A ten-member committee has been constituted by the federal government to
review the Insurance (Consolidated) Bill. The move seeks to align the
bill with the principles of global best practices in the insurance
industry as well as enhancing a well organized insurance industry in the
country.
The review, upon completion, would pave the way for a new drafted bill
that would be sent to the National Assembly for deliberation.
The Minister of Finance, Mrs. Kemi Adeosun, who disclosed that the
review committee has been constituted said members of the committee were
drawn from both the public and private sectors and that the outcome of
the review would upon completion be submitted to the house within three
months.
It would be recalled that the Director (Press), Federal Ministry of
Finance, Mr. Marshall Gundu had on Monday given a hint in statement that
the Review Committee would soon to be inaugurated by the minister. He
in the statement said Dr. Omogbai- Omo Eboh, a renowned expert in
Insurance Law would chair the committee, while Dr. Talmiz Usman (Head of
Legal Department, National Insurance Commission (NAICOM) would be the
Secretary.
Other members of the committee include a representative of the Ministry
of Finance; a representative of the National Insurance Commission; a
representative of Nigeria Insurers’ Association (NIA), and a
representative of Nigeria Council of Registered Insurance Brokers.
Also included in the Committee are the representatives of the Institute
of Loss Adjusters of Nigeria; representative of the Attorney General of
the Federation; Kamar Raji and Dr. Ladi Hamalai of the National
Institute of Legal Studies.
Source: National Mirror
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