(NIIRA 2025). This landmark legislation repeals the Insurance Act, 2003, and consolidates related provisions, ushering in a modern regulatory framework designed to strengthen financial resilience, improve market conduct, enhance governance, and protect policyholders.

On August 6, 2025, President Bola Ahmed Tinubu in a landmark effort to transform the Nigerian Insurance Sector signed the Nigerian Insurance Industry Reform Act (NIIRA), 2025.

The apex regulator of the insurance sector, National Insurance Commission ("NAICOM") in 2019 issued directives for the increase in the minimum paid-up share capital requirement for all

Pursuant to the powers conferred on the National Insurance Commission by the National Insurance Commission Act 1997 ..

On August 5, 2025, the Nigerian Insurance Industry Reform Act (the "Act") was signed into law, reforming the regulatory framework for insurance companies and other entities providing services...

In 1972, the Federal Government of Nigeria issued the Nigerian Enterprises Promotion Decree, more commonly known as the Indigenisation Decree.

In exercise of its statutory powers and regulatory functions, the NAICOM, recently reviewed the minimum paid-up share capital requirement for all classes of insurers doing business in Nigeria.

There has been recurring clamour for recapitalisation of the Insurance sector in Nigeria owing to what has been perceived as declining public confidence in the sector's integrity, ...

Do you want to set up and Insurtech company in Nigeria? Then this article has detailed the basics that will make that possible for you. Before going deeply into them, we would take a sneak peak to discover what...

On 29 July 2025, President Bola Ahmed Tinubu signed into law the Nigeria Insurance Industry Reform Act 2025 (‘NIIRA' or ‘New Act'), a legislation aimed at transforming the Nigerian insurance sector.

The National Insurance Commission (NAICOM) issued the CGGIRC 2021 on 17th March 2021, with an effective date of 1st June 2021.

The context for the above statement by Nigeria's insurance regulator was subsequent to the litigation instituted by aggrieved shareholders of some insurance companies to stop NAICOM's...