Daily Economy

14/08/2026

Veritas Kapital Assurance confirmed as compliant with NAICOM’s new minimum capital requirements

Nike Popoola

Veritas Kapital Assurance Plc has been confirmed by the National Insurance Commission (NAICOM) as having successfully met the prescribed minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The confirmation follows the successful completion of the insurance industry’s recapitalisation exercise and represents a significant milestone in Veritas Kapital’s capital-strengthening and long-term growth journey.

The achievement reflects the confidence and continued support of the Company’s shareholders and investors, as well as the strategic direction provided by the Board and the commitment of Management and employees towards building a stronger, more resilient and future-ready insurance institution.

Commenting on the milestone, the Managing Director/Chief Executive Officer of Veritas Kapital Assurance Plc, Dr. Adaobi Nwakuche,

14/08/2026

Today’s headlines
Friday, August 14, 2026
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Here are some news that you shouldn’t miss today

1. Recapitalisation: NAICOM clears 48 insurers, two reinsurers as Goldlink, Staco, five others fail requirements
https://dailyeconomy.ng/recapitalisation-naicom-clears-48-insurers-2-reinsurers-as-goldlink-staco-five-others-fail-requirements/

2. Lagos advances circular economy with MRF projects in Badagry, Agbowa
https://dailyeconomy.ng/lagos-advances-circular-economy-with-mrf-projects-in-badagry-agbowa/

3. Regency Alliance Insurance completes recapitalisation, strengthens capital base for growth
https://dailyeconomy.ng/regency-alliance-insurance-completes-recapitalisation-strengthens-capital-base-for-growth/

4. NCAA launches aviation radio, first Internet station for civil aviation
https://dailyeconomy.ng/ncaa-launches-aviation-radio-first-internet-station-for-civil-aviation/

5. Guinea Insurance completes recapitalisation, positions for market leadership
https://dailyeconomy.ng/guinea-insurance-completes-recapitalisation-positions-for-market-leadership/

6. Video: Iran can sustain missile fire for years — IRGC
https://dailyeconomy.ng/video-iran-can-sustain-missile-fire-for-years-irgc/

7. Photo News: Funeral ceremony of Prince Emmanuel Adenrele Alangbo, father of Cornerstone Insurance MD
https://dailyeconomy.ng/photo-news-funeral-ceremony-of-prince-emmanuel-adenrele-alangbo-father-of-cornerstone-insurance-md/

8. Mainoo, Rashford, Martínez to start against AC Milan, Carrick confirms
https://dailyeconomy.ng/mainoo-rashford-martinez-to-start-against-ac-milan-carrick-confirms/

9. Video: Zelenskyy honours fallen defenders in Ivano-Frankivsk, calls for more memorial spaces
https://dailyeconomy.ng/video-zelenskyy-honours-fallen-defenders-in-ivano-frankivsk-calls-for-more-memorial-spaces/

10. Iran rejects Western condemnation of protester executions, accuses France of hypocrisy
https://dailyeconomy.ng/iran-rejects-western-condemnation-of-protester-executions-accuses-france-of-hypocrisy/

14/08/2026

Recapitalisation: NAICOM clears 48 insurers, 2 reinsurers as Goldlink, Staco, five others fail requirements Nike Popoola

The National Insurance Commission (NAICOM) has confirmed seven additional insurance companies as compliant with the new minimum capital requirements under the Nigeria Insurance Industry Reform Act (NIIRA) 2025, bringing the total number of verified compliant insurers to 48.

The commission also confirmed that seven insurance companies did not meet the recapitalisation requirements under NIIRA 2025 and were therefore not included among the companies verified as compliant.

The latest companies cleared by the regulator are EmPLE General Insurance Limited, EmPLE Life Assurance Limited, Sovereign Trust Insurance Plc, Tangerine Life Insurance Limited, Alliance & General Insurance Plc, Guinea Insurance Plc and Regency Alliance Insurance Plc.

NAICOM disclosed this in a notice to the general public signed by its management and dated August 13, 2026.

The

14/08/2026

Recapitalisation: NAICOM clears 48 insurers, Goldlink, Staco, five others fail requirements Nike Popoola

The National Insurance Commission (NAICOM) has confirmed seven additional insurance companies as compliant with the new minimum capital requirements under the Nigeria Insurance Industry Reform Act (NIIRA) 2025, bringing the total number of verified compliant insurers to 48.

The commission also confirmed that seven insurance companies did not meet the recapitalisation requirements under NIIRA 2025 and were therefore not included among the companies verified as compliant.

