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    Insurance Firms Penalized ₦74 Million Over Filing Delays

    Insurance Firms Penalized ₦74 Million Over Filing Delays The Nigerian Exchange (NGX) has imposed fines totaling ₦74 million on five insurance companies for failing to submit their financial reports on time. This was revealed in the latest X-Compliance Report, an initiative to uphold market...
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    Ponzi Scheme Operators Face Tougher Penalties

    Ponzi Scheme Operators Face Tougher Penalties Proposed Fine and Jail Term Announced by SEC The Securities and Exchange Commission (SEC) is cracking down on Ponzi scheme operators to protect Nigerian investors. A newly proposed Investment and Securities Bill (ISB) 2024 includes strict...
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    CBN AND SEC IMPOSE N1.5BN FINES ON 10 NIGERIAN BANKS FOR FOREX VIOLATIONS

    CBN AND SEC IMPOSE N1.5BN FINES ON 10 NIGERIAN BANKS FOR FOREX VIOLATIONS In the first half of 2024, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) sanctioned 10 major banks for violations related to foreign exchange guidelines and other regulatory...
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    SENATE'S PROPOSAL FOR FINES ON UNLICENSED INSURANCE FIRMS

    SENATE'S PROPOSAL FOR FINES ON UNLICENSED INSURANCE FIRMS 1. Proposed Legislation: - Bill Overview: The Nigerian Senate has proposed a bill titled "Nigeria Insurance Industry Reform Bill, 2024," sponsored by Senator Tokunbo Abiru and 40 other senators. The bill aims to reform the insurance...
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