The National Insurance Commission (NAICOM) has ordered the immediate withdrawal and cancellation of Operational Guidelines on State Insurance Producers barely 24 hours after a fruitful town hall meeting of top management of NAICOM and Members of Nigerian Council of Registered Insurance Brokers (NCRIB).
In a swift reaction, the President of the Nigerian Council of Registered Insurance Brokers, Mr Shola Tinubu appreciated the Commissioner for Insurance, Alhaji Mohammed Kari and his team for consideration of NCRIB plea, describing the Commission as a listening regulatory body who has again demonstrated the desire to grow an industry that would contribute meaningfully to the Nation’seconomic growth.
Tinubu, in a statement, made available to Journalists, noted that the gesture would further enhance the Council’s confifldence in the leadership of NAICOM, stressing that the confidence reposed in NAICOM was never betrayed.
According to him, the Council appreciates NAICOM for the magnanimity in withdrawing the guideline as it will lead to the much desired progress and cohesion required for the industry’s growth& we are back on drawing board to chat a way forward in deepening insurance penetration and entrenchment of MDRI among Nigerian populace to ensure more financial inclusion and make insurance a front burner in growing the nation’s economy as it is obtainable in other climes.
It is pertinent to note that the current leadership of NAICOM has over the years demonstrated unprecedented understanding and all inclusive regulatory system whereby the Council has always been carried along in formulation of policies and guidelines before it eventually become operational.
