The Nigerian Factoring Working Group armed with the mandate to develop a conducive legal and regulatory structure for factoring in the Nigerian ecosystem has turned on the insurance industry to collaborate and partner with the rest of the group to deliver on the mandate.
The delegation made up of members from NEXIM Bank, CBN, GIZ and AfreximBank was led by Mr. Hope Yogo, met with CFI/CEO NAICOM Mr. Olusegun Ayo Omosehin in his office i Abuja on Wednesday 28th August, 2024.
Mr. Yogo who first expressed confidence that the new NAICOM leadership will effectively deliver on their mandate, stated that the working group, which is expected to transform into an association very soon, was formed to develop a conducive legal and regulatory infrastructure for factoring in the country. Yogo also stated that the group visit was part of the wide reach to seek collaboration and partnership with the Commission and the insurance companies on their desire to engage all stakeholders in the value-chain and considering the vital role of insurance in factoring.
NAICOM chieftain in his response, pledged full support of the Commission to the development of factoring in Nigeria.
