NAICOM Lauds Passage of Insurance Reform Bill, Eyes Presidential Assent
Samuel Mobolaji
The National Insurance Commission (NAICOM) has lauded the Federal House of Representatives for passing the Insurance Reform Bill, a landmark development aimed at transforming Nigeria’s insurance sector.
This follows its earlier passage by the Upper Chamber in December 2024, marking a critical step toward industry-wide reform.
NAICOM expressed confidence that once the bill receives presidential assent, it will unlock the full potential of the insurance industry, ensuring its alignment with Nigeria’s broader economic goals.
The Commission remains committed to fostering an insurance sector that drives economic growth, enhances financial security, and boosts investor confidence.
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As the apex regulator of the insurance industry, NAICOM believes the bill’s enactment will improve market penetration, strengthen public trust, and enhance the sector’s global competitiveness.
The Commission commended the National Assembly’s leadership for prioritising industry reform and anticipates the President’s approval, which will set the stage for a new era of growth and stability in Nigeria’s insurance landscape.
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