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Prudential Zenith Life Surpasses Capital Threshold by N19.3 Billion

Published

1 year ago

September 29, 2025

Prudential Zenith Life Insurance has surpassed Nigeria’s new capital requirement for life insurers by N19.3 billion, strengthening its position as one of the country’s most financially secure insurance companies.....KINDLY READ THE FULL STORY HERE▶

The company announced Thursday that its paid-up capital now stands at N29.3 billion, well above the N10 billion minimum set by the National Insurance Commission (NAICOM). The achievement makes Prudential Zenith one of the few insurers already compliant with the regulator’s recapitalization directive.

Strong financial backing

Prudential Zenith Life, a joint venture between Prudential Plc, one of the world’s largest insurers, and Zenith Bank Plc, a leading Nigerian financial institution, said the milestone reflects its commitment to financial strength, stability, and customer trust.

By exceeding the capital threshold, the company has given assurance to policyholders and stakeholders that it has the resources to meet obligations and expand operations.

“We are delighted to have met and surpassed the new capital requirements ahead of schedule,” said Chuks Igumbor, managing director and chief executive officer of Prudential Zenith Life. “This achievement underscores our financial resilience and commitment to providing long-term value for our customers.”

Regulatory reform

NAICOM introduced the new capital rules in 2020 to strengthen the insurance sector, which has long faced challenges of low penetration, weak capacity, and poor public confidence. Under the new guidelines, life insurance firms must raise their capital base from N2 billion to N10 billion. General insurers are required to hold at least N10 billion, while composite insurers must raise N18 billion.

The deadline for compliance has been extended several times as companies struggle to meet the new standard. Many insurers are still pursuing mergers, acquisitions, or capital injections to bridge the gap.

Prudential Zenith Life’s early compliance signals stability at a time when some insurers face uncertainty. Industry experts say the company’s position may give it an advantage in winning market share.

Market growth potential

Nigeria’s insurance penetration remains below 1 percent, one of the lowest in Africa. Analysts say the recapitalization drive is designed to create stronger insurers capable of underwriting bigger risks, attracting foreign investment, and deepening public trust.

“Prudential Zenith’s success shows that with strong shareholders and strategic planning, recapitalization is achievable,” said Abiola Williams, a Lagos-based insurance analyst. “It sets the tone for other companies to follow.”

The company said the additional capital will be used to expand digital services, introduce new products, and strengthen its distribution channels nationwide.

Industry impact

Prudential Zenith Life entered the Nigerian market in 2017 through the acquisition of Zenith Life Insurance. Since then, it has grown rapidly, combining global expertise with local knowledge. The backing of Prudential Plc, which operates in more than 20 countries, and Zenith Bank, one of Africa’s largest banks, gives it access to deep financial resources and wide distribution networks.

With the new capital strength, the company says it will focus on providing affordable life insurance products to Nigeria’s growing middle class. It also plans to support financial inclusion by offering micro-insurance policies to underserved communities.

Customer assurance

For policyholders, Prudential Zenith Life’s announcement offers reassurance that their claims and benefits are secure.

“Insurance is about trust,” said Igumbor. “By exceeding the regulatory requirement, we are showing our customers that we are here for the long term and ready to protect their future.”

As the recapitalization deadline approaches, industry observers expect more consolidation in the Nigerian insurance sector. Smaller firms may seek mergers to survive, while stronger players like Prudential Zenith Life will likely expand their influence.

NAICOM has emphasized that recapitalization is essential to building a robust and competitive insurance market in Africa’s most populous nation.

For Prudential Zenith Life, surpassing the threshold by N19.3 billion is not only a regulatory victory but also a statement of intent. The company says it will continue to invest in innovation, customer service, and market expansion as it aims to be a leader in Nigeria’s insurance industry.

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Lyon Win Five-Goal Thriller Against Crystal Palace As Sunderland Strike Late [Europa League Full Results].

Published

50 minutes ago

October 16, 2026

NivoNews

Lyon took the lead in the 10th minute when Corentin Tolisso reacted quickly to a loose ball following a corner kick.....KINDLY READ THE FULL STORY HERE▶

The French side extended their advantage in first-half stoppage time, with Ernest Nuamah finishing off Keito Nakamura’s cross after an impressive attacking move.

