BY NKECHI NAECHE -ESEZOBOR—The National Insurance Commission (NAICOM) on Tuesday released guidelines for the collection, management, and administration of the Insurance Policyholders’ Protection Fund (IPPF), aimed at safeguarding policyholders and their investments in the event of liquidation.
This is contained in a circular released today and signed by John Falade, Deputy Director, Special Risk & Security Analysis, addressed to all insurance institutions, the Commission said the guidelines were issued in exercise of the powers conferred on it by the Nigerian Insurance Industry Reform Act 2025 and other relevant insurance laws and regulations.
The commission also set May 31 as the deadline for insurance operators to submit their IPPF Assessment Returns for the 2025 financial year.
The circular reads: “In exercise of the powers conferred on the National Insurance Commission (the Commission) by
the Nigerian Insurance Industry Reform Act 2025 and other extant insurance laws and
regulations, the Commission hereby issues the attached Guidelines for the Collection,
Management, and Administration of the Insurance Policyholders’ Protection Fund (the Fund).
It added that “the guidelines ensure regulatory clarity, guidance and ease compliance, as it provides a comprehensive regulatory framework for the collection, management, and administration of the
Fund which serves as a statutory safety net designed to protect insurance policyholders against distress and insolvency of a licensed insurer or reinsurer, including guidance for the reimbursement of loans by an insurer or reinsurer.”
“Please be informed that the IPPF Assessment Returns in respect of the year 2025 shall be submitted to the Commission not later than 31st May 2026, while subsequent submission shall be in line with Section 4.3 of the Guideline on Insurance Policyholders Protection Fund.
“All insurers, reinsurers and relevant insurance institutions are required to ensure strict compliance with this Guidelines.
“Please accept the assurances of the Commission’s best wishes.”
BY NKECHI NAECHE-ESEZOBOR—When Dr. Aminu Maida took the helm at the Nigerian Communications Commission (NCC) in October 2023, he stepped into a challenging landscape marked by soaring operational costs and stubborn infrastructure gaps.
Yet, over the past few years, the commission has successfully turned these hurdles into stepping stones, steering Nigeria’s telecommunications sector toward a new era of steady growth and digital inclusion.
At the heart of the NCC’s recent success is a massive push to bring reliable phone and internet access to everyday Nigerians, especially those in rural and underserved communities.
By 2025, these deliberate efforts pushed the country’s internet broadband penetration rate to an impressive 48.81 percent, while teledensity—the percentage of the population with telephone connections—reached 79.65 percent.
Industry experts note that this rapid expansion didn’t happen by accident; it is the direct result of the regulatory stability and clear, reliable policy direction the NCC has established.Beyond simply expanding networks, the commission has taken aggressive steps to protect them.
In a major victory for the industry, the NCC actively championed a Presidential Executive Order that officially designates telecom facilities as Critical National Infrastructure.
This critical legal shield gives the government the teeth to fight back against the theft, vandalism, and sabotage that have long plagued network operators, disrupted daily services, and driven up business expenses.
Financially, the NCC has proven to be a vital engine for the nation’s economy. In the 2024 fiscal year alone, the commission generated roughly N195.8 billion through spectrum fees, operating licenses, and other regulatory revenues.
Proving its commitment to national development, the NCC sent more than N111 billion of those earnings straight into the Federal Government’s Consolidated Revenue Fund.
Looking toward the future, the NCC is also reshaping how technology businesses operate in Nigeria. The commission has introduced discussions for a fresh General Authorisation Framework alongside updated licensing systems. This modern approach is designed to cut through red tape for tech startups, welcome innovative business models, and make it much easier to deploy next-generation digital tools.
Ultimately, the NCC has managed a delicate balancing act. Even while navigating tough economic pressures like inflation and rising business expenses, the commission has successfully maintained investor confidence through open, transparent communication with network operators.
At the same time, it has kept its focus squarely on everyday citizens by strictly monitoring service quality and creating tools that help ordinary phone subscribers check network performance, ensuring that Nigeria’s digital future remains both strong and consumer-friendly.
Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday in Brazzaville, Congo, signed a Letter of Intent (LOI) between the African Development Bank (AfDB) and the Federal Republic of Nigeria to advance the implementation of the Integrated Aviation Transformation Programme (IATP), a $7 billion initiative designed to modernise Africa’s aviation sector.
This was disclosed in a statement by the minister’s Special Adviser on Media and Communications, Tunde Moshood.
Mr Keyamo participated in a high-level dialogue session with the president and governors of the AfDB, where he presented the opportunities embedded in the programme and Nigeria’s role in driving its implementation.
According to him, the IATP offers a strategic pathway to unlock aviation investment across Africa, with Nigeria positioned as a key beneficiary through ongoing sector reforms and policy alignment.
He also unveiled President Bola Tinubu’s Renewed Hope Agenda for the aviation sector, describing it as a framework that could serve as a model for other African countries seeking to develop their aviation industries.
Mr Keyamo said Nigeria had already taken key preparatory steps to position itself for the successful take-off of the initiative.
“including domesticating the Cape Town Convention, updating its IDERA and reworking its aviation insurance policies to meet global industry standards,” he said.
He noted that these reforms were necessary to build investor confidence and align Nigeria’s aviation framework with international best practices.
The minister also highlighted the newly approved Nigeria Aircraft Leasing Company, saying it would play a critical role in improving access to aircraft financing and expanding airline operations in the country.
He added that the African Development Bank was being engaged to mobilise capital in support of the initiative, given its potential to transform aviation financing across the continent.
The statement added that the President of the AfDB, Sidi Ould Tah, expressed satisfaction with the presentation and pledged the bank’s commitment to supporting the successful implementation of the IATP across Africa, particularly in Nigeria.
Following the dialogue session, Mr Keyamo unveiled the Country Compact for Nigeria’s aviation sector and then signed the Letter of Intent between the AfDB and Nigeria, formally marking a commitment to deepen cooperation in aviation development.