CAPITALDIGEST DAILYNEWS, 22/06/2026

NIGERIA’S CRUDE IMPORTS JUMP 309% TO $1.39BN

Nigeria imported crude oil worth $1.39bn in the first quarter of 2026, highlighting a major shift in the country’s petroleum trade dynamics as the Dangote Petroleum Refinery increasingly sourced feedstock from international markets despite Nigeria’s status as Africa’s largest crude oil producer. Data obtained from the Central Bank of Nigeria’s Balance of Payments Highlights for the first quarter of 2026 showed that crude oil imports rose from $340m in the fourth quarter of 2025 to $1.39bn in Q1 2026, representing a 308.82 per cent quarter-on-quarter increase. The development comes amid the rapid expansion of local refining capacity, particularly at the Dangote refinery, which has continued to increase production volumes and exports of refined petroleum products while supplementing domestic crude supplies with imported grades. The CBN report showed that crude oil imports accounted for about 81.8 per cent of Nigeria’s total imports of crude oil, gas and refined petroleum products, which stood at $1.70bn during the review period. The figure highlights the growing dependence of the Dangote refinery on imported crude despite ongoing efforts by regulators to improve domestic crude supply arrangements. The increase in crude imports contrasted with a collapse in refined petroleum product imports, which fell by 87.5 per cent to $310m in Q1 2026 from $2.48bn in the preceding quarter. The sharp decline reflects the increasing substitution of imported fuel with locally refined products as domestic refining capacity expands. According to the apex bank, the decline in fuel imports was one of the key factors that strengthened Nigeria’s external position during the quarter. The report read, “Refined petroleum products imports declined to $0.31bn in Q1 2026, from $2.48bn in Q4 2025.” The reduction in fuel imports coincided with a rise in exports of refined petroleum products, which increased by 20.3 per cent to $2.37bn in Q1 2026 from $1.97bn in the previous quarter. The trend suggests that Nigeria is gradually transitioning from a net importer of refined petroleum products to becoming a significant exporter, driven largely by the output of the Dangote refinery and other domestic refining facilities. The CBN noted that the country’s goods account surplus rose significantly to $5.95bn in the first quarter of 2026 from $1.77bn in the preceding quarter and $3.35bn in the corresponding period of 2025. “The goods account (a major sub-account in the current account) recorded a significantly higher surplus of $5.95bn in Q1 2026, as against $1.77bn and $3.35bn recorded in the preceding quarter and corresponding period of 2025,” the report read. The stronger trade position was also supported by higher crude oil exports. Earnings from crude oil exports rose by 19.79 per cent to $8.11bn from $6.77bn in the previous quarter, while gas exports increased by 12.95 per cent to $2.53bn from $2.24bn. Refined petroleum product exports also climbed to $2.37bn from $1.97bn. Overall exports increased to $15.49bn during the quarter from $13.36bn in Q4 2025, while total imports declined by 17.69 per cent to $9.54bn from $11.59bn. The improvement in trade flows helped lift Nigeria’s current account surplus to $4.98bn in Q1 2026, compared with $1.40bn in the preceding quarter and $3.41bn in the corresponding period of 2025. The latest figure represents a 255.71 per cent increase from the previous quarter and a 46.04 per cent rise year-on-year. According to the CBN, the higher current account surplus was driven by increased earnings from crude oil, gas and refined petroleum exports, lower imports of refined petroleum products and a reduction in net out-payments on the primary income account. The report stated, “Provisional balance of payments statistics for Q1 2026 show a current account surplus of $4.98bn, which was higher than the $1.40bn and $3.41bn recorded in the preceding quarter and corresponding period, respectively.” Despite the stronger current account performance, Nigeria recorded a lower overall balance of payments surplus of $2.38bn in the first quarter, compared with $2.67bn in Q4 2025. However, the country’s external reserves increased to $48.35bn at the end of March 2026 from $45.75bn at the end of December 2025, reflecting continued foreign exchange inflows and improved external sector conditions. The PUNCH earlier reported that local refineries in Nigeria received only 28.5 million barrels of crude oil in the first quarter of 2026, despite higher volumes offered by producers under the Domestic Crude Supply Obligation framework, according to data from the Nigerian Upstream Petroleum Regulatory Commission. Figures released by the commission indicated that while 61.9 million barrels were allocated to domestic refiners during the period, oil producers collectively offered 68.7 million barrels. However, actual deliveries lagged significantly, with refiners lifting just 28.5 million barrels, representing a supply conversion rate of between 36 and 46 per cent. The development showed a persistent gap between crude availability and actual refinery intake, raising fresh concerns over feedstock adequacy for Nigeria’s refining ambitions. Despite the supply gaps, the commission reaffirmed its commitment to improving crude availability for local refining as part of the Federal Government’s energy security drive. The Crude Oil Refiners Association of Nigeria attributed the growing reliance of the Dangote Petroleum Refinery on imported crude to commercial pricing structures and crude grade differentials in the domestic market. Speaking in a recent interview with The PUNCH, CORAN Publicity Secretary, Eche Idoko, said the refinery’s preference for imported crude is largely driven by economics and product compatibility rather than a lack of demand for local supply. He explained that Nigerian producers predominantly sell Brent-linked crude at a premium, while the refinery often imports West Texas Intermediate crude, which better aligns with its operational configuration. Idoko said, “So one of the major issues we are having with Dangote buying more crude from the U.S. is because of the type of products offered and the pricing. It is based on commercials. So producers sell more Brent crude at a premium, but the import from other countries is WTI, another grade that is utilised by the refinery.” He argued that the current pricing framework places domestic refiners at a disadvantage compared with international sourcing options, particularly in terms of competitiveness and risk exposure. According to him, a more tailored pricing mechanism is needed to reflect Nigeria’s local refining realities and reduce reliance on external markets. He stressed that aligning crude pricing with domestic refining needs could help strengthen local supply chains and reduce the growing dependence on imported feedstock.

