Nigerian newspapers review: [Recapitalisation] 12 insurance firms in tight corner

In today’s Nigerian newspapers review programme, Today in the News, Vanguard’s lead headline states that 12 insurance companies are at risk of not meeting the recapitalisation requirement before July 31.

Another headline features the leadership crisis rocking the African Democratic Congress, ADC, which has snowballed into a full-blown political war, with three rival camps laying claim to the soul of the party in what insiders describe as a fierce “winner-takes-all” struggle ahead of the 2027 general elections.

Vanguard also reports that the Federal Government says deductions from the federation earnings by the Federation Account Allocation Committee, FAAC, are being misrepresented as a diversion of revenue.

Moving to the next paper, The Guardian leads with a surge in advanced ransomware attacks targeting Nigerian government agencies and major financial institutions over the past three weeks, revealing critical weaknesses in the country’s fast-growing digital economy.

The Punch leads with uncertainty mounting within the ruling All Progressives Congress over its preferred consensus strategy for the 2027 elections, with party sources indicating that direct primaries may be adopted in states where “agreements prove difficult.”

Finally, The Nation reports on the uncertainty in Rivers State as a coalition led by Nyesom Wike seeks to unite ruling and opposition parties behind a single governorship candidate for next year’s election.

Vanguard News

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