The National Insurance Commission (NAICOM) is hopeful that the 10th National Assembly will pass the reintroduced 2020 Consolidated Insurance Bill and that President Bola Tinubu will sign it.
At the 2023 retreat for journalists covering the insurance industry in Uyo, Akwa Ibom, Mr. Sunday Thomas, CEO of NAICOM, spoke.
According to the News Agency of Nigeria (NAN), the retreat’s theme was “Improving Stakeholders Perception; 2023 and Beyond”.
According to Thomas, previous President Muhammadu Buhari regrettably did not sign the combined insurance bill before he left since it was delivered too late.
“There are protocols and methods for such, of course. The National Assembly is currently considering it, but we won’t start over from scratch.
“The first reading of the bill has now been completed, and we are working to ensure that it is finished as soon as possible.
The business community had high hopes that the previous administration would pass the measure, but that didn’t happen.
The bill is a game changer because of all that it contains and how important it is to the sector, but we haven’t given up on our hope, he said.
He claims that business owners in the insurance industry are not just waiting for the bill to be passed but are also getting ready to take off once it becomes law. (NAN)
