NEWS
NAICOM Revokes Universal Insurance Licence, Appoints Liquidator
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.
NEWS
NPERA, NPA Begin Talks on Transfer of Inland Dry Port Functions
By David Torough, Abuja
The Nigerian Ports Economic Regulatory Agency (NPERA) and the Nigerian Ports Authority (NPA) have commenced discussions on the transfer of inland dry port-related functions as part of efforts to ensure a seamless implementation of the new regulatory framework and promote the growth of Nigeria’s marine and blue economy.
The meeting, held between the management of both agencies, focused on the technical aspects of the transition, including the need to clearly delineate responsibilities and prevent duplication of functions among relevant government agencies.
The Director-General/CEO of NPERA, Dr. Akutah Pius, said the directive of the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, should be viewed as a directive aimed at advancing the growth and development of the nation’s marine and blue economy.
He stressed that the transition could not be successfully achieved by NPERA alone, noting that the cooperation of all relevant stakeholders was essential.
According to him, the Ministry of Marine and Blue Economy would remain at the centre of the transition process, while relevant mandates would be appropriately transferred to facilitate smooth integration.
He noted that the Minister’s intervention while the NPERA Bill was still before the National Assembly had helped resolve disagreements among agencies and create a foundation for greater inter-agency collaboration.
Akutah further emphasised the importance of unity and cooperation in achieving a successful transition, explaining that the purpose of the meeting was to commence the process of transferring the relevant inland dry port duties to NPERA, in line with the agency’s mandate as an economic regulator.
He said the provisions of the NPERA Act, including Section 51, needed to be effectively operationalised to facilitate a seamless transition and ensure that the various responsibilities of stakeholders were properly aligned.
The NPERA Boss proposed the establishment of a joint committee comprising NPERA, NPA, the National Inland Waterways Authority (NIWA), and the Federal Ministry of Marine and Blue Economy to coordinate the transition process.
He noted that inland dry ports are critical to extending the benefits of the maritime sector to Nigeria’s hinterland and strengthening the country’s trade and logistics network.
Responding, the Managing Director of NPA, Dr. Abubakar Dantsoho described the initiative as a welcome development and assured NPERA of the Authority’s operational and technical support throughout the transition process.
Dantsoho said the process had commenced with the right intention and purpose, adding that updated information on the current status of inland dry ports would be made available to support the deliberations.
He expressed optimism that further engagements would lead to the realisation of the objectives of the transition and strengthen the development of inland dry ports.
The Executive Director of the NPA, Lekan Badmus, commended NPERA for initiating the collaboration, describing the meeting as an important step towards achieving a smooth integration.
He said the agencies had now entered the technical phase of the transition, with particular attention being given to avoiding duplication of functions.
In his closing remarks, Dr. Akutah said that the proposed committee would reconvene with the Minister to obtain further clarification on the transition and agree on the necessary steps to ensure that the process is implemented smoothly and effectively.
Education
JAMB Eases Restriction on SIM Swap, Email Change
The Joint Admissions and Matriculation Board (JAMB) has reviewed its policy on swapping candidates’ registered GSM numbers and changing registered email addresses, allowing candidates who have genuinely lost access to their SIM cards or email accounts to update their details through a controlled process.
The new arrangement, which takes effect from Monday, is designed to assist candidates who have lost access to their registered GSM numbers, particularly those unable to use the numbers for registration for subsequent Unified Tertiary Matriculation Examinations (UTME), as well as those whose registered email accounts can no longer be recovered.
The Acting Director, Public Affairs and Protocols, JAMB, Dr Fabian Benjamin, announced this in a statement on Monday.
The Board had previously restricted SIM swapping and email changes as part of measures to protect candidates’ records from fraud and other security vulnerabilities associated with such alterations.
Benjamin, however, said in the statement that the policy was reviewed following the introduction of enhanced security measures, particularly stronger identity and biometric verification processes.
Under the revised arrangement, candidates can request a GSM number swap, email address change, or both, subject to strict authentication procedures.
According to the Board, the concession is intended to reduce the hardship faced by candidates who lose access to their registered credentials and make the processes leading to tertiary education admission more seamless.
JAMB, however, warned that the service would be available only once to each candidate and would be subject to stringent verification designed to prevent impersonation, fraud and unauthorised alteration of candidates’ records.
Part of the statement read: “The service will be available at designated JAMB Computer-Based Test (CBT) Centres, including State Offices where applicable.
