Directive
NAICOM releases guidelines of minimum paid-up share capital for insurance companies
File Photo The National Insurance Commission (NAICOM) on Tuesday released guidelines for the payment of Minimum Paid-up Share Capital by insurance and re-insurance companies in compliance with the first phase recapitalistion directive deadline of Dec. 31. Mr Pius Agboola, Director, Policy and Regulations, NAICOM, for the Commissioner of Insurance, said that the guidelines were in furtherance to the commission’s earlier circulars referenced /25/2019, dated May 20, 2019, July 23, 2019 and December 30,2019 respectively on the subject matter. Agboola said that the minimum paid-up share capital shall be through any or a combination of either and existing paid-up share capital, cash payment for new shares, retained earnings – capitalisation of undistributed profits. He listed also payment in kin...
Nigerian government raises hate speech fine to N5 million
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Abdulaziz Yari: I never assaulted airport official
The immediate past Governor of Zamfara State, Abdulaziz Yari, has denied reports that he assaulted an airport official last Saturday at the Mallam Aminu Kano International Airport (MAKIA), Kano. This was even as Yari demanded that the Federal Airports Authority of Nigeria (FAAN), retract its offensive tweets regarding the incidence and tender an apology for the falsehood peddled against him. Yari in a statement by his media consultant, Mayowa Oluwabiyi, said although he did use the airport on the said date, but such incidence never occurred. Recall that FAAN had on Wednesday in a series of tweets, condemned Yari’s action for violating COVID-19 directive at the airport. FAAN further alleged that Yari refused to adhere to the protocols and procedures put in place by the Federal Government th...
NMA laments security maltreatment of members
The Nigeria Medical Association (NMA), on Wednesday, lamented the maltreatment of its members on essential duties by security personnel and has directed doctors to leave all official duty and close when it is exactly 4 pm daily. The directive, according to the President of NMA, Dr Francis Faduyile, is to stop the doctors from working late and reduce the embarrassment they face in the process of carrying out their lawful duties. “That with effect from today, Wednesday, May 20th 2020, all medical and dental practitioners should henceforth work between the hours of 8.00 am and 4.00 pm, to give enough time for them to return back home,” the NMA president said. In a statement issued on Wednesday, Dr Faduyile said: “The NMA observed with dismay the pains and anguish foisted on our members return...
Kaduna governor accuses security agents of sabotage
Governor Nasiru Ahmad El-Rufai of Kaduna State has accused security agents of sabotaging efforts put in place to stop the influx of travelers in Kaduna state. He said the level of traffic in and out of Kaduna state despite a Presidential directive that bans interstate travels, was disappointing. He spoke in a live chat radio program on Tuesday, adding that almost all those who tested positive to coronavirus in Kaduna had travel history. According to him, the influx of people into the state was because of corrupt security agents on the highway. “They are sabotaging the state government’s efforts for monetary gain,” he alleged. “We have tried everything but the security agents have not been cooperating. We have heard of instances where commercial drivers and others pay them to come into Kadu...
