NAICOM revokes Nigeria Reinsurance’s licence, appoints Muiz Banire as receiver/liquidator

By Innocent Anaba The National Insurance Commission, NAICOM, has revoked the operating licence of Nigeria Reinsurance Corporation over its failure to meet the statutory Minimum Capital Requirement, MCR, and appointed Dr. Muiz Banire, SAN, as Receiver/Provisional Liquidator to wind up the company’s affairs.The appointment took effect on August 3, 2026, following the cancellation of the…