NAICOM To Make Nigeria’s Insurance Industry Benefit From AfCFTA

The National Insurance Commission has set up a committee to enable the insurance industry take advantage of the Africa Continental Free Trade Area,

The Commissioner for Insurance, Mr. Thomas Dare made this known in Abuja.

He said that move is sequel to the need to enhance involvement of the Nigerian insurance industry in the activities of the National Action Committee on African Continental Free Trade Area.

Thomas said about 15 persons where selected to head the committee.

He said the committee is to coordinate the Nigerian insurance industry’s strategic response to AfCFTA as well as to liaise with relevant agencies of government and other bodies on the implementation of the AfCFTA agreement in the Nigerian insurance industry.

The Committee is to also coordinate and articulate the Nigerian insurance industry’s response to the AfCFTA agreement and its implementations, develop and ensure implementation of measures to ensure that the industry effectively exploits the benefits of AfCFTA, develop and ensure implementation of measures to protect the Nigerian insurance industry from being negatively impacted by AfCFTA.

Others are to engage or liaise with relevant bodies and agencies such as the National Action Committee on AfCFTA, Nigerian Office for Trade Negotiations on implementation of the AfCFTA Agreement and any such body.

He said, “It’s noteworthy to restate that your appointment into this Committee is in recognition of your vast experience, track record of selfless service and dedication to the cause of the Nigerian insurance industry.”