Crystal Palace reduced the deficit shortly after the restart through Yeremy Pino, who converted a well-executed set-piece routine.

However, Lyon restored their two-goal advantage when Pavel Sulc scored with a close-range flick.

Daichi Kamada brought Palace back into contention with nine minutes remaining, but Lyon defended their lead to secure their second consecutive victory in the league phase.

Sunderland Snatch Dramatic Late Victory

Sunderland produced a late comeback to defeat Torreense 2-1 in Portugal, with Noah Sadiki scoring the decisive goal in the 93rd minute.

The hosts took the lead in the 37th minute after Volnei Feltes beat his marker before unleashing a long-range effort beyond Sunderland goalkeeper Robin Roefs.

Sunderland manager Regis Le Bris responded by introducing Granit Xhaka and Enzo Le Fee shortly before the hour mark, helping his side regain control of the contest.

Jules Ahoka subsequently equalised for the visitors before Sadiki struck deep into stoppage time to complete the comeback.

The closing stages were marked by a lengthy VAR review that ultimately denied Sunderland a late penalty, but the visitors still left Portugal with all three points.

Leverkusen, AC Milan Record Convincing Wins

Bayer Leverkusen moved to the top of the standings after defeating Lech Poznan 4-0.

Patrik Schick scored twice from the penalty spot in the first half, while Malik Tillman also found the net before the interval. Ibrahim Maza completed the scoring late in the game.

AC Milan recorded an identical scoreline away against Salzburg, with teenage forward Alphadjo Cisse netting a hat-trick. Goncalo Ramos added the fourth goal in the 72nd minute.

However, Filippo Terracciano’s red card took some shine off Milan’s emphatic victory.

Other Europa League Results

Elsewhere, Bournemouth defeated Sturm Graz 3-0, while Juventus claimed a 2-1 away victory over Celta Vigo. Olympiacos also secured a narrow 1-0 win against Marseille.

Real Sociedad were held to a 1-1 draw by Union Saint-Gilloise, while Dinamo Zagreb defeated Anderlecht 1-0.

Benfica cruised to a 4-1 victory over Celtic, AZ Alkmaar beat Hapoel Be’er Sheva 2-1, and Besiktas edged Hoffenheim 3-2 away from home.

Other results saw Celje lose 0-3 to Omonia, Ferencvaros defeat Plzen 2-1, Jagiellonia beat Ararat-Armenia 3-1, and Nijmegen draw 1-1 with Levski Sofia.

2026/2027 Europa League Matchday 2 Results

AZ Alkmaar 2-1 Hapoel Be’er Sheva
Celje 0-3 Omonia
Lech Poznan 0-4 Bayer Leverkusen
Lyon 3-2 Crystal Palace
Union Saint-Gilloise 1-1 Real Sociedad
Salzburg 0-4 AC Milan
Sparta Prague 1-1 Lillestrom
Torreense 1-2 Sunderland
Benfica 4-1 Celtic
Bournemouth 3-0 Sturm Graz
Celta Vigo 1-2 Juventus
Dinamo Zagreb 1-0 Anderlecht
Ferencvaros 2-1 Plzen
Hoffenheim 2-3 Besiktas
Jagiellonia 3-1 Ararat-Armenia
Marseille 0-1 Olympiacos
Nijmegen 1-1 Levski Sofia

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Full List: APC Map Out 12 States For Tinubu To Visit For 2027 Campaign Rallies.

Published

1 hour ago

October 16, 2026

NivoNews

The All Progressives Congress (APC) has proposed a schedule for President Bola Tinubu’s campaign rallies across 12 states ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

According to the proposed timetable, the campaign is expected to commence in Kaduna State on October 24, 2026, and conclude with a grand rally in Lagos State on January 9, 2027.

reports that the planned rallies will cover Nigeria’s six geopolitical zones, with Tinubu scheduled to attend campaign events in 12 locations across the country.

Other proposed destinations include Port Harcourt, Jos, Ibadan, Maiduguri, Enugu, Bauchi, Sokoto, Asaba, Kano and Yola.

