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It operates under the Nigeria Deposit Insurance Corporation Act (1990). [3] The NDIC is a member of the Financial Reporting Council of Nigeria. [4] The NDIC complements the regulatory and supervisory role of the Central Bank of Nigeria (CBN), although it reports to the Federal Ministry of Finance. The NDIC advises the CBN in the liquidation of ...
The Insurers Committee is a body consisting of the National Insurance Commission (NAICOM) and chief executive officers of all underwriting Insurance companies in Nigeria. [1] [2] The Committee operates under a mandate to activate the industry's change agenda, and strategically reposition the Insurance industry. [3]
National Insurance Commission (NAICOM) National Planning Commission (NPC) National Sugar Development Council (NSDC) Niger Delta Development Commission (NDDC) Nigeria Customs Service (NCS) Nigeria Deposit Insurance Corporation (NDIC) Nigeria Investment Promotion Commission (NIPC) Nigerian Export - Import Bank (NEXIM Bank)
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Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
In 2015 the limit of FDI in insurance sector has been raised to 49% subject to certain conditions. In 2006, the Actuaries Act was passed by parliament to give the profession statutory status on par with Chartered Accountants, Notaries, Cost & Works Accountants, Advocates, Architects and Company Secretaries.