Guinea Insurance Plc Completes NIIRA 2025 Statutory Deposit
Guinea Insurance Plc filed a press release on 8 June 2026 announcing full compliance with the statutory deposit requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The filing discloses that the company has remitted the required deposit to the Central Bank of Nigeria, bringing its total statutory deposit balance to ₦1.5 billion.
Guinea Insurance Plc has announced the completion of its statutory deposit payment as required under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. According to the filing dated 8 June 2026, the company has remitted the prescribed statutory deposit to the Central Bank of Nigeria (CBN).
The remittance brings Guinea Insurance's total statutory deposit balance to ₦1.5 billion, which the company states represents 10% of the minimum capital requirement applicable to non-life insurance companies under the Act.
The company described the development as part of its ongoing recapitalisation programme. No timeline or deadline for the broader recapitalisation exercise was specified in the filing, nor were details of the specific amount most recently remitted disclosed.
Guinea Insurance is authorised and regulated by the National Insurance Commission (NAICOM) under Registration Number 017, and operates from its corporate head office at Guinea Insurance House, 33 Ikorodu Road, Jibowu, Lagos. The filing was signed by Chinenye Nwankwo, Company Secretary.
