General News
NIA Rises Against Employees’ Compensation Bill
The Nigerian Insurers Association (NIA) has raised its opposition against the Employee Compensation Bill. The bill which is currently awaiting the attention of the National Assembly is seen by insurers as inimical to the smooth running and growth of the insurance industry. Raising its opposition, NIA opined that it was not proper to replace the Workmen’s Compensation Act 2004 with the Employee Compensation Scheme to be managed by the Nigerian Social Insurance Trust Fund, (NSITF). The insurers’ umbrella body recently wrote a strongly worded memorandum to the Senate Committee on Employment, Labour and Productivity, stressing that the NSTIF is incapable of managing the scheme. The memo which was signed by Mr. Wole Oshin, chairman of the association, who stated that the trust fund has been incapable before now in managing the deductions from workers salaries occasioned by the volume of unpaid benefits to retirees
According to the NIA, the Workmen’s Compensation Act 2004 was statutorily required to provide benefits for work-related diseases such as injuries, accidents and death, in the course of duty. It argued that the duty of performing this role the private sector had rested under the insurance companies for decades. It further stressed that the insurance companies have been playing this role well in accordance with the Act. The body stated that since the insurers have been performing this role well, it would be improper and a negation of the spirit of federal government reform program to take the responsibility away from it and entrust it to NSITF, a public institution which already has enough challenges to handle. According to NIA, "Nigerians are aware of how public institutions vested with monopolistic powers and duties have fared. We are not sure that Nigerians want to go through that experience again". The insurers’ body reiterated that the responsibility to handle the management of risks of accident, disease and death, and paying benefits to victims falls within the jurisdiction of insurance. It stressed further that since the insurers have been doing it, there was no gain taking it away from it especially as the NSITF does not have the prerequisites to manage it such as the right training, knowledge and expertise to manage risks emanating from these tasks. The insurers’ body emphasized that "under the present Workmen’s Compensation Act the liability for Workmen’s Compensation is on the Employers, and they are expected to insure the liability with insurance companies who must provide the money for payment of compensation whenever the need arises". Earlier, the National Insurance Commission (NAICOM), the regulatory body of the insurance industry had raised its objection to the move to transfer workmen’s compensation to the NSITF. With the latest move by the association, industry watchers are waiting to see which direction the pendulum would swing.
Veteran Applauds NAICOM over Claims’ Disputes Resolution
Alade Olafinmiyan, veteran insurance broker, has praised the oversight r of the National Insurance Commission (NAICOM), stressing that its promptness in rising to industry challenges has helped in curtailing the excesses of some insurance companies. He explained that apart from the intervention of the commission in addressing past challenges, the recent ones aimed at finding lasting solutions to disputes arising from claims is commendable. He recalled that in recent times, NAICOM has intervened in the redressing complaints arising from over 170 cases. HE stated that “the intervention led to settling claims’ dispute amounting to N182.321million. To have achieved this only within the first quarter of 2010 is an indication that the regulator is up to growing challenges facing the industry.” According to spokesperson of the commission, Mr. Lucky Fiakpa he explained in a statement recently that most of the settled complaints were concluded in January while the other cases which were spill- over from last year were also concluded within the time under reference.
Apparently excited at the way the Commission handled his claim issue, an assistant director with the National Institute for Policy and Strategic Studies (NIPSS) wrote to the Commission recently to express his feelings when he said he respectfully thank the commission “for the prompt action that compelled the insurance company to settle my claims after 987 days. It paid the sum of N338, 895.60 inclusive of the accrued interests for the period it held the money", he disclosed. Corroborating, a Loss adjuster also commended NAICOM when he wrote that to confirm that they have received the insurer’s cheque for the amount involved in full and final settlement of their indebtedness to their organization, while expressing deep appreciation to the commission for its prompt intervention and immediate conclusion of their case. Olafinmiyan emphasized that when a body is performing creditably, the achievement cannot be hidden from industry watchers who expect high ethical standard from public institutions. He recalled the NAICOM’s recent breakdown of settled disputes concerning claims involved a total of 142 cases which were received by it between January and March 2010 while 72 of the correspondences were fresh complaints. It would be recalled that the commission’s image maker had stated its recent statement that, Properfunds Limited lodged a complaint before the commission that five insurance institutions issued their guarantee bonds in various sums of money in their favour and when there was a default, the insurance companies refused to settle the claims with incidental interests. He explained that rising from these complaints, the commission also resolved the case between Crusader General Insurance Limited and the complainant which brought about a cheque payment of N389.021.78 which had since been issued to the complainant as full and final settlement. Also as an attestation, Mr. Fola Daniel, commissioner for insurance, had expressed concern over the issue of non-payment of claims by few operators in the market which over the years has given the industry a bad name. The commissioner gave stern warning to operator that cheques must be paid out within 90 days after due process had been followed, adding that the commission would not hesitate to cancel the licence of any defaulty operator. The veteran advised the operators to cooperate with the leadership of NAICOM to ensure that its regulatory duties are performed creditably.
General News
Kaspersky Reveals How Digitalisation is Influencing Family Life

