{
  "id": 15535981,
  "title": "Insurers Await Release of N300bn as CBN Commences Due Diligence",
  "url": "https://urgent.news/2026/10/19/insurers-await-release-of-n300bn-as-cbn-commences-due-diligence",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T01:21:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/19/insurers-await-release-of-n300bn-as-cbn-commences-due-diligence/"
  },
  "original_language": "en",
  "account": null,
  "summary": "Insurers in Nigeria are eagerly awaiting the release of N300 billion in their escrow accounts as the Central Bank of Nigeria (CBN) begins due diligence following the completion of the recapitalisation process. The National Insurance Commission (NAICOM) has formally instructed the apex bank to release the funds, with the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, stating that insurers would receive their funds by the end of September. Mrs. Ebelechukwu Nwachukwu, Chairman of the Nigerian Insurers Association (NIA), confirmed that NAICOM has instructed the CBN to release the funds and assured operators that the funds would be returned within October. Nwachukwu urged insurance operators to deploy the enhanced capital base to expand local underwriting capacity, increase retention during reinsurance renewals, and provide cover for emerging exposures such as cyber and climate risks, as the regulator implements the Risk Base Capital model.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}