Business

NAICOM Applauds Senate Over Passage of Insurance Regulatory Commission Bill

Published

3 months ago

July 23, 2026

BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM) extends its profound appreciation to the leadership of the Senate and to *Senator Adetokunbo Mukail Abiru*, Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, for their pivotal role in the successful passage of the National Insurance Regulatory Commission Bill in the Red Chamber.

This landmark legislation is a major milestone in strengthening the regulatory framework of Nigeria’s insurance industry. With enhanced oversight, transparency, and accountability, the Bill will deepen public confidence, attract investment, and promote sustainable growth that benefits policyholders, operators, and the broader economy.

NAICOM acknowledges the vision, dedication, and collaborative spirit demonstrated by the Senate leadership and Senator Abiru in championing reforms that will modernize insurance regulation and advance financial inclusion in Nigeria. Their commitment underscores the importance of this achievement for the protection of citizens and the stability of the financial sector.

The Commission reaffirms its readiness to ensure the effective implementation of the provisions of the new law once signed, and to continue working closely with all stakeholders to position the insurance industry as a catalyst for national development.

The post NAICOM Applauds Senate Over Passage of Insurance Regulatory Commission Bill appeared first on Business Today NG.

Related Topics:Applauds bill Commission Insurance NAICOM Passage regulatory senate

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Business

Lagos Police Arrest 4 Suspected Cultists in Lekki-Ajah, Recover Locally Made Gun

Published

2 hours ago

October 14, 2026

PlateauReports

BY SUNDAY SAMUEL—As part of the Command’s sustained efforts to combat cultism and other criminal activities across Lagos State, the Command has arrested four suspected cultists allegedly terrorizing the Lekki, Ajah, Elemoro axis and its environs, following credible and actionable intelligence received by operatives of the Command between 2nd and 9th October 2026.

The suspects, identified as Arisekola Ojo, ‘m’, 32 years; Oluwatobi Oyewole, ‘m’ 29 years; Oluwaseyi Odunewu, ‘m’ 32 years; and Olumagba Ifatope, ‘m’ 29 years; were arrested over their alleged involvement in conspiracy and membership of an unlawful society. During investigation, their confession led to the recovery of one locally made cut-to-size gun during a search conducted at the residence of Oluwaseyi.
The suspects have made useful statements, while investigation is ongoing to apprehend other individuals linked to the crimes and recover additional firearms.

The Commissioner of Police, Lagos State Command, CP Tijani Fatai, psc, mnips, has reiterated the Command’s commitment to dismantling cult groups and other criminal networks across the State. He warned individuals involved in cultism and other criminal activities to desist or face the full wrath of the law. While urging residents to continue providing credible and timely information to the Police to enhance security in their communities.

The Command Emergency Lines are:
07061019374
08065154338
08063299264
08039344870
08080193432 (Marine)
09168630929

The post Lagos Police Arrest 4 Suspected Cultists in Lekki-Ajah, Recover Locally Made Gun appeared first on Business Today NG.

Business

NNPC’s profit after tax rises to N431bn in August

Published

10 hours ago

October 13, 2026

PlateauReports

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it recorded a 54.5 per cent increase in Profit After Tax (PAT), rising from N279 billion to N431 billion in August 2026.

NNPC Ltd. made this known in its monthly operations and financial report for the month of August 2026.

According to the report, revenue for the period stood at N3.74 trillion as against N3.09 trillion recorded in July.

It said the company also recorded a 19.89 per cent increase in cumulative statutory payments, from N7.91 trillion for January to July, amounting to N9.49 trillion from January to August.

The report puts the average crude oil and gas production figures for the period at 1.69 million barrels per day (bpd) and 7,680 million standard cubic feet per day, respectively.

ALSO READ: NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

On the state of infrastructure, it said there was 100 per cent availability of upstream pipelines, while the OB3 and Ajaokuta-Kaduna-Kano (AKK) Gas Pipelines stood at 100 per cent and 95 per cent completion, respectively.