The latest companies cleared by the regulator are EmPLE General Insurance Limited, EmPLE Life Assurance Limited, Sovereign Trust Insurance Plc, Tangerine Life Insurance Limited, Alliance & General Insurance Plc, Guinea Insurance Plc and Regency Alliance Insurance Plc.

NAICOM disclosed this in a notice to the general public signed by its management and dated August 13, 2026.

The development confirms an

14/08/2026

Photo News: Funeral ceremony of Prince Emmanuel Adenrele Alangbo, father of Cornerstone Insurance MD Funeral ceremony of Prince Emmanuel Adenrele Alangbo, father of Cornerstone Insurance Plc MD took place at DeeperLife Church in Lagos on Thursday

Funeral ceremony of Prince Emmanuel Adenrele Alangbo, father of Cornerstone Insurance MD Stephen Alangbo, held at Deeper Life Church in Lagos.

14/08/2026

NAICOM clears seven more insurers, confirms recapitalisation exercise complete

Nike Popoola

The National Insurance Commission (NAICOM) has confirmed seven additional insurance companies as compliant with the new minimum capital requirements under the Nigeria Insurance Industry Reform Act (NIIRA) 2025, bringing the total number of verified compliant insurers to 48.

The latest companies cleared by the regulator are EmPLE General Insurance Limited, EmPLE Life Assurance Limited, Sovereign Trust Insurance Plc, Tangerine Life Insurance Limited, Alliance & General Insurance Plc, Guinea Insurance Plc and Regency Alliance Insurance Plc.

NAICOM disclosed this in a notice to the general public signed by its management and dated August 13, 2026.

The development confirms an exclusive report earlier in the week by Daily Economy that five companies had successfully scaled the verification process and two undergoing verification, consisting of companies listed above, after submitting

14/08/2026

Lagos advances circular economy with MRF projects in Badagry, Agbowa Nike Popoola

The Lagos State Government has taken a further step towards advancing its circular economy agenda with a stakeholders’ engagement on the proposed development of Material Recovery Facilities (MRFs) in Erekiti, Badagry and Agbowa, Ikosi-Ejirin.

The Permanent Secretary, Office of Environmental Services, Dr. Gaji Omobolaji Tajudeen, who spoke at the meeting, held on Thursday at the Adeyemi Bero Auditorium, Secretariat, Alausa, Ikeja
said that the development of MRFs was critical to transforming Lagos’ waste management system from a conventional collect-and-dispose model to one that treats waste as a resource and an avenue for wealth creation.

A statement from the Director Public Affairs, Lagos Waste Management Authority
LAWMA, Mukaila Sanusi, today said he explained that the proposed MRFs were being developed by the Lagos State Government in partnership with Zoomlion as part of efforts to

13/08/2026

NCAA launches aviation radio, first Internet station for civil aviation
Abdullateef Fowewe

Nigeria’s National Civil Aviation Authority (NCAA) has begun test broadcasting for Aviation Radio, the country’s first internet radio service dedicated to civil aviation, with official commissioning planned by Aviation Minister Festus Keyamo once permits and staff training are concluded.

Michael Achimugu, NCAA Director of Public Affairs, announced the milestone in a statement on Thursday, confirming that test transmissions started this week.

Visuals from the test phase show the illuminated Aviation Radio logo in the studio, with male and female hosts wearing headphones and speaking into microphones as part of the trial run.

Achimugu outlined the station’s core offerings, which will focus on real-time, practical information for travellers and industry stakeholders.

He said, “AVIATION RADIO will bring you unique programmes, including real time announcements from the airport

13/08/2026

Ronaldo leads all-time Ballon d’Or nominations, as Messi second

Abdullateef Fowewe

Cristiano Ronaldo tops the Ballon d’Or all-time nominations list with 18, ahead of Lionel Messi (16) and AC Milan legend Paolo Maldini (13), according to a ranking published by the award’s official account and reflected on ballondor.com.

Cristiano Ronaldo – 18 nominations: The Portuguese forward holds the record for most shortlist appearances in Ballon d’Or history, underlining his longevity at the elite level from his early Manchester United days through his Real Madrid peak and beyond.

Lionel Messi – 16 nominations: The eight-time winner is second on the all-time list, with his nominations spanning his Barcelona dominance, PSG stint, and historic 2023 triumph after leading Argentina to World Cup glory.

Paolo Maldini – 13 nominations: The AC Milan and Italy defensive icon is the most-nominated defender in the award’s history, bridging eras from the late 1980s into the 2000s without ever