Business
Jigawa invests N132 Million in CNG training centre
The Jigawa State Government has invested over N132 million in developing a training center for the conversion of vehicles from petrol to Compressed Natural Gas, CNG, in Dutse.
The Permanent Secretary of the Ministry of Power and Energy, Engineer Musa Al’assan Arobade, disclosed this during the opening of a “Train-the-Trainers” workshop on CNG vehicle conversion, held at the ministry’s conference hall.
He announced that the state government would soon award contracts for converting 25 vehicles from petrol to CNG.
Al’assan stated that this initiative is part of the state government’s efforts to promote cleaner energy sources.
He explained that the state government will also sponsor the training of 20 individuals in vehicle conversion techniques.
According to him, “the beneficiaries of the training will be selected from the Ministry of Power and Energy and the Jigawa State chapter of the Association of Automobile Technicians.”
He reiterated the government’s commitment to enhancing energy security, reducing dependence on fossil fuels, and driving economic growth by promoting access to renewable energy solutions.
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Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦190 Sell ₦205
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
Central African CFA Buy ₦2,150 Sell 2,250
Australian Dollar Buy ₦800 Sell ₦900
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ZAR / NGN ₦82.44 ₦87.16
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Business
NAICOM Revokes Nigeria Reinsurance’s Licence, Freezes Operations Over Capital Shortfall
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation for failing to meet the statutory Minimum Capital Requirement (MCR) and appointed Senior Advocate of Nigeria, Dr. Muiz Banire, SAN, as Receiver/Provisional Liquidator to wind up the company’s affairs.
The appointment took effect on August 3, 2026, following the cancellation of the company’s certificate of registration by the insurance regulator.
In a public notice dated August 4, 2026, Banire said NAICOM appointed him, in exercise of its statutory powers, to oversee the receivership and liquidation of Nigeria Reinsurance Corporation (RR-002).
In the notice, the company’s licence was revoked after it failed to comply with the prescribed Minimum Capital Requirement applicable to its category of licence within the stipulated compliance period, in accordance with the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and other extant laws, regulations and guidelines.
Banire said his appointment authorises him to immediately trace, recover, secure and take possession of the company’s assets, collate and settle its liabilities in line with the NIIRA 2025, liaise with NAICOM on matters relating to the liquidation, and submit periodic reports to the Commission.
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
Source: ThisDay
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