The National Insurance Commission (NAICOM) has directed newly licensed insurance companies to use their recapitalisation funds prudently and enhance policyholder protection as they commence operations under the Nigerian Insurance Industry Reform Agenda (NIIRA 2025). The Commissioner for Insurance, Olusegun Ayo Omosehin, issued this directive after granting new licences to additional insurance companies. The move is part of ongoing reforms aimed at strengthening the insurance sector in Nigeria.
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