Despite UNICEF’s endorsement, Nigeria’s only open defecation-free state struggles with human faecesBeneath the Surface: The Dark World of Illicit Tin Mining in PlateauNigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsA new dawn in Nigeria-South Africa relations?, By Jideofor AdibeNigeria’s capital city remains under threat of bandits, as the yuletide approaches, By Uche IgweINVESTIGATION: Toxic Tactics: US govt funds pesticide/GM propaganda...
It was sponsored by Adetokunbo Abiru , the chairman of the Senate Committee on Banking, Insurance and other Financial Institutions. “They do not resonate with the current dynamics and evolving needs of Nigeria’s insurance industry. All these legislations have surpassed the three-decade mark and the lack of issues that can adequately address contemporary challenges and support growth and innovation in this leading industry.
“Another objective is that it will ensure that the insurance sector contributes positively to the principal objectives of the financial system in order to make Nigeria Africa’s financial hub and one of the 20 largest economies in the world,” the senator said.Ondo South Senator Jimoh Ibrahim expressed concerns that the increment of insurance capital will lead to the extinction of insurance companies in the country.
With the passage, the bill will now be transmitted to the House of Representatives for concurrence. If the lower House concurs with the provisions, it will then be transmitted to the country’s president for assent. If not, both chambers will set up a committee to harmonise their positions before transmitting it to the president.