CBN PLANS INVISIBLE PAYMENTS, FLAGS DATA PROTECTION GAPS

The Central Bank of Nigeria’s ambition to transform its payment ecosystem through biometric-driven and “invisible” transactions may redefine how millions of citizens pay for goods and services, but the bank has warned that the country’s preparedness on data privacy, identity management and consumer protection will determine whether the initiative succeeds. This was highlighted in the Nigeria Payments System Vision 2028, a strategic roadmap designed to build a secure, innovative and inclusive payments ecosystem. Recall that the bank recently launched the Payments System Vision 2028 to build on Nigeria’s progress in digital payments and provide a roadmap for developing a payment ecosystem that is secure, resilient, inclusive, and globally competitive. The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, at the event, said an efficient payment system remains one of the fastest ways to lift millions of Nigerians out of poverty, as the apex bank unveiled the Nigeria Payments System Vision 2028. According to him, “One of the fastest ways to take a large number of people out of poverty is through an efficient payments system. It’s through an efficient payment system. So let us not look at it lightly.” An excerpt of the newly released document analysed by our correspondent on Wednesday revealed that this will be for certain transactions such as transport fares, utility bills, and subscription services. The report noted that biometric authentication could also be deployed at agent locations, Point-of-Sale terminals, micro-Automated Teller Machine stands and conventional Automated Teller Machine stands, where fingerprints or other biometric identifiers may replace or complement PINs. It stated that such arrangements could prove particularly beneficial for individuals who face challenges with literacy or remembering card credentials. Under the sub-theme, “Enabling Seamless Biometric-Driven and Invisible Payments,” the document proposes a future where Nigerians can authorise transactions using fingerprints, facial recognition, iris scans or other unique biological traits, reducing reliance on passwords, PINs and one-time passcodes. The framework envisions a payment landscape where commuters board buses and trains with a simple tap, utility bills are settled automatically with prior approval, and customers complete purchases without queuing at checkout counters. According to the document, “Biometric-driven payments are payment experiences where a person confirms a transaction using a unique trait such as a fingerprint, face, iris, or palm/vein pattern instead of (or in addition to) traditional methods like entering a PIN or one-time code. The aim is to make payments faster, simpler, and more secure, while keeping individuals in control of consent, privacy, and cost. “Biometric-driven payments can power a range of experiences: a) Everyday taps on phones, cards, and wearables at transit gates and retail checkouts. b) “Invisible” or background payments where a user has pre-approved a safe pattern (e.g., transit, subscriptions, utility bills) and still receives clear alerts and receipts. c) Assisted transactions at agents, POS/micro ATMs, and ATMs, where a biometric can replace or reinforce a PIN; especially helpful where literacy or card/PIN management is a barrier. d) Government-to-Person disbursements, fee payments and targeted subsidies, including offline options in low-connectivity areas.” It explained that two major models would drive adoption. The first is on-device verification, where biometric information remains stored on a customer’s phone, card or wearable device and is verified locally. The second is server-side or terminal verification, where biometric templates are matched through trusted systems or payment terminals, enabling transactions across multiple devices and locations. However, the vision document acknowledged that broader deployment of the latter approach would require “stronger privacy, security and governance controls, including clear consent, data minimisation, secure storage, retention and deletion rules, and fast redress mechanisms.” The report noted that Nigeria’s existing legal framework already places significant obligations on organisations processing biometric information. “Legal and privacy expectations are high,” the document stated. “Nigeria’s data-protection law treats biometric data as sensitive. That means organisations must obtain clear consent, collect only what is necessary, keep data secure, report any breaches, and complete a Data Protection Impact Assessment before launching higher-risk processing.” The emphasis on privacy comes amid growing public concern over how personal information is collected, stored and shared across digital platforms. While biometric authentication could reduce certain forms of fraud associated with stolen cards and compromised passwords, the consequences of biometric data breaches could be far-reaching because fingerprints and facial patterns cannot simply be replaced like conventional credentials. The payments vision acknowledged these concerns. “People worry about hidden charges and misuse of biometrics,” the document noted. “Programmes need to prove they are user-centred by providing simple consent