The Nigerian Insurers Association NIA has raised hopes that President Mohammadu Buhari will accent to the consolidated insurance bill 2020 before the end of the 9th National Assembly.
The hopes of the ascent was streamed by the Chairman, Nigerian Insurers Association, Olusegun Omosehin (pictured) at a press conference at Insurers House, Victoria Island, Lagos. His confidence scales past the likelihood of the process stalling, insisting his optimism rests on near finished process of a legislature sponsored bill.
Omosehin who stated that the process for reviewing the Insurance Act 2003 has been ongoing since year 2020 when the Consolidated Insurance Bill was proposed was confident that with the legislative process concluded, the administrative arm of the National Assembly now is saddled with finishing the last process before the President’s accent.
Stating the Association’ attachment to the legislative procedure, Omosehin said, “we have been following through with all the processes and I am indeed delighted to inform you the bill has been passed. It is currently going through the remaining legislative procedures preparatory to the Presidential accent.
“We are hopeful that it will receive speedy attention so that the industry can begin to tap into the opportunities provided by the new law,” he declared.
