Post by Engr. Olusola Adedayo (@Moschino)

The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation over its failure to meet the statutory minimum capital requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The regulator has also frozen all bank accounts belonging to the company and appointed Dr. Muiz Banire (SAN) as Receiver and Provisional Liquidator to oversee the winding up of its affairs

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