Priest loses 3 brothers in Lagos Great Nigeria Insurance fire
A Catholic priest shares the heartbreaking story of losing three brothers in the Lagos Island fire. The family recovers only ashes as they prepare for burial. Read and share their story.
Category : Search result: insurance recapitalisation Nigeria
22 Banks Secure Licences as CBN Recapitalisation Nears
With weeks to the March 31, 2026 deadline, 22 of Nigeria's 34 banks have met the CBN's new capital requirements. Discover which banks are safe and how mergers are reshaping the industry for stability and growth.
Fidelity Bank Meets CBN's N500bn Capital Requirement
Fidelity Bank Plc has successfully raised its capital base to N564.5bn, crossing the CBN's N500bn threshold for international banks. Discover how the recapitalisation race is reshaping Nigeria's banking sector with the March 2026 deadline looming.
18 Insurers Ready for NAICOM Capital Verification
Only 18 out of over 50 insurers are ready for NAICOM's capital verification ahead of the July 30 deadline. The exercise aims to strengthen the sector and boost claims payment. Read more.
Insurers Oppose Tax Exemptions for Foreign Companies
Nigerian insurance operators warn that a proposal to grant foreign insurers tax exemptions on local premiums could cripple domestic firms and undermine industry reforms. Read the full analysis.
Banks Face Pressure as CBN Closes Easy-Money Window
Nigeria's banking sector braces for tough days as the CBN's termination of pandemic-era loan relief exposes hidden losses, pushing NPLs above the regulatory limit. Discover the sectors most at risk.
Apostle Chikere's Ex-Husband Alleges UK Insurance Fraud
Pastor Martin Ugbulu accuses Apostle Chikere Nwafor of shipping a Lexus to Nigeria, falsely reporting it stolen, and collecting a £17,000 payout. Get the full story and public reaction.
12 Nigerian banks yet to meet CBN recapitalisation deadline
With the March 31 deadline looming, at least 12 Nigerian banks are struggling to meet the CBN's new capital requirements. Discover the full list and potential outcomes for the banking sector.
Late Lagos Businessman's Wife Releases Burial Arrangements
The wife of businessman Obumneke Chukwudolue, who died in the Lagos Great Nigeria Building collapse, has shared his obituary and burial plans. Details inside.
UBA Exceeds CBN Capital Requirement with N157.84bn Rights Issue
United Bank for Africa (UBA) has successfully raised N157.84 billion through a rights issue, exceeding the Central Bank of Nigeria's N500 billion minimum capital requirement. The offer was oversubscribed by 113%, demonstrating strong investor confidence.
UBA Beats CBN's N500bn Capital Target Early
United Bank for Africa (UBA) has officially exceeded the Central Bank's N500bn capital requirement for international banks. The feat, achieved via a N178.3bn rights issue, positions UBA for expansion ahead of the March 2026 deadline. Read the full details
FirstBank Meets CBN Capital Requirement Ahead of 2026 Deadline
First Bank of Nigeria has successfully raised its capital base to meet the Central Bank's N500 billion requirement. The funds will drive support for the real sector and enhance digital innovation. Read more.
Burial Details for Brothers Lost in Lagos Fire Released
The Omatu brothers who died in the Great Nigeria Insurance House fire will be buried in Anambra on January 14. Get details on the ceremony and the tragic Lagos Island blaze.
Burial Set for 3 Brothers Killed in Lagos GNI Building Fire
The Omatu family has announced burial arrangements for three brothers who died in the Great Nigeria Insurance House fire. The service of songs is on January 7, with burial in Anambra on January 14.
19 Banks Meet CBN Recapitalisation Target Ahead of Deadline
Nineteen Nigerian banks have met the CBN's new capital requirements, with Fidelity Bank raising N250bn. Analysts expect more compliance before the March 31, 2026 deadline. Read the full list and analysis.
Three Brothers Among 8 Killed in Lagos Island Fire
Family and community mourn Stephen, Casmir, and Collins Omatu, killed in the Great Nigeria Insurance building fire. The tragedy raises urgent fire safety concerns in Lagos. Read more.
RMB Nigeria Meets CBN Capital Requirement Ahead of Deadline
Rand Merchant Bank Nigeria has successfully met the CBN's new N50 billion minimum capital requirement for merchant banks, achieving the milestone in December 2025. This move strengthens regulatory compliance and market confidence.
3 Brothers Die in Lagos Fire, Service of Songs Announced
A family announces a service of songs for three orphaned brothers who tragically died in the Great Nigeria Insurance House fire in Lagos. Read their heartbreaking story.
FirstBank Meets CBN's N500bn Capital Requirement Ahead of Deadline
FirstBank has successfully met the CBN's N500 billion capital requirement ahead of schedule. The move strengthens its financial base for sector support and expansion. Read more.
Fidelity Bank Crosses N500bn Capital Threshold
Fidelity Bank Plc has successfully raised over N250bn in a single day, meeting the CBN's N500bn capital requirement. The move cements its position among Nigeria's top-tier lenders ahead of the March 2026 deadline.
CBN Lists 28 Banks Not Allowed to Operate Abroad
The Central Bank of Nigeria has published a list of 28 banks restricted to domestic operations. Discover which institutions lack international licenses and the impact of the ongoing recapitalisation drive.
GTBank, Zenith Lead N16.14 Trillion Bank Recapitalisation Drive
Nigerian banks accelerate recapitalisation ahead of March 2026 CBN deadline. GTCO, Zenith, UBA lead as sector's market cap hits N16.14 trillion. Read the full analysis.
Investors Flock to Insurance as Recapitalisation Deadline Nears
Nigeria's insurance sector sees a surge in investor interest driven by NAICOM's reforms and the 2026 recapitalisation deadline. Commissioner Segun Omosehin outlines the push for stronger, credible insurers. Read the full analysis.
GNI clarifies Lagos Island fire incident stance
Great Nigeria Insurance Plc clarifies its position on the Martins Street fire, revealing a legal dispute with the Shitta-Bey family. The insurer confirms its operations are unaffected. Read the full details.
Otedola on Tinubu Reforms, First Bank Meets N500bn Target
Billionaire Femi Otedola commends President Tinubu's economic reforms and CBN's Cardoso, disclosing First Bank has met the N500bn capital requirement. He urges raising the bar to N1 trillion.
FirstBank Completes N500bn Capital Raise, Otedola Praises Reforms
FirstBank meets CBN's N500bn capital requirement. Billionaire investor Femi Otedola commends Tinubu and Cardoso's economic leadership, calls for raising bank capital to N1 trillion for a $1 trillion economy.
Lagos GNI Fire: Death Toll Now 6, 13 Injured
The Lagos State Government confirms six fatalities and 13 injuries from the Greater Nigeria Insurance House fire. Three victims were burnt beyond recognition. Get the full update.
Insurer pays N35.3bn claims by Q3 2025
Mutual Benefits Assurance Plc paid N35.3 billion in claims by September 2025, a record high. The payout shows strong commitment to policyholders amid economic challenges. Read the full breakdown.
Lagos Fire Victim's Last Calls for Help Break Hearts
The heartbreaking final calls of businessman Nze Obum, trapped in the Lagos Great Nigeria building fire, reveal a desperate struggle for survival. Read the full story and public outrage.
Final Calls from Trader in Lagos Market Fire Tragedy
Heartbreaking details emerge as China-based trader Nze Obum made desperate calls from under rubble after the Great Nigeria House fire at Balogun Market. Read the full story.
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