at enrolment, clear receipts for every transaction, advance alerts before any recurring debit, and easy dispute and reversal routes with clear timelines.” The document also highlighted security threats specific to biometric systems, warning that inadequate safeguards could expose consumers to new forms of fraud. “If anti-spoofing is weak, attackers can use fake fingerprints or face images to impersonate customers, especially at agent locations and cash-out points,” it stated. “Experience from other markets shows that cloned biometrics and transactions without proper consent can occur when controls and grievance handling are weak. Nigeria needs to plan for these risks from the start.” Beyond privacy and fraud concerns, the report identified infrastructure limitations as another major barrier to nationwide adoption. It noted that although many Nigerians live within areas covered by mobile networks, a significant proportion do not regularly use mobile internet because of affordability constraints, limited digital literacy and device limitations. The document added that USSD platforms still account for a substantial share of financial transactions among low-data users, although service disruptions linked to commercial disputes and technical downtime have affected reliability in recent years. According to the roadmap, the country’s current payment environment is characterised by fragmented data systems and varying device capabilities, leading to inconsistencies in user experience and risk management. While biometric authentication already exists within the banking system, its application remains limited. “Biometric authentication is available but limited, primarily through biometric ATMs deployed in selected branches rather than at scale,” the report observed. It added that consumers had become increasingly conscious of privacy rights, demanding greater transparency regarding the use of their personal information. To address these concerns, the vision proposes that Nigeria prioritise on-device biometric authentication, supported by robust consent frameworks that allow users to suspend, modify or cancel recurring payment arrangements. The strategy also seeks stronger alignment between the Bank Verification Number and National Identification Number databases to reduce verification failures and improve transaction integrity. According to the document, Point-of-Sale terminals at merchant outlets and agent locations are expected to become the first major touchpoints for biometric payments. Over time, these capabilities could expand to contactless systems, facial recognition solutions, wearable devices and small-format checkout-free retail environments where adequate safeguards exist. The roadmap further recommends the introduction of public scorecards to measure service quality, complaint resolution timelines and other consumer protection indicators across payment providers. The report acknowledged that foundational identity challenges remain. “Nigeria’s identity rails have advanced with the BVN and the National Identification Number,” it stated. “To support biometric payments at scale, further work is required to address residual misalignments across systems, including incomplete linkages and occasional record inconsistencies, that can contribute to verification failures and service friction.” It also warned that intermittent disruptions across identity and telecommunications infrastructure could undermine public confidence. “Intermittent outages, inconsistent synchronisation between NIN, BVN and telco KYC systems, and incomplete BVN linkages across accounts create operational friction for biometric-dependent flows,” the document noted. “These breaks manifest as verification failures at point of service, repeated re-enrolments and user attrition.” To improve readiness, the vision outlined plans for biometric-enabled PoS terminals and micro-ATMs equipped with liveness detection capabilities, agent training programmes, standardised device certification requirements and offline transaction policies for low-connectivity environments. It also proposed a national device programme involving locally assembled smartphones and payment devices with preloaded software development kits, wallet applications and consent management tools. The document set ambitious targets for implementation, including achieving at least 90 per cent BVN-NIN linkage in pilot corridors, maintaining identity interface availability of 99.5 per cent, recording authentication success rates above 98 per cent and ensuring that receipts are delivered within minutes of completed transactions. Under its long-term vision spanning the next five years, Nigeria aims to achieve widespread deployment of biometric-enabled PoS terminals while allowing ATMs, wearables and invisible payment channels to complement the ecosystem. Despite the promise of greater convenience and financial inclusion, analysts say public trust will remain the decisive factor. The success of biometric payments, they argue, will depend not only on technological innovation but also on the ability of regulators, financial institutions and service providers to convince Nigerians that their most sensitive personal data will be protected. As the country moves towards a future where paying with a fingerprint or facial scan could become commonplace, the challenge may no longer be whether the technology works, but whether citizens are willing to trust the systems behind it. Nigeria has consistently expanded its digital payments ecosystem over the last decade through initiatives such as instant payments, direct debits, the Bank Verification Number framework and USSD banking. The PSV 2028 represents the next phase of that evolution, focusing on frictionless and largely automated payment experiences. However, unlike previous innovations, biometric payments involve the processing of highly sensitive personal data, making privacy, transparency and consumer protection central to their success. The proposed framework therefore seeks to balance innovation with safeguards that preserve public confidence in the financial system.

