Tag: Liquidation

  • NAICOM Revokes NICON Insurance Licence, Appoints Receiver to Oversee Liquidation

    NAICOM Revokes NICON Insurance Licence, Appoints Receiver to Oversee Liquidation

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    by

    Starnews NG
    in

    Nigeria’s biggest insurance firm, the National Insurance Corporation of Nigeria (NICON), has lost its operational licence following its failure to meet the new capital requirements mandated by the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The National Insurance Commission (NAICOM), Nigeria’s regulatory body, revoked the licence of the government-owned company, which was established in 1969…