping Nigeria’s solid mineral sector.

He said the ministry would be willing to assist in promoting Plateau mining potentials when the incoming administration takes charge fully on May 29th, 2023.

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Osun poll: ‘IGP ordered our party member’s detention’ — Accord Party alleges

Published

2 hours ago

August 4, 2026

Preport

The spokesperson for the Accord Party Governorship Campaign Council in Osun State, Pelumi Olajengbesi, has alleged that the Inspector-General of Police, IGP, Mr Olatunji Disu ordered the continued detention of a party member, Popoola Alaba, despite investigators allegedly finding no evidence linking him to any offence.

Olajengbesi made the allegation during an interview on ARISE News while reacting to Alaba’s arrest amid political tensions ahead of the Osun governorship election.

According to him, the allegations levelled against Alaba, particularly claims that he was arrested with firearms, were not supported by investigators handling the case.

“Those allegations are embarrassing to the knowledge of the Nigerian Police. The man that was arrested was arrested with nothing. He was arrested at the point where he was sensitising his supporters,” Olajengbesi said.

He argued that if the police genuinely recovered firearms or any incriminating items from the suspect, such evidence should have been made public.

“The Nigerian Police should have ordinarily come out and shown to the public the evidence or whatever material they had relating to possession of firearms,” he added.

Olajengbesi further claimed that members of the campaign council met with officers handling the investigation, who allegedly informed them that there was no petition against Alaba and that nothing incriminating was recovered from him.

“We’ve met with the officers in charge of the investigation and they have said to us that there’s no petition against the man and nothing was found on him, but it is just very unfortunate that they have instructions from the Inspector-General of Police to detain him until further notice,” he alleged.

Describing the development as troubling, the Accord Party spokesman called on the Nigeria Police Force and the media to publicly disclose any evidence supporting the allegations against Alaba.

“That’s a sad experience we have today in Osun State and I challenge the Nigerian Police, and I challenge the press, to investigate or come out and show to the public the firearms or the unlawful possession they claimed they found with him,” he said.

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Business

Rex Insurance Meets NAICOM Minimum Capital Requirement Under NIIRA 2025

Published

2 hours ago

August 4, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—Rex Insurance Limited has successfully met the new Minimum Capital Requirement (MCR) prescribed by the National Insurance Commission (NAICOM) under the Nigerian Insurance Industry Reform Act, (NIIRA) 2025, reinforcing its financial strength, enhancing its underwriting capacity and reaffirming its unwavering commitment to policyholders and stakeholders.

The announcement follows NAICOM’s publication of insurance companies confirmed to have complied with the new capital requirement.

A statement released today by the company, said the achievement reflects the disciplined financial management, strong corporate governance, and strategic vision that have positioned Rex Insurance Limited as a resilient organization committed to delivering greater value to customers while supporting national economic growth.

“It also marks the beginning of a new phase in the Company’s journey, one focused on sustaining capital strength, accelerating profitable growth, enhancing operational excellence, and delivering superior customer value.

Commenting on the milestone, the Managing Director/Chief Executive Officer of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu, said: “Meeting the new Minimum Capital Requirement is a significant milestone in our journey and demonstrates the resilience of our business as well as the confidence of our shareholders in our long-term vision. It also reinforces our ability to honour our commitments to policyholders while positioning us for sustainable growth in an evolving insurance landscape.”

She further emphasized “Our recapitalization marks the beginning of an exciting new chapter for Rex Insurance. It is not an end, but a strategic foundation for sustainable growth and long-term value creation. With a stronger capitalbase, we are well equipped to increase our underwriting capacity, elevate customer experience, and deepen our investment in technology, innovation, and operational excellence.

“This enhanced financial strength enables us to provide smarter insurance solutions that respond to the evolving needs of our customers, deliver greater value to our stakeholders, support the advancement of Nigeria’s insurance industry, and maintain our unwavering commitment to prompt claims settlement to our policyholders”

Rex Insurance commended NAICOM for its leadership in strengthening the insurance sector through the recapitalization exercise and remains committed to supporting initiatives that promote a more resilient, competitive, and inclusive insurance market.

The insurer expressed its appreciation to its shareholders, Board of Directors, employees, customers, brokers, and business partners for their unwavering support and confidence, which have contributed to this important achievement .

“As the industry enters a new phase of growth, Rex Insurance’s focus now shifts from achieving capital adequacy to sustaining capital strength through disciplined execution, profitable growth, continuous innovation, and exceptional customer experience.”

The Company remains committed to delivering reliable insurance solutions, honouring its promises to policyholders, and creating sustainable value for all stakeholders while strengthening its position as a trusted insurance partner

About Rex Insurance Limited
Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public. With decades of experience in the Nigerian market, Rex Insurance has an enviable reputation for technical competence and financial strength.
With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction within the next 5 years is to focus on growth and profitability with the aim of growing the company’s gross premium written and be amongst the Top-Top-Tier general insurance companies in the market.

Operating from twelve (12) business locations nationwide to ensure maximum outreach and
accessibility, we have an unwavering dedication to our core values of Resilience, Efficiency,
eXellence, Integrity & Teamwork (REXIT).

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