The National Insurance Commission (NAICOM) has caved in to the demands of the Nigerian Corporation of Registered Insurance Brokers (NCRIB), cancelling and withdrawing the guidelines on State Insurance Providers (SIP) policy that private operators say could push out 80 percent of its current members out of business.
The which sources in the commission has gotten the buy-in of some state governments like Lagos and Oyo who had made enquiries was cancelled and withdrawn today by the circular from the commission signed Agboola Pius, Director, Policy and Regulation.
The cancellation and withdrawal takes effect today, December 20.
Details Coming Later.
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