Kaspersky’s latest global research shows that mostly all people currently interact with their family members digitally: 86% of all participants communicate with family via messaging apps, 58% have regular video calls, and 44% have even established joint streaming service accounts.

While digitalisation offers unprecedented convenience and flexibility in family communication, Kaspersky experts warn that this increased online connectivity demands a heightened awareness of digital safety practices and the protection of devices.
Communication in the digital sphere has become an integral part of everyday life. Thanks to video calls and instant messaging, we can maintain connections with our loved ones, no matter where we are.
Digitalisation has reshaped not only how we communicate, but also how we spend our free time together. Kaspersky has conducted a survey* to reveal the common patterns of modern family life in the digital age and discover the cybersecurity challenges that lurk beneath our screen interactions.
Cyber safety during family communication
According to the survey, regular messaging via WhatsApp, Telegram, Signal, Viber and other messenger apps were top of users’ choices when communicating with their families.
People in the 35-54 age group were the most likely to engage this way, with 89% of respondents choosing this option. Video calls were a much less popular option among respondents as a way of keeping in touch with relatives, with only 58% choosing this digital solution.
Another popular way of staying connected online for many families is exchanging posts and memes on social media and messengers (53%). The 18-34 age group leads this trend with a 58% participation rate, showcasing how humor and shared cultural references are becoming essential family bonding mechanisms.
The older generation (above 55 years old) is in general less digitally engaged than other ages, though the share of those who chat with their families in messengers is on par with the average (85%). 42% of this age group even exchange memes and posts via social media.
Despite the fact that older people are more active in the digital sphere, they may still not be ready to face cyber threats and scams. Users should therefore educate their older relatives on how to stay safe online and use gadgets securely.
Even for advanced users, communication online carries potential cyber security risks. From phishing attempts disguised as legitimate messages to sophisticated social engineering attacks, the digital battlefield operates within our most personal communication channels.
To ensure the complex protection for your messengers it’s highly recommended to enable two-factor authentication where possible, use unique, complex passwords for each account, remain skeptical of unexpected links or attachments, use a reliable security solution with anti-phishing protection for messengers and follow security tips from Kaspersky experts.
Family accounts – convenience or risk?
The survey shows that in their free time 70% of families choose to watch movies together, with 44% having family streaming accounts. Online games do not have such popularity as a family pastime, with only 35% of general respondents opting for them.
While sharing streaming subscriptions and gaming accounts may seem like a cost-effective solution, it opens the door to a host of digital vulnerabilities that can compromise your family’s security and privacy, especially when an account is used by different family members under the same login and password. Such accounts create a perfect storm for security breaches.
If one family member’s device is compromised, hackers gain access to the entire account. Additionally, password reuse across multiple platforms means that a single breach could expose your financial information, email accounts, and other sensitive data. To manage all passwords securely, it’s highly recommended to use a password manager for all family members.
“As our family life moves more and more online, it opens up amazing ways to stay close and create memories – but it also brings new risks, like scams and hacking. Kids and older relatives can be especially at risk, so looking out for each other online is really important.
“Protecting your digital privacy and using cybersecurity measures is an important way to care for your loved ones and keep your family safe”, comments Marina Titova, Vice President for Consumer Business at Kaspersky.
General News
NCC Slaps ₦250,000 Fee on Trial Licences to Spur Telecom Innovation

Nigerian Communications Commission (NCC) has rolled out a new ₦250,000 application fee for companies seeking temporary approval to test innovative telecom services, aiming to fast-track sector modernisation while safeguarding consumers.

