Recapitalisation: NIA backs NAICOM as 7 more insurance firms clear hurdle
Meanwhile, the Nigerian Insurers Association, NIA, has thrown its weight behind the National Insurance Commission, NAICOM, on the recapitalisation exercise.
Ebelechukwu Nwachukwu, in a statement yesterday, noted that the exercise underscores the importance of an orderly and clearly defined regulatory process and represents an important milestone in strengthening the financial capacity and stability of the sector, marking a pivotal milestone in bolstering the financial capacity, stability, and global competitiveness of the Nigerian insurance sector.
The regulatory agency said in a statement in yesterday that with the latest announcement, the Nigerian insurance industry recapitalization exercise had been concluded.
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