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Posts in National Insurance Commission (NAICOM) related to Food & Agro Allied

Insurance Act

2016-12-20 6:15 PM | by Nigeria Compliancehub

This Act applies to all insurance business and insurers, other than insurance business carried on or by insurers of the following description- (a) a friendly society that is an association of persons established with no share for the purposes of aiding its members or their dependants where… Read more

Guidelines on Insurance Premium Collection and Remittance

2016-12-21 12:16 PM | by Nigeria Compliancehub

In order to protect of the policy holder and other stakeholder from the negative consequence of the existing practice, insurance operators are required to comply with the Guidelines on Insurance premium collection and remittance. These Guidelines state the rule and procedure which Insurance operators must comply with when… Read more

Operational Guidelines Sections

2016-12-21 12:40 PM | by Nigeria Compliancehub

The Guidelines set out the business practice that would be followed by Insurance Intermediaries, in order to strengthen the operational standards within the Insurance Industry; improve on the quality of performance of Insurance Intermediaries; and ensure the institutionalization of effective corporate governance structure for the Insurance Intermediaries.
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Regulation on Annuity

2016-12-21 4:12 PM | by Nigeria Compliancehub

This regulation is jointly issued by the National Insurance Commission and the National Pension Commission for the purpose of given effect to the provision of Pension Reform Act (PRA) 2004 as it relate to Life Annuity.

This Regulation specifies the modalities for the… Read more

Circular on Harmonized returns

2016-12-22 4:04 AM | by Nigeria Compliancehub

This Circular was issued by Commission to further its determination to enthrone regulatory clarity particularly with respect to regulatory returns requirement and to harmonise the process of obtaining various return from Insurance Institutions.
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Insurance Act (Amendment) Bill, 2016

2017-01-05 11:56 AM | by Nigeria Compliancehub

This is a Bill for an Act to amend the Insurance Act 2003, to set minimum limit of compensation in the event of death, injury or loss of property of third parties with respect to insurance of public buildings and buildings under construction and for related matters.
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315 agencies fail to submit audited accounts - OAUGF

2017-01-19 1:58 PM | by Nigeria Compliancehub


The report of the Senate Committee on Public Accounts on the status of compliance of parastatals on submission of audited accounts to the OAUGF obtained yesterday has revealed that no fewer than 315 Federal agencies including the Nigerian Ports Authority (NPA), Nigeria Deposit Insurance Corporation (NDIC) have failed… Read more

Lagos and Ogun states were the top Internally Generated Revenue earning states - National Bureau of Statistics

2017-01-20 9:36 AM | by Nigeria Compliancehub


According to the National Bureau of Statistics's Internally Generated Revenue (IGR) report released by the NBS on Wednesday, Lagos State recorded the highest Internally Generated Revenue figure of N150.59 billion in first half 2016, followed by Ogun State with N28.15 billion.

Nasarawa State, however, generated the lowest revenue… Read more

FG bars MDAs from spending Internally Generated Revenues

2017-01-23 10:30 AM | by Nigeria Compliancehub


To stop the high incidence of unremitted operating surpluses that stood at N450bn as of last year, the Federal Government has barred its Ministries, Departments and Agencies from spending Internally Generated Revenues that are not appropriated in their annual budgets.

Also, declaring deficits will no longer provide an… Read more

Pastors against FRCN are thieves – Tunde Bakare

2017-01-25 3:17 PM | by Nigeria Compliancehub


The Lawyer cum Pastor, Tunde Bakere, who is the General Overseer of the Latter Rain Ministres has opined that the pastors against the Financial Reporting Council of Nigeria's (FRCN) Code of Corporate Governance are thieves.

He said, "I can testify that the law was explained to kingpins in… Read more

NSE indices records marginal growth of 0.03%

2017-01-25 3:33 PM | by Nigeria Compliancehub


The market indices of the Nigerian Stock Exchange (NSE) on Monday appreciated by marginal growth of 0.03 per cent due to cautious trading. This is coming just as investors await the outcome of the 2017 maiden edition of the Monetary Policy Committee (MPC) meeting.

The News Agency of… Read more