Nigeria has introduced a new law, the Nigerian Insurance Industry Reform Act 2025 (NIIRA), which makes it mandatory for public buildings to be insured.

While insurance requirements for public properties were included in the previous Insurance Act 2003, the new legislation significantly increases penalties for non-compliance.

READ MORE: FCT Police Arrest Notorious Car Theft Syndicate, Recover Stolen Vehicles

Landlords and building occupiers who fail to insure their properties now face fines starting at ₦1 million, a tenfold increase from the previous ₦100,000, and/or up to 12 months imprisonment.

The mandatory insurance policies are designed to cover risks such as fire, flood, building collapse, and other hazards. They also protect building owners and occupiers from legal liabilities in cases of injury, death, or property damage affecting occupants or third parties.

There are concerns that the new law could lead to higher rents, as some property owners may pass the cost of insurance premiums onto tenants.

However, the government and the National Insurance Commission (NAICOM) emphasize that the law is intended to safeguard citizens and their investments, particularly in response to frequent building collapses and other disasters in the country. Officials believe the move will also provide a boost to the nation’s insurance sector.

Delta Police Arrest Eight-Member Syndicate For Robbery, Fraud

Operatives of the Delta State Police Command have apprehended a group of suspected armed robbers and fraudsters who allegedly specialize in defrauding and dispossessing unsuspecting residents across the state.

According to DAILY POST, the arrests were carried out between August 11 and 16, 2025, following an intelligence-led operation.