NAICOM Hails Passage of Insurance Reform Bill by HoR
By Patience Ikpeme
The National Insurance Commission (NAICOM) has expressed its satisfaction with the passage of the Insurance Reform Bill by the Federal House of Representatives.
This development follows the bill’s prior passage by the Senate in December 2024, marking a significant step towards transforming Nigeria’s insurance industry.
NAICOM is hopeful that President Bola Ahmed Tinubu will soon sign the bill into law, allowing for the implementation of its provisions.
As the primary regulator of the insurance sector, NAICOM is dedicated to ensuring the industry’s positive contribution to Nigeria’s financial framework.
The Commission believes that the Insurance Reform Bill, once enacted, will significantly impact the industry, leading to increased insurance penetration, greater public trust, and enhanced competitiveness.
NAICOM commended the leadership of the National Assembly for their work in passing the bill and anticipates its presidential assent.
The Commission is confident that the Reform Bill will usher in a new period of growth and development for the insurance industry in Nigeria.
