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Reps panel moves to cut budget funds for 22 defaulting agencies

The House of Representatives Committee on Public Accounts has asked that 22 federal ministries, departments and agencies be removed from the 2026 budget over alleged refusal to account for public funds. Chairman Bamidele Salam said the affected institutions repeatedly ignored audit queries and legislative summons covering the 2020, 2021 and 2022 financial years.​ Agencies named include the Nigerian Meteorological Agency, Federal Housing Authority, Standards Organisation of Nigeria, National Insurance Commission, National Business and Technical Examinations Board and the Corporate Affairs Commission. Others are the Federal Ministry of Housing and Urban Development, Ministry of Women Affairs, Council for the Regulation of Freight Forwarding in Nigeria, FCT Secondary Education Board, several federal universities, polytechnics, colleges and federal medical centres.​ Salam said the MDAs failed to submit audited accounts for between three and five years and did not provide key financial records despite […]

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NAICOM Directs Insurance Customers to Link NIN to Policies

The National Insurance Commission (NAICOM) has issued a directive requiring all insurance companies and brokers in Nigeria to collect verifiable identity details—including the National Identification Number (NIN), Bank Verification Number (BVN), and Corporate Affairs Commission (CAC) documents for corporate clients—before initiating or renewing any insurance policy. The directive, effective immediately, is designed to strengthen market transparency, fight financial crime, and align insurance with national integrity standards. Policies already in force must be updated to include the required identity details by December 31, 2025. For group/corporate coverage, comprehensive employee lists with all relevant data must be provided before activation. NAICOM warned that insurers and brokers failing to comply will face regulatory sanctions. The agency encourages customer sensitisation campaigns and will monitor compliance closely to ensure a more secure, resilient, and competitive insurance sector.

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Court Stops Nigerian Govt From Deregistering Youth Council NYCN

A Federal High Court in Abuja has ordered the Nigerian government to halt its plan to deregister the National Youth Council of Nigeria (NYCN). The order stops the Corporate Affairs Commission (CAC) and the Ministry of Youth Development from withdrawing the council's certificate of registration until a legal dispute is resolved. The case was filed by the NYCN's President, Amb. Sukubo Sara-Igbe Sukubo, after the Ministry announced the council's deregistration on October 7th, despite his recent re-election. Justice B. F. M. Nyako gave the order on October 15, 2025, directing all parties to "maintain the status quo." This means the NYCN will continue to operate as normal for now, and its leadership remains recognized. The court has instructed the defendants—the CAC and the Youth Ministry—to be formally notified of the lawsuit. The case has been adjourned to October 28, 2025, […]

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