FOREIGN INVESTORS BUY $3.3BN NIGERIAN BONDS IN THREE MONTHS

Foreign investors channelled $3.23bn into Nigerian bonds in the first quarter of 2026, highlighting a strong appetite for the country’s fixed-income securities amid elevated interest rates and improving confidence in the foreign exchange market.Data from the latest capital importation report released by the National Bureau of Statistics showed that bond investments accounted for 32.71 per cent of the $9.86bn portfolio investments recorded during the quarter and 31.10 per cent of the total $10.37bn capital imported into the country. The bond inflow represented a 267.67 per cent increase from the $877.41m recorded in the corresponding period of 2025 and a 63.76 per cent rise from the $1.97bn attracted in the preceding quarter. The surge in bond inflows came as total capital importation rose to $10.37bn in Q1 2026, an increase of 83.83 per cent from the $5.64bn recorded a year earlier and 60.97 per cent higher than the $6.44bn posted in the fourth quarter of 2025. The report showed that portfolio investment remained the dominant investment category, attracting $9.86bn and accounting for 95.09 per cent of all capital imported during the quarter. Within the portfolio investment segment, money market instruments led with $6.50bn, representing 65.95 per cent of portfolio inflows, while bonds followed with $3.23bn. Equity investments remained subdued at $131.81m, accounting for just 1.34 per cent of portfolio investment. The NBS noted, “Portfolio Investment ranked top with $9.86bn, accounting for 95.09 per cent, followed by Other Investment with $374.48m, accounting for 3.61 per cent. Foreign Direct Investment recorded the least with $135.08m.” An analysis of the data showed that bonds recorded the fastest growth among the major portfolio investment components. While equity inflows increased by only 12.34 per cent year-on-year and money market investments rose by 54.51 per cent, bond inflows surged by 267.67 per cent, highlighting investors’ preference for longer-dated fixed-income instruments. The sharp increase reflects the attractiveness of Nigerian sovereign debt instruments, which have offered among the highest yields in emerging and frontier markets following the Central Bank of Nigeria’s aggressive monetary-tightening cycle over the past two years. Since assuming office in September 2023, CBN Governor Olayemi Cardoso has led the Monetary Policy Committee through one of the most aggressive tightening cycles in Nigeria’s history, raising the Monetary Policy Rate from 18.75 per cent to a peak of 27.50 per cent through a series of hikes in 2024 aimed at curbing inflation, stabilising the naira and restoring investor confidence. After holding the benchmark rate at 27.50 per cent throughout most of 2025, the MPC began a cautious easing cycle in September 2025, cutting the MPR by 50 basis points to 27.00 per cent as inflation moderated for several consecutive months, before lowering it further to 26.50 per cent in early 2026. At its most recent 305th meeting in May 2026, the MPC opted to retain the MPR at 26.50 per cent and leave all other key policy parameters unchanged, citing renewed inflationary pressures linked to global energy market disruptions while seeking to preserve the macroeconomic gains achieved through earlier tightening measures. The NBS report further showed that the banking sector attracted the largest share of total capital inflows at $7.55bn, or 72.79 per cent, followed by the financing sector with $2.43bn, or 23.42 per cent. By source country, the United Kingdom accounted for the largest share of capital importation at $5.08bn, or 49.01 per cent, followed by the United States with $3.18bn, or 30.69 per cent, and South Africa with $983.83m, or 9.49 per cent. The figures suggest that foreign investors are increasingly deploying funds into Nigerian debt securities, betting on attractive yields and improved foreign exchange liquidity, even as foreign direct investment remained weak at just $135.08m, representing 1.30 per cent of total capital inflows during the quarter. The PUNCH earlier reported that the Federal Government borrowed N2.69tn from the domestic bond market in the first quarter of 2026, as strong investor demand continued to drive subscriptions above offer levels despite tighter allotments. An analysis of Debt Management Office auction results indicated that the total was raised through a combination of competitive and non-competitive allotments across the three months. The figures showed that the government offered N2.45tn worth of bonds in the quarter, while investors submitted subscriptions totalling N5.88tn. Out of this, about 45.64 per cent was allotted, indicating that less than half of the total bids were accepted. A year-on-year comparison showed that the government significantly increased its borrowing from the bond market. In the first quarter of 2025, total allotment stood at about N1.94tn, compared to N2.69tn in the same period of 2026, representing an increase of N750.08bn, or 38.76 per cent. Reacting, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said the surge in foreign investment into Nigerian bonds highlighted the trade-off between attracting capital and rising debt-servicing costs. He noted that while high yields on government