Full List of Proposed Campaign Dates and Locations

The proposed timetable outlines the following dates and venues for Tinubu’s campaign appearances:

Kaduna, Kaduna State – Saturday, October 24, 2026
Port Harcourt, Rivers State – Saturday, November 7, 2026
Jos, Plateau State – Saturday, November 14, 2026
Ibadan, Oyo State – Saturday, November 21, 2026
Maiduguri, Borno State – Wednesday, November 25, 2026
Enugu, Enugu State – Saturday, November 28, 2026
Bauchi, Bauchi State – Sunday, November 29, 2026
Sokoto, Sokoto State – Friday, December 4, 2026
Asaba, Delta State – Saturday, December 12, 2026
Kano, Kano State – Thursday, December 17, 2026
Yola, Adamawa State – Monday, January 4, 2027
Lagos, Lagos State – Saturday, January 9, 2027

Momodu Questions Tinubu’s Commitment to Free and Fair Elections

Meanwhile, a chieftain of the African Democratic Congress (ADC), Dele Momodu, has expressed doubts about President Tinubu’s commitment to conducting free and fair elections in 2027, claiming that even some of the President’s supporters harbour similar concerns.

reports that the veteran journalist made the remarks during an interview on Arise News’ Prime Time programme.

Momodu alleged that some Nigerians fear Tinubu might be unwilling to relinquish power if he loses the next presidential election.

He, however, insisted that Nigerians would resist any attempt by the President to remain in office after an electoral defeat.

The ADC chieftain further claimed that some governors elected on the APC platform, alongside judges and legislators, were apprehensive about the possible outcome of the 2027 elections.

Speaking during the interview, Momodu said many Nigerians would question whether Tinubu could be trusted to oversee a credible and transparent electoral process.

He argued that some supporters of the President were confident of victory but, according to him, struggled to explain the basis for their optimism beyond their belief in Tinubu’s political influence.

Momodu also maintained that his confidence in the opposition’s efforts was not based solely on his party, but on what he described as the growing determination of ordinary Nigerians who do not want Tinubu to secure another term.

He recalled Tinubu’s political struggle to win a second term as governor of Lagos State, suggesting that opposition figures were also working behind the scenes to challenge his bid for re-election as President.

The ADC chieftain added that some political figures who publicly support Tinubu were allegedly concerned about the current political climate but were reluctant to express their reservations openly.

He concluded by describing the President’s position within the political establishment as one that many were unwilling to challenge directly.

Momodu’s remarks reflect his personal assessment of the political atmosphere ahead of the 2027 elections and his criticism of the Tinubu administration.

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CAF Delegation Arrives In Nigeria For Crucial Final Inspection Ahead Of Assembly, Awards.

Published

2 hours ago

October 16, 2026

NivoNews

A 15-member delegation from the Confederation of African Football (CAF) is expected to arrive in Nigeria on Friday, October 16, to conduct a final inspection of facilities ahead of the 48th CAF Ordinary General Assembly and the 2026 CAF Awards.....KINDLY READ THE FULL STORY HERE▶

The delegation, led by CAF Head of Safety and Security, Dr Christian Emeruwa, will assess venues and related arrangements in Lagos and Abuja to ensure they meet the standards required for hosting the two major continental events.

During their visit to Lagos, the CAF officials will inspect the Wole Soyinka Centre for Culture and Creative Arts, Eko Hotel and Suites, and Murtala Muhammed International Airport. They are also scheduled to meet with representatives of the Lagos State Government.

The team will then proceed to Abuja, where it will assess the Bola Ahmed Tinubu International Conference Centre, Transcorp Hilton Hotel, and Nnamdi Azikiwe International Airport.

The delegation is also expected to pay courtesy visits to the Chairman and Director-General of the National Sports Commission.

A six-member delegation from the Nigeria Football Federation (NFF), led by Dr Ademola Olajire, will accompany the CAF officials throughout the inspection exercise.

The visit follows an earlier assessment conducted between July 31 and August 4, during which initial operational agreements were established.

The final inspection will focus on verifying the readiness of the venues, security provisions and logistical arrangements to ensure the successful hosting of both events.

The 48th CAF Ordinary General Assembly is scheduled to hold on Saturday, November 21, at the Bola Ahmed Tinubu International Conference Centre in Abuja.

Meanwhile, the 2026 CAF Awards ceremony is slated for Monday, December 7, at the Wole Soyinka Centre for Culture and Creative Arts in Lagos.