Nigeria’s Federal Government Orders Insurance Companies To Get Fresh Microinsurance Licence Within 18 Months

The Nigerian Federal Government has issued an 18 month ultimatum to 17 insurance companies selling microinsurance products to acquire fresh microinsurance licences or suspend the selling of these products. The Federal Government, which gave this deadline through its agency, the National Insurance Commission(NAICOM), added that, in a case where any of the concerned insurance firms… Continue reading Nigeria’s Federal Government Orders Insurance Companies To Get Fresh Microinsurance Licence Within 18 Months

Nigeria’s Central Bank warns Banks against offering of products with Insurance features

DON’T OFFER PRODUCTS WITH INSURANCE FEATURES- CBN WARNS BANKS The Central Bank of Nigeria (CBN) has advised banks in Nigeria to desist from offering products to their customers that incorporate insurance features. The CBN also warned banks not to offer free premium payments as a feature of any of their products. Nigerian banks are enjoined… Continue reading Nigeria’s Central Bank warns Banks against offering of products with Insurance features