Business
JUST IN: MAN Appoints Segun Alabi Assistant Director, Corporate Affairs And Communications
The Manufacturers Association of Nigeria (MAN), has announced the appointment of Segun Alabi as its new Assistant Director Corporate Affairs and Communications (Corporate Services).
In a statement this morning,
Segun Ajayi-Kadir, the Director- General/Chief Executive Officer of (MAN) said: “Segun Alabi is a talented Corporate Affairs professional who has gained diverse experience in the Pay T.V, Financial, Real Estate, Business Membership Organisation and Manufacturing sectors.”
He will be an added value and a real asset to the Association, as we continue to promote the interest of manufacturers by deepening sector-based advocacy and partnership with national and international economic actors in government, organised private sector, host communities and other stakeholders, as well as contributing to the growth of the Nigerian economy.
Prior to the appointment, Segun Alabi, most recently, served as Head, Corporate Affairs and Programs at the Chartered Institute of Directors Nigeria (CIoD Nigeria), overseeing all corporate affairs, communications and programs functions of the Institute.
He has focused on Reputation Management, Government Relations, CSR Management, Stakeholder Management, Public Policy Advocacy and social media management at various levels.
He is also a consummate corporate communications professional, who possesses the qualities of a communication connoisseur, with a canny ability to manage and disseminate information to a competitive advantage.
Upon starting, Segun Alabi said, “I am excited to join MAN and indeed it is a dream come true.
The task ahead is enormous but achievable.”
Segun Alabi holds a Phd degree in English from the University of Lagos, specialising in Language Use and Communication.
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
Business
NDIC begins paying depositors of 46 closed microfinance banks
NDIC Managing Director and Chief Executive Oludare Sunday confirmed the development at a retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Lagos on Wednesday.
The Nigeria Deposit Insurance Corporation (NDIC) has started reimbursing depositors affected by the closure of 46 microfinance banks nationwide.
NDIC Managing Director and Chief Executive Oludare Sunday confirmed the development at a retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Lagos on Wednesday.
” Payments are ongoing, and over 700,000 Heritage Bank customers have already received their insured funds through BVN-linked accounts.
“We have started paying depositors of those banks, and gradually we intend to cover all the insured depositors,” he said,” he said.
Following the revocation of the 46 MFB operating licences, the CBN subsequently appointed the NDIC as provisional liquidator of the failed financial institutions.
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