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NAICOM Cancels Controversial Insurance Industry Recapitalisation - THISDAYLIVEEbere Nwoji The controversial recapitalisation exercise in insurance industry, tagged Tier Based Solvency Capital increase, initiated by the insurance industry regulator, the National Insurance Commission (NAICOM), has been cancelled. The commission officially announced the cancellation at the weekend through a circular dated Novermber 23, 2018 circulated to all insurance companies. In the circular, titled “Withdrawal …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Recapitalisation Cancellation Spurs Demand for Insurance Stocks - THISDAYLIVEBy Goddy Egene Recent decision by the National Insurance Commission (NAICOM) to cancel its controversial recapitalisation exercise in the insurance sector is impacting positively on insurance stocks, THISDAY’s investigation has revealed. The recapitalisation exercise tagged, ‘Tier Based Solvency Capital Increase,’ was announced in July by NAICOM and the regulator then gave operators January 1, 2019 deadline …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Post-merger: Access to raise N75bn tier II capital – Daily TrustAccess Bank is to raise N75 billion tier 2 capital to strengthen its capital base post-merger with Diamond Bank. The Group Managing Director, Herbert Wigwe, disclosed this, yesterday, while fielding questions on the capital adequacy of the bank to accommodate the merger.ADVERTISEMENT Wigwe said: “We have enough fund to consummate this transaction without doing a …
Source: Daily Trust - 🏆 13. / 51 Read more »
Merger: Access Bank To Raise $250m Tier II Capital In 2019Determined to create the largest bank in Africa, Access Bank Plc yesterday said it had finalised plans to issue 250 million dollars Tier 11 capital in January 2019. The bank’s chief executive officer, Mr Herbert Wigwe, disclosed this at a news conference by Access Bank Plc and Diamond Bank Plc on details of the proposed […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Merger: Access Bank set to raise $250m Tier 11 capital in 2019The bank says it has obtained “No Objection” from the Central Bank of Nigeria (CBN) to undertake a Rights Issue to raise up to N75 billion in the first half of 2019.
Source: PremiumTimesng - 🏆 3. / 78 Read more »