The National Insurance Commission (NAICOM) has commenced the formal winding-up of NICON Insurance Limited, according to a report by Punch. The regulator has appointed a Receiver/Provisional Liquidator to oversee the process, which involves managing the company's assets and liabilities. The move marks a significant regulatory action against one of Nigeria's legacy insurance firms, though further details on the reasons for the wind-up were not provided in the report.
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