NAICOM has confirmed that the recapitalization deadline for the insurance industry remains July 31, 2026. This decision is part of a broader reform under the new Insurance Act aimed at strengthening the sector's financial base and enhancing consumer protection.
NAICOM has reiterated the mandatory recapitalization deadline for insurance companies, set for July 31, 2026. Mr. Olusegun Ayo Omosehin emphasized the need for financial strength and compliance, highlighting the ongoing transformation of the insurance industry.
NAICOM has urged insurance operators to prioritize the recapitalization deadline of July 31. Olusegun Ayo Omosehin emphasized the need for urgency in compliance, while Akinjid Orimolad noted the importance of ethical standards and professional development in the industry.
