logo

Closing Bell West Africa

NAICOM approves recapitalisation work plan of 26 companies

PUBLISHED: Fri, 27 Sep 2019 15:54:45 GMT

Nigeria’s National Insurance Commission (NAICOM), has approved the recapitalisation work plans of 26 insurance companies attempting to raise funds to meet the mandatory June 2020 recapitalisation deadline issued by the regulator. NAICOM stated that four companies do not have the required 2018 financial statements and have been advised to review their plans of using IPO. For a focus on Nigeria’s Insurance sector, Research Analyst at Meristem, Akinyele Ahmed joins CNBC Africa for more.


Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.