Insurers Await Release of N300bn Recapitalisation Funds

• • 1 min read
Insurers Await Release of N300bn Recapitalisation Funds

LAGOS — Nigerian insurers are waiting for the release of about N300 billion held in escrow accounts after the completion of the sector's recapitalisation, as the Central Bank of Nigeria carries out due diligence on the funds. The National Insurance Commission has asked the central bank to release the money. Nigerian Insurers Association Chairman Ebelechukwu Nwachukwu said she expects the funds to be returned in full during October. NAICOM has engaged EY to help it move to a risk-based capital regime.

◉ 3,635 Views

Sorry, this whatsapp community is filled.