By Tony Obiechina Abuja
The National Insurance Commission (NAICOM) has commended the the Federal House of Representatives for the speedy passage of the Insurance Reform Bill.
The Upper Chambers of the National Assembly had in December 2024 passed the same same bill.
NAICOM said in a statement on Thursday that “This is a milestone achievement that marks yet another significant step towards transforming the insurance industry in Nigeria”.
“The Commission is enthusiastic about the prospects of the bill receiving assent from Mr. President, which will pave the way for the implementation of its provisions.
“As the apex regulator of the insurance industry, NAICOM is committed to ensuring that the sector contributes positively to Nigeria’s financial landscape.
We believe that by the time the Insurance Reform Bill is signed into Law, it will have a profound impact on the industry, leading to improved penetration, increased public confidence, and enhanced competitiveness”, the statement added..
“We salute the leadership of the National Assembly for their efforts in passing the bill and look forward to its assent by Mr. President. We are confident that the Reform Bill will usher in a new era of growth and development for the insurance industry in Nigeria”, NAICOM said.
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