securities had helped draw portfolio investors, they were also increasing the burden of public debt. Yusuf told The PUNCH that the interest rates offered on government bonds and treasury instruments were excessively high and required coordination between fiscal and monetary authorities to moderate. “It’s helping us to attract portfolio investment, but it’s creating a huge burden of debt service. We have to balance those two objectives. We have to improve portfolio flows, but it’s costing us a lot in terms of our domestic borrowing and debt-servicing costs,” he said. The economist argued that Nigeria should reduce its reliance on debt-funded public projects by expanding public-private partnerships. According to him, governments should identify commercially viable infrastructure projects and offer them to private investors rather than financing them through additional borrowing.

CBN BETS ON DIGITAL PAYMENTS FOR ECONOMIC TRANSFORMATION

When most Nigerians transfer money from a mobile phone, pay for groceries through a Point-of-Sale terminal, receive salaries instantly or make online purchases, few pause to think about the infrastructure working behind the scenes. Yet for the CBN, that invisible network has become one of the country’s most important economic assets. The apex bank believes the next phase of Nigeria’s economic growth may depend not only on roads, power plants and factories but also on how efficiently money moves across households, businesses and borders. That conviction formed the basis of the Payments System Vision 2028 unveiled recently by the CBN in Abuja, where regulators, banks, fintech operators, telecommunications companies and payment infrastructure providers gathered to discuss the future of Nigeria’s digital economy. The initiative arrives at a time when digital payments have become deeply embedded in everyday life. The scale of Nigeria’s digital payments revolution is evident in the numbers. Electronic transactions across banking channels climbed to N284.9tn in the first three months of 2025, while the NIBSS Instant Payments platform processed approximately 11 billion transactions in 2024, reflecting the growing shift by households and businesses towards digital financial services. Electronic transactions have equally continued to rise as mobile banking, agent networks and fintech platforms expand across the country. That conviction formed the basis of the Payments System Vision 2028 unveiled recently by the CBN in Abuja, where regulators, banks, fintech operators, telecommunications companies and payment infrastructure providers gathered to discuss the future of Nigeria’s digital economy. The initiative arrives at a time when digital payments have become deeply embedded in everyday life. The scale of Nigeria’s digital payments revolution is evident in the numbers. Electronic transactions across banking channels climbed to N284.9tn in the first three months of 2025, while the NIBSS Instant Payments platform processed approximately 11 billion transactions in 2024, reflecting the growing shift by households and businesses towards digital financial services. Electronic transactions have equally continued to rise as mobile banking, agent networks and fintech platforms expand across the country. For the CBN Governor, Olayemi Cardoso, the new vision extends beyond payment technology. “Today, we unveil more than a payments strategy. We unveil a vision for how Nigerians will transact, trade, save, invest, and participate in an increasingly digital economy,” he told stakeholders at the launch of the Payments System Vision 2028. The statement captures a growing consensus among policymakers and industry leaders that payment systems have evolved into critical economic infrastructure capable of influencing productivity, trade, financial inclusion and investment. Nigeria’s payment transformation did not happen overnight. The journey began almost two decades ago when the CBN launched a roadmap to modernise the country’s payment system. Speaking at the event, the Director of Payments System Policy, Musa Jimoh, recalled an era when cash dominated economic activities, ATMs were scarce and financial services remained inaccessible to millions of Nigerians. According to him, three major obstacles stood in the way of financial inclusion. Banking services were expensive, financial access points were limited, and opening an account often required documentation that many Nigerians did not possess. To address those challenges, the regulator introduced policies ranging from the cashless initiative to agent banking to simplified account-opening processes. The results have been significant. Jimoh revealed that agent banking outlets have expanded from about 50,000 agents in the early years to more than two million spread across the country today. The expansion has helped bring financial services closer to communities that previously lacked bank branches and has supported the rapid growth of digital payments. Nigeria’s financial inclusion drive has recorded further gains, with the World Bank’s Global Findex 2025 showing that 63 per cent of adults now own an account and 54 per cent make digital payments. Still, millions of Nigerians remain outside the formal financial system. The challenge, therefore, is no longer simply about access.

