Review of Requirement for Approval In Principle, Letter of Attestation and Certificate for Offshore Reinsurance Requests.
The National Insurance Commission, in the exercise of its statutory powers conferred on it by the enabling laws, hereby issues this Circular to provide guidance on Rebates, Commissions, Return and Refund premiums in order to effectively monitor same. Read more
Circular on Reinsurance Retrocession Arrangements in respect of Domesticated and Special Risks' Insurance
The National Insurance Commission, in its bid to continue to protect the policy holder/member of the public, issues a supplementary standard for Aviation insurance business in Nigeria. Read more
By this Circular, Dealing Members are advised to refer to Article 93 of the Rules and Regulations Governing Dealing Member Firms which states that “a Dealing Member shall obtain confirmed orders from its clients before placement of an order on the system and shall keep records of same upon completion or… Read more
By this Circular, Dealing Members are reminded that further to Article 104A of the Rules and Regulations Governing Dealing Members (Amendments and Additions part1), they are forbidden from engaging in transactions the primary purpose of which is to unduly or improperly influence the market price of securities. Read more
As part of The Exchange’s efforts to facilitate the growth of the capital market in an atmosphere of compliance with all applicable rules and regulations as well as in accordance with the best practices, Dealing Members Firms are reminded of the record retention requirements of The Exchange as provided in… Read more
The purpose of this Circular is to provide market participants with a short brief guide on acceptable conduct in relation to Short Selling, Market Making and Securities Lending. Read more
Pursuant to the circular on Operational Guide for Market Making, Securities Lending and Short Selling, this is to remind all Dealing Member Firms that naked short selling is strictly prohibited. Read more
Following the introduction of Securities Lending, please be informed that Dealing Member firms may only participate in the programme via approved Securities Lending Agents (SLAs) registered by the Securities and Exchange Commission (SEC). During the roll out period, only securities owned by Qualified Institutional Investors (QIIs) may… Read more
The Commission has observed that some operators change their clients dates of birth and dates of first appointment on their databases without recourse to the Commission. Consequently, all licensed Operators are henceforth required to seek for Commission's approval and await such before effecting changes on their databases. Read more
Circular on the Requirements for Pension Fund Administrators with Funds Under Management of 100 Billion.
By this Circular, all licensed Operators are henceforth required to inform the Commission when changing their operating software. Any Operator infringing this requirement will from now on be penalised appropriately.Read more