By Tony Obiechina, Abuja

National Insurance Commission (NAICOM) has revoked the certificate of registration of Universal Insurance Plc and appointed a receiver/provisional liquidator to oversee the winding-up of the company’s affairs.

The revocation took effect from 14th August, 2026, following the insurer’s failure to meet the prescribed Minimum Capital Requirement (MCR) applicable to its licence category within the stipulated compliance period.

In a notice dated 13th August and addressed to the chairman of the Board of Directors of Universal Insurance Plc, NAICOM stated that it took the action pursuant to the powers conferred on the commission under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The commission subsequently appointed Ogbonna Chukwumerije, a partner at Pinheiro LP, as receiver/provisional liquidator of the insurance company.

Under the terms of his appointment, dated 14th August, Chukwumerije is required to immediately locate, recover, secure, and take possession of the assets of Universal Insurance Plc.

He is also mandated to compile, verify, and settle the company’s liabilities in accordance with NIIRA 2025, liaise with NAICOM regarding information available to the Commission, and submit periodic reports on the progress of the liquidation process.

NAICOM stated that the appointment was subject to the receiver executing a Deed of Appointment and complying with the terms of his engagement, as well as the relevant laws and regulations governing receivership and liquidation.

In a separate public notice dated 18 August 2026, Chukwumerije formally notified banks, financial institutions, policyholders, creditors, debtors, customers, agents, and the public of his appointment and the commencement of the receivership process.

He said the appointment followed NAICOM’s cancellation of Universal Insurance’s registration because it failed to meet the applicable minimum capital requirement.

According to the notice, the receiver is empowered under NIIRA 2025 and the terms of his appointment to assume control and management of Universal Insurance Plc.

He is also authorised to locate, recover, secure, and take possession of all company assets and to undertake the necessary measures for their preservation, protection, and realisation.

Chukwumerije further elaborated that he would compile, verify, and settle the company’s liabilities in accordance with NIIRA 2025, other relevant laws, and directives issued by NAICOM.

The receiver also warned stakeholders against dealing with the company or acting on instructions purportedly issued on its behalf without his authorisation.

Banks, financial institutions, policyholders, creditors, debtors, agents, customers, and the public were specifically instructed not to honour, process, recognise, or act upon any instruction, mandate, payment direction, withdrawal request, transfer instruction, or other communication purportedly issued on behalf of Universal Insurance Plc.

Such instructions would only be recognised if issued by him or by a person explicitly authorised in writing by him.

He directed all persons and institutions holding or dealing with the company’s assets, funds, records, policies, claims, liabilities, or other affairs to verify the authority of anyone claiming to act for Universal Insurance during the liquidation.

The receiver stated that only instructions bearing his official seal and stamp as a Legal Practitioner and Receiver/Provisional Liquidator, or those issued by persons duly authorised by him in writing, would be recognised concerning the company’s matters.

He also cautioned individuals and institutions against acting on instructions purportedly emanating from the company, its former officers, directors, employees, agents, or representatives unless he had duly authorised them.

Chukwumerije further directed anyone in possession, custody, or control of any asset, fund, document, book, record, policy, claim, or other property belonging to or relating to Universal Insurance Plc to cooperate fully with the receivership and comply with lawful requests and directives issued during the liquidation.

He stated that the notice took immediate effect and would remain in force throughout the liquidation process, subject to any further directives or notices issued by NAICOM or the receiver.

The lawyer also stated that the receivership aims to safeguard the company’s assets and ensure that valid claims are properly identified, assessed, and managed in accordance with applicable laws and regulations.

The documents did not disclose the total value of Universal Insurance’s outstanding liabilities, the number of affected policyholders, or the value of assets to be recovered.

The development is expected to trigger a comprehensive process to identify the company’s assets and liabilities and assess the status of outstanding obligations to policyholders, creditors, and other stakeholders.

The cancellation also coincides with NAICOM’s enforcement of minimum capital requirements applicable to insurance companies under Nigeria’s current regulatory framework.

With the appointment of a receiver/provisional liquidator, the responsibility for managing Universal Insurance’s affairs and dealing with its assets and liabilities now rests with Chukwumerije, subject to NIIRA 2025 and NAICOM’s oversight.

NAICOM’s appointment letter was signed by Olusegun Ayo Omosehin, Commissioner for Insurance and Chief Executive Officer of the Commission.

The receiver’s public notice was dated 18 August 2026.

From Ifeanyichukwu Nwannah, Gusau

At least 46 people have died after a boat carrying 77 passengers capsized in Gorau community, Goronyo Local Government Area of Sokoto State, with 15 others rescued alive and 16 still missing as rescue operations continued on Thursday.

The victims were reportedly travelling to their rice farms when the boat capsized shortly after taking off while crossing a waterway.

The passengers included farmers, farm labourers, women and children, with some reports indicating that several of the children were between 10 and 15 years old.