WHY INSURANCE PENETRATION IS LOW IN NIGERIA – NCRIB

The Nigerian Council of Registered Insurance Brokers has identified exclusion of pensions and micro insurance drivers, lack of technology as well as ignorance as reasons for low insurance penetration in Nigeria. The President, NCRIB, Mrs Ekeoma Ezeibe, raised the concerns on Tuesday at Nnamdi Azikiwe University, Awka, Anambra State during the 2026 Inaugural Annual Insurance Week. She regretted that insurance penetration of other countries, including South Africa and Kenya were far higher than that of Nigeria. According to her, while Nigeria’s insurance penetration is below one percent, that of South Africa is nearly 12 percent whereas Kenya is above 7 percent. “But to be realistic, looking at South Africa and Kenya vis-a-vis their insurance market, and the drivers of their insurance penetration, you discover they are mostly pensions and micro insurance. “But in Nigeria, pension which used to be part of insurance in Nigeria, is now excised with introduction of Pension Reforms Act and now domiciled with the National Pension Commission. “If you check how many trillions that are domiciled from Pension Funds with PenCom, you can imagine what will happen if it is brought into the insurance net in Nigeria. Ezeibe noted that if pension funds are brought into the Nigerian insurance net, insurance penetration would have shot up just like that of the South African and Kenyan markets. “Another driver in other countries are micro insurance. Yes, Nigeria hasn’t paid attention to micro insurance until later. “As a result, the National Insurance Commission which is our regulator now started licensing micro insurance companies so they can take care of those not financially included in the insurance safety net. “The micro insurance companies have been licensed to underwrite businesses from the low income generators like the artisans, farmers, food vendors, petty traders and others. “When you congregate all these people into the insurance safety net, you can then appreciate that little drops of water can really make a mighty ocean. “Another reason for low insurance penetration is because Nigeria has not fully employed technology which is now globally accepted due to its ease of doing business, speed and efficiency characteristics.” While identifying ignorance as another reason for the insurance low penetration challenge, Ezeibe argued that ignorance does not necessarily stem from poverty, saying even certain rich individuals could largely be ignorant as well. “You hear people say God is their protector. Yes, God does protect. But the same God has given us intelligence for us to apply it towards taking care of ourselves. This is why awareness creation on insurance is very important,” she added. The Vice-Chancellor (VC), Nnamdi Azikiwe University, Prof Ugochukwu Anyaehie, praised the faculty for attracting stakeholders in the insurance industry, saying the move would further improve the institution’s growth. The vice-chancellor, represented by Deputy Vice-Chancellor, Academics, Prof Alex Asigbo, expressed the University’s willingness to partner with the organisation, including provision of institutional support. Earlier, Programme Coordinator, Insurance Programme, Department of Banking and Finance, Faculty of Management Sciences, Prof Victor Okonkwo described the theme: “Insurance for All: Driving Inclusion, Innovation, and Trust” as both a timely reflection of market demands and an urgent blueprint for national development. “Our theme for this week is also entirely synchronised with our Insurance programme vision: to advance knowledge-driven, trust-based and technology-enabled risk management solutions. “These solutions will enhance financial security and sustainable economic development across Nigeria and the continent,” he added.