News
Regulation
FINANCIAL SERVICES
NAICOM revokes Nigeria Reinsurance’s licence, appoints Muiz Banire as receiver/liquidator
Vanguard
Aug 5, 2026 · 21:45 WAT
NAICOM revoked Nigeria Reinsurance Corporation’s operating licence after the company failed to meet the statutory Minimum Capital Requirement. The regulator appointed Muiz Banire as receiver and provisional liquidator to oversee the winding up of the company’s affairs, effective August 3, 2026.