NDLEA DISMANTLES ABUJA DRUG BUNKS, ARRESTS 132, RECOVERS 220KG ILLICIT SUBSTANCES. (PHOTOS). #PRESS RELEASE.

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 NDLEA dismantles Abuja drug bunks, arrests 132, recovers 220kg illicit substances  -Marwa hails operation, vows to sustain crackdown in FCT, other states  In a non-stop two-week offensive action against traffickers and dealers, operatives of the National Drug Law Enforcement Agency (NDLEA) have successfully dismantled several drug joints and bunks within and around the Federal Capital Territory (FCT) Abuja where a total of 132 suspects were arrested and 220 kilograms of assorted illicit substances recovered. The wel-coordinated raids jointly conducted by the Agency's Directorate of Operations and General Investigation (DOGI) and the FCT Strategic Command from llth to 25th April 2026 were launched to dismantle illicit drug hubs contributing to substance abuse, trafficking, and associated criminal activities in the capital city after weeks of intelligence and surveillance across all identified hotspots. Areas where notorious drug joints were raided, dismantled and suspects...
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PRESIDENT TINUBU ASSENTS TO NIGERIAN INSURANCE INDUSTRY REFORM BILL 2025 TO DRIVE FINANCIAL SECTOR TRANSFORMATION. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE


 


PRESIDENT TINUBU ASSENTS TO NIGERIAN INSURANCE INDUSTRY REFORM BILL 2025 TO DRIVE FINANCIAL SECTOR TRANSFORMATION


 


President Bola Ahmed Tinubu has assented to the Nigerian Insurance Industry Reform Bill, 2025 — a landmark legislation to strengthen Nigeria's financial sector and accelerate the nation's march toward a $1 trillion economy.


 


The Nigerian Insurance Industry Reform Act (NIIRA) 2025 repeals and consolidates several outdated insurance laws into a single, modern legal framework. The new Act provides for comprehensive regulation and supervision of all insurance and reinsurance businesses operating within Nigeria.


 


This development reaffirms the administration's commitment to financial stability, economic development, and inclusive growth.


 


The NIIRA Act 2025 ushers in a new era of transparency, innovation, and global competitiveness for the insurance industry. It aligns with the Federal Government's vision of achieving a $1 trillion economy.


 


As part of the Renewed Hope Agenda for the Insurance Sector, the Act introduces critical measures such as:


 


1. Stringent capital requirements to ensure the financial soundness of operators;


 


2. Enforcement of compulsory insurance policies to enhance consumer protection;


 


3. Digitisation of the insurance market to improve access and efficiency;


 


4. Zero tolerance for delays in claims settlement;


 


5. Creation of dedicated policyholder protection funds, especially in cases of insolvency;


 


6. Expanded participation in regional insurance schemes, including the ECOWAS Brown Card System.


 


The National Insurance Commission (NAICOM) is mandated to administer and implement the provisions of the NIIRA 2025 in a manner that unlocks the industry's full potential and significantly improves insurance penetration across the country.


 


The reform introduced by the new law is expected to catalyse new investments, boost consumer confidence, and position Nigeria as a leading insurance hub in Africa.


 


 


Bayo Onanuga


Special Adviser to the President


(Information & Strategy)


August 5, 2025

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