NICON License Revoked by NAICOM | Nigeria News

Nigeria’s National Insurance Corporation, NICON, has been stripped of its operating license after failing to meet new regulatory capital requirements under the 2025 Insurance Industry Reform Act. NAICOM has appointed Senior Advocate Chukwuma-Machukwu Ume as Receiver Manager to oversee asset protection, debt settlement, and orderly winding down — with immediate notice to all stakeholders that future dealings must go through him or they’ll be nullified. This move underscores regulators’ commitment to financial integrity in Nigeria’s insurance sector. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f043212848c37e0b