Leverage Capital Market Opportunities To Raise Funds, SEC Urges Insurers

The Securities and Exchange Commission (SEC) has urged listed security companies to instrumentality vantage of opportunities successful the superior marketplace to rise the needed backing for the ongoing recapitalisation exercise, conscionable similar banks raised N3 trillion successful their ongoing banking recapitalisation exercise.

The director-general of the SEC, Dr. Emomotimi Agama, addressed security operators astatine the caller Insurers’ Committee gathering successful Lagos astatine the play and pledged to guarantee underwriters don’t incur immense costs erstwhile raising funds astatine the Exchange.

While advising security operators not to see the Nigerian Insurance Industry Reform Act (NIIRA) 2025 arsenic a privilege to rise wealth but arsenic an accidental to alteration the security industry, helium disclosed that a 14-day model would beryllium opened for companies to process each fundraising requirements astatine the Exchange.

Commending the National Insurance Commission (NAICOM) for the robust narration it has created with the SEC, helium added that some parties person ne'er enjoyed specified collaboration before, urging operators to intensify efforts successful creating security awareness.
Earlier, the commissioner for Insurance, Olusegun Omosehin, appreciated SEC management’s pledged enactment to the security industry, noting that NAICOM would proceed to thrust the manufacture towards harnessing each security opportunities successful the country.

Charging security operators to adhere strictly to the recapitalisation frameworks to guarantee the acceptable objectives are met arsenic stipulated, helium commended security companies for the punctual colony of 2 ample claims that were precocious settled, while

applauding the Nigerian Council of Registered Insurance Brokers (NCRIB) for its swift effect to the caller misgivings by a renowned musician, Yinka Ayefele.