“Candidates seeking to access the service are required to provide the new GSM number and/or email address, as applicable, as well as a duly executed court affidavit scanned and ready for upload.
How to access the service
According to JAMB, candidates are required to log into their e-Facility profiles using their existing credentials, including their email address, registration number or profile code.
“They are then expected to select ‘SIM Swap/eMail Change Payment’ from the menu and pay the prescribed fee.
“After payment, candidates are to proceed to a JAMB CBT Centre and access the SIM Swap/eMail Change Quicklink.
“At the centre, they will enter their profile code or existing GSM number and click ‘Fetch Details’, after which they will undergo biometric verification.
“The candidate will then select the required service — GSM number only, email address only, or both GSM number and email address — before entering the new details and uploading the scanned court affidavit.
“The process is completed by clicking ‘Update’, after which a confirmation message will be displayed upon successful completion,” JAMB stated.
The Board advised candidates to use the service strictly for genuine cases and patronise only designated CBT centres.
JAMB further noted that the reviewed policy was part of its effort to balance strong data security with candidate-friendly service delivery, ensuring that genuine candidates are not unnecessarily disadvantaged by circumstances beyond their control.
NEWS
DAILY ASSET Loses Deputy Editor-in-Chief, Danusa Ocholi
By David Torough, Abuja
The Management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the passage of the newspaper’s Deputy Editor-in-Chief, John Danusa Ocholi.
Ocholi, a veteran Sports Journalist died yesterday afternoon after a protracted illness.
He was 65.His death comes four days after the Newspaper lost its Politics Editor, Mike Odiakose after a brief illness. Odiakose is yet to be buried.
Publisher/Editor-in-Chief of the Newspaper, Dr Cletus Akwaya in a statement last night said the family confirmed the demise of the foremost journalist.
“It is with a heavy heart that we announce the demise of our colleague, our pioneer Editor and Deputy Editor-in-Chief, John Danusa Ocholi”, Akwaya wrote in the statement adding “ we shall miss him dearly”.
The Publisher said “Ocholi was a very dedicated person to the cause of the paper. He was the pioneer Editor, who did quite a lot to take the paper off the ground from inception and remained steadfast through difficult times in the bid to nurture the paper to maturity” Akwaya said.
“We are grateful to God for the gift of Ocholi, who was a team player, motivator and mentor, always full of smiles to reduce tensions in times of difficulties” the Publisher further stated.
He said the Management would await further information from the family on the unfortunate incident.
An indigene of Dekina LGA of Kogi state, Ocholi joined Daily Asset at inception as pioneer Editor in 2017. He was promoted to Managing Editor and then Deputy Editor- in- Chief, the position he held until 2023 when he had health challenges, which made him proceed on sick leave.
He joined DAILY ASSET from Daily Pilot where he worked as Editor of the Weekend Pilot and Deputy Editor of the Daily Pilot. He joined the Nigerian Pilot from Verbatim Magazine, where he served as Editor.
A graduate of Mass Communication, University of Lagos, 1983,
Ocholi began his journalism career with The Voice Newspaper in Makurdi, Benue State as Sports Reporter. He rose to the position of Sports Editor before he voluntarily resigned and joined Champion Newspapers in Lagos as a Sports Journalist. He rose through various positions and eventually became Editor of the highly respected Sporting Champion, Nigeria’s most respected weekly Sports Newspaper in the 1990s in the stable of Champion Newspapers Group.
In 2002, when the acclaimed South African soccer magazine Kick-Off launched its Nigerian edition, Ocholi was appointed to assist the head editor, Kunle Solaja.He later became the Magazine’s Editor before it stopped production.
He also worked at the Newswatch Magazine as Associate Editor and Head of Sports Desk, where he wrote very impactful stories on Nigerian sports and anchored highly celebrated interviews for the famous magazine.
In the course of his career, he covered major international sporting events including Many editions of the Senior and junior Football World Cups, African Cup of Nations (AFCON), international Club engagements, Commonwealth Games amongst others. He was clearly one of the nation’s most renowned Sports journalists.
In 2010, he was selected as a key member of the official Media Sub-Committee appointed by the Nigeria Football Federation (NFF) to oversee Nigeria’s media contingent and operations during the 2010 FIFA World Cup in South Africa.
A community development enthusiast, he was elected as the pioneer president of the Igala Journalists Forum
He left behind his wife and children.