NCC
The fee targets the newly launched Interim Service Authorisation (ISA), a short-term licence enabling telecom operators, startups, and tech firms to trial novel offerings in live markets before full commercial rollout. Contained in NCC’s freshly published General Authorisation Framework, the charge covers administrative processing, with successful applicants potentially facing extra costs for spectrum or numbering resources.
Under the rules, firms pay the ₦250,000 upfront upon application. Trials run for an initial three months, renewable once up to six months total, capped at 10,000 users and restricted geographically. Operators must prove their service is genuinely new, detail regulatory hurdles, outline consumer safeguards, and submit monthly reports, all while upholding data protection, security, and rights obligations.
NCC Executive Vice-Chairman Aminu Maida, who previewed the draft in July, said exploding tech advances had outstripped old licensing models, necessitating reform to foster innovation without skimping on public safeguards. The ISA lets providers gauge technical viability, market appetite, and risks, while regulators scrutinise quality and impact pre-scale-up.
“This framework strikes a balance—unleashing experimentation in spectrum sharing, Open RAN, and alternative connectivity, minus the pitfalls of unchecked rollouts,” an NCC statement noted. Participation offers no automatic path to full licences; commercial bids hinge on fresh evaluations and category fits.
Industry players hailed the move as a risk-reducer for unproven ideas, potentially slashing flop costs in Nigeria’s cut-throat telecom arena. With participation limited and monitoring rigorous, the NCC bets on controlled pilots to propel breakthroughs, cementing Africa’s giant as a digital vanguard.
As operators eye 5G-plus frontiers, the ISA arrives amid investor clamour for agile rules, positioning Nigeria to harvest homegrown tech leaps without consumer blowback.
General News
Naira Smashes Through ₦1,400 Barrier in Official FX Rally

Nigerian naira strengthened to a record high of about ₦1,400 to the US dollar at the official market during midweek trading, continuing an appreciation trend seen since the start of the week.

FX
Data released by the Central Bank of Nigeria (CBN) showed that the currency appreciated by 1.26 per cent on Tuesday, January 27, at the Nigerian Foreign Exchange Market (NFEM), with the dollar quoted at ₦1,401.22. This represented a gain of ₦17.73 compared with the ₦1,418.95 recorded on Monday, January 26.
The naira had already posted significant gains in the previous session, closing at around ₦1,401.20 per dollar, its strongest level since the introduction of the Electronic Foreign Exchange Matching System (EFEMS).
The currency has recorded incremental daily gains in recent sessions, rising between 0.1 per cent and 0.36 per cent on some trading days. In the parallel market, bureau de change operators in Lagos quoted the dollar between ₦1,475 and ₦1,490 on January 27, with average buying and selling rates of ₦1,480 and ₦1,490 respectively.
Market analysts attribute the improved performance at the parallel market to enhanced foreign exchange liquidity and further regulatory reforms implemented by the CBN.
The naira has sustained its upward momentum into early 2026, building on the gains recorded in 2025, when it posted its strongest performance in over a decade, appreciating between 7 and 9 per cent against the US dollar.
Analysts generally expect the currency to remain within a relatively stable range in the medium term, with several projections indicating it will trade between ₦1,400 and ₦1,500 to the dollar this year, supported by improved liquidity and ongoing macroeconomic reforms.
The Nigerian Economic Summit Group has projected that the naira will trade at around ₦1,480 to the dollar in 2026. The group also expects Nigeria’s external reserves to rise steadily to about $52 billion, driven by the consolidation of recent reforms and sustained stabilisation efforts.
E-Financial3 days agoCBN Upgrades Licences of Opay, Moniepoint, Kuda, Palmpay, Paga to National Status
- E-Financial3 days ago
Nigeria’s 9 Top FinTech Firms Valued at $10.6Bn in January 2026
News3 days agoTech Executives Double Down on AI, Talent and Adaptive Strategies to Lead in the Intelligence Age
E-Financial3 days agoNIBBS to Boost Financial Inclusion with Offline Payment Solutions
News3 days agoDHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu
E-Financial2 days agoPayPal Goes Live in Nigeria through Paga
E-Business3 days agoFirm Identifies AI as Common Denominator in Entertainment Industry’s 2026 Security Threats
Broadcasting2 days agoNITDA, NBC Explore Strategic Collaboration on Digital Transformation, Media Regulation













