NAICOM Applauds NASS for Passing Insurance Regulatory Bill

The National Insurance Commission (NAICOM) commended the National Assembly (NASS) for the successful passage of the National Insurance Regulatory Commission Bill. NAICOM expressed appreciation to the Senate Committee on Banking, Insurance and Other Financial Institutions for their crucial role in this achievement.

The legislation is considered a significant milestone in strengthening Nigeria's insurance regulatory framework, enhancing oversight, transparency, and accountability. It aims to deepen public confidence, attract investment, and promote sustainable growth benefiting policyholders, operators, and the broader economy.

NAICOM acknowledged the vision and dedication of the Senate leadership, particularly Senator Adetokunbo Mukail Abiru, the Chairman of the Committee, for championing reforms to modernize insurance regulation and advance financial inclusion in Nigeria. The Commission reaffirmed its commitment to effectively implement the new law once signed and to collaborate with stakeholders to position the insurance industry as a catalyst for national development.