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Cornerstone Insurance Takes over Annuity Business of Defunct Niger Insurance

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Cornerstone Insurance Plc, one of Nigeria’s leading insurance providers has taken over the annuity business of defunct Niger Insurance Plc, and will continue to pay its customers on the scheme.

Niger Insurance Plc’s operational license was cancelled in June 2022 by the National Insurance Commission (NAICOM) and handed over to liquidators following the Company’s insolvency and inability to meet its contractual obligations.

Stephen Alangbo, group managing director/CEO of Cornerstone Insurance Plc made the disclosure while addressing annuitants and stakeholders at the Company’s Annuity Forum held in Abuja.

He noted that Cornerstone Insurance Plc has successfully taken over the annuity payments of former Niger Insurance Plc customers, following regulatory approval.

Speaking on the Company’s Annuity Program, Alangbo reassured Nigerian retirees of its unwavering commitment to reliability, transparency, and service excellence.

He emphasized the company’s solid financial standing and its readiness to continue delivering on its promises.

He stated, “Our annuitants represent the trust our customers continue to place in us, the commitment of our people, and the strength of our vision. We are building a future-ready business, one that remains relevant to individuals, families, and businesses across Nigeria.”

Alangbo also spoke on the implications of the recently signed Nigerian Insurance Industry Reform Act (NIIRA 2025), which requires significant recapitalization across the industry. He assured annuitants that Cornerstone remains financially secure and ahead of the curve:

“Subject to confirmation from NAICOM, Cornerstone Insurance Plc does not need to raise additional capital under NIIRA 2025. We are solid, we are transparent, and we are fully able to continue paying your claims without interruption.”

Appreciating the presence of retirees, guests, and members of the press, the CEO reiterated the company’s philosophy of keeping promises and putting customers first:

“At Cornerstone Insurance Plc, we are not like any other insurance company. We are unique. We are transparent. We keep our promises, and your trust is the foundation of everything we do.”

With over three decades of operations, strong subsidiaries in FIN Insurance and Hilal Takaful, and a reputation for integrity and customer focus, Cornerstone Insurance continues to lead with integrity, innovation, empathy, team spirit and professionalism; reassuring Nigerian retirees that their future remains in safe hands.

The event, which featured health checks, entertainment, quizzes, gifts and refreshments, provided a platform for honest conversations on enhancing customer experience and reaffirming Cornerstone’s leadership in the annuity space.

Cornerstone Insurance is licensed and re-certified by the National Insurance Commission (NAICOM) to provide both general and life insurance services. As the first insurance company in Nigeria to offer customers an online platform for insurance transactions, its services are driven by cutting-edge technology, making them easily accessible via the internet and mobile platforms.


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Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

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As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


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35 Million Nigerians Face Acute Hunger in 2026, UN Warns

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About 35 million Nigerians face acute hunger risks in 2026, including three million children battling severe malnutrition, the United Nations has warned, attributing the crisis to collapsing global aid budgets and escalating violence in the northeast.

35 Million Nigerians Face Acute Hunger in 2026, UN Warns

UN Resident and Humanitarian Coordinator Mohamed Malick Fall disclosed this on Thursday during the launch of the 2026 humanitarian plan in Abuja, noting that the traditional foreign-led aid model proves unsustainable amid Nigeria’s escalating needs.

He highlighted dire conditions in Borno, Adamawa and Yobe states, where over 4,000 people perished in the first eight months of 2025 from surging suicide bombings and attacks—equalling the entire previous year’s toll.

The UN now targets $516 million to deliver lifesaving aid to 2.5 million people this year, a sharp drop from 3.6 million in 2025 and half of prior levels, forcing prioritisation of only the most critical interventions.

Fall stressed, “These are not statistics. These numbers represent lives, futures and Nigerians,” as shortfalls last year compelled the World Food Programme to halt support for over 300,000 children after resources dried up in December.

Yet, Fall acknowledged Nigeria’s increasing national ownership, including local funding for lean-season food assistance and proactive flood early-warning systems, signalling a shift toward self-reliant crisis response.


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NITDA Commits to Digital Inclusion for Persons with Disabilities

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The National Information Technology Development Agency (NITDA) has reaffirmed its commitment to inclusive digital development following the completion of a two-day digital literacy training for persons with disabilities (PWDs) in Abuja.

The programme, organised under NITDA’s Digital Literacy for All (DL4ALL) initiative, the programme trained 50 participants in practical digital skills to enhance their participation in Nigeria’s expanding digital economy.

In his remarks, the Director-General, Kashifu Inuwa CCIE, stated that the programme reflects the agency’s determination to ensure accessibility remains a core component of national digital transformation efforts.

He explained that genuine digital advancement cannot be realised without the inclusion of persons with disabilities, adding that millions of Nigerians remain constrained by limited access to accessible and inclusive digital platforms.

“In many cases, the problem is not the absence of digital tools but the lack of accessibility. Platforms that do not support assistive technologies, non-captioned content and inaccessible websites effectively shut people out and limit opportunities,” he added.

Inuwa further explained that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusivity as a driver of national development. He stressed that persons with disabilities should be recognised as active contributors to economic growth rather than dependants.

“When equipped with the right skills and technologies, persons with disabilities become innovators, entrepreneurs and professionals who contribute meaningfully across sectors,” he added.

He acknowledged the role of Inclusive Friends Association (IFA) and SIMBED in delivering the training, describing the collaboration as a model of how government and civil society partnerships can advance inclusive development.

Highlighting NITDA’s broader digital literacy drive, the Director-General said the DL4ALL programme is a key component of the agency’s Strategic Roadmap and Action Plan, which targets 70 per cent digital literacy by 2027 and 95 per cent by 2030.

He explained that the initiative operates through three main tracks: an informal sector programme that has trained more than 480,000 Nigerians across 30 states and the Federal Capital Territory since September 2024; an education sector programme focused on embedding digital skills into learning institutions; and a workforce readiness programme designed to strengthen digital competence in both public and private sectors.

“This programme is not merely a pilot. It is proof that inclusive and intentional training works, and that persons with disabilities can excel when given equal opportunities,” Inuwa stated.

Also speaking, the Managing Director and Chief Executive Officer of SIMBED, Mr Daniel Onunkwo, described the training as a significant step towards closing the digital inclusion gap for persons with disabilities.

Onunkwo added that the initiative sends a strong message about equity and national progress, adding that SIMBED remains committed to expanding digital empowerment for persons with disabilities.

Similarly, the Executive Director of Inclusive Friends Association, Grace Jerry, represented by Tracy Agbamu, commended NITDA for demonstrating intentional leadership in promoting inclusion under the Renewed Hope Agenda.

She urged participants to continue applying the skills acquired and to serve as digital inclusion advocates within their communities.

The training programme further strengthens NITDA’s vision of building a digitally inclusive Nigeria where access to digital opportunities is determined not by physical ability but by empowerment and innovation.


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