Lasaco Assurance Plc has successfully concluded its Rights Issue, raising N19.30 billion and surpassing its target by 4.5 percent. The capital raise has received full verification from the National Insurance Commission (NAICOM) and final approval from the Securities and Exchange Commission (SEC). This milestone significantly strengthens the insurer’s capital base, supporting its compliance with the Nigerian Insurance Industry Reform Act 2025 and enhancing its overall underwriting and risk retention capacity.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.