The Sokoto State Police Command confirmed the casualty figures, saying local divers, officials of the National Emergency Management Agency (NEMA), the State Emergency Management Agency (SEMA) and the police were involved in the search and rescue operation.

The command’s spokesman, Ahmed Rufai, said, “Forty-six corpses have so far been recovered, while 15 persons were rescued alive,” adding that rescuers were still searching for the remaining 16 passengers.

A local journalist at the scene, Sharhabilu Yahuza Kiliya, said more than 70 people were aboard when the canoe overturned. He said the village head was among those on board but was rescued.

The accident has plunged Gorau into mourning, with families anxiously awaiting information about relatives who remain missing. Local divers and emergency responders reportedly began searching immediately after the incident, recovering bodies from the water.

A senior NEMA official, who identified himself as Alhaji Ibrahim, said the agency had mobilised personnel to the community to support the rescue operation.

The cause of the accident had not been established as of the time of filing this report.

The tragedy has also renewed concerns about the safety of farming communities that depend on waterways to reach their farms. It occurred exactly one year after a similar boat accident in Kijio community, also in Goronyo Local Government Area.

Reacting to the incident, the African Democratic Congress governorship candidate in Sokoto State, Hon. Manir Muhammad Dan’iya, described the accident as a “devastating tragedy” and called for urgent measures to prevent a recurrence.

Dan’iya urged the Sokoto State Government and emergency agencies to deploy additional personnel, medical teams and rescue equipment, while calling for proper identification and documentation of the victims to assist their families.

He also advocated the provision of regulated boats and life jackets, training for boat operators, improved emergency response equipment and the construction of bridges or alternative crossings where necessary.

“No farmer should have to risk his or her life simply to access a farm and provide food for the family,” he said.

The ADC candidate commiserated with the bereaved families and the Gorau community, while urging residents to cooperate with emergency responders as the search for the missing passengers continues.

From Yagana Ali, Yola

The All Progressives Congress (APC) in Adamawa State has formally kicked off its campaign for the 2027 general elections, throwing its political machinery behind President Bola Tinubu’s bid for a second term while mobilising support for the party’s National Assembly candidates.

The campaign flag-off, held on Tuesday, drew party leaders, aspirants, supporters and grassroots mobilisers, who gathered to rally support for the APC and begin what party officials described as an intensive statewide mobilisation ahead of the elections.

Representing Governor Ahmadu Umaru Fintiri at the event, Deputy Governor Professor Kaletapwa Farauta described the flag-off as more than a conventional political rally, saying it marked the beginning of a determined effort to mobilise the people and secure victory for the APC in Adamawa.

Farauta commended President Tinubu for what she described as his administration’s efforts to reposition the country through its policies and programmes.

She urged Nigerians to support the Federal Government by voting for the APC in 2027, arguing that continuity would allow the administration to consolidate its ongoing reforms and development initiatives.

According to her, the Adamawa APC would leave no stone unturned in its bid to secure victory for President Tinubu, the party’s senatorial candidates and House of Representatives aspirants across the state.

Farauta said the party would take its campaign directly to the people, with supporters expected to engage residents at the grassroots and mobilise voters across communities.

She urged party members to remain committed and united as the campaign progresses, stressing that victory would require sustained engagement with voters at the grassroots.

Also speaking on behalf of the senatorial and National Assembly aspirants, Mustapha Salihu described the rally as a historic moment and the beginning of a new political chapter for the APC.

Salihu said Nigeria had endured significant challenges in recent years but was gradually moving towards a period in which the impact of the Federal Government’s reforms would become more evident.

He therefore appealed to Nigerians to support President Tinubu’s re-election and vote for APC candidates in the National Assembly elections, saying continuity in leadership was important for consolidating ongoing development efforts.

Salihu disclosed that the campaign was initiated by the North-East Door-to-Door Movement before receiving the support of the Adamawa State Government.

Speaking on behalf of the movement’s leadership, including High Chief Government Ekpemupolo, popularly known as Tompolo, he expressed appreciation to Governor Fintiri and the people of Adamawa for their support and participation.

He described the turnout at the rally as an indication of the commitment of supporters to the APC’s political agenda ahead of the 2027 elections.

Adamawa State APC Chairman, Hamza Madagali, thanked party supporters for responding to the mobilisation call and urged them to maintain the momentum beyond the campaign launch.

Madagali charged party members to take the campaign to homes, markets, villages, settlements and places of worship, stressing the importance of direct engagement with voters.

He said the APC’s chances of success in 2027 would depend largely on the dedication of its members at the grassroots.

The chairman urged party faithful to remain united, organised and committed to the mobilisation drive, saying sustained interaction with voters would be critical to delivering victory for President Tinubu and the party’s National Assembly candidates across Adamawa.

With the campaign now formally underway, the APC is expected to intensify its grassroots activities across the state as political parties begin positioning themselves for the 2027 general elections.