From left: Chairman NIA, Ganiyu Musa and Director General ,NIA, Mrs Yetunde Ilori at the media briefing held yesterday in Insurer’s House.
BY NKECHI NAECHE-ESEZOBOR–The Nigerian Insurers Association, (NIA), said is engaging representatives of Federal Ministry of Finance, Budget And National Planning, the office of the Head of Service and the Accountant General’s Office in resolving the data funding challenges.
The Chairman of the Association, Mr. Ganiyu Musa disclosed this during a media briefing to mark the end of his tenure as chairman of the Association and to list his achievements in the past two years, noted that the issue of provision of appropriate data and payment of premium on Insurance of government assets are important issues that of concern to Operators.
He noted that several meetings have been held with a view to resolving the data funding challenges.
He said “We are optimistic that all the areas of concern will be resolved as quickly as possible so that insurance companies can perform their statutory obligations in that regard.
On Consolidated Insurance Bill 2020 he said
the Association is closely monitoring developments on the Consolidated Insurance Bill 2020 and will continue to pursue same doggedly until it is finally passed into law.
According to him the Association has participated in all the processes thus far and will continue to monitor developments in respect of the bill as it receives legislative attention.
He noted that it is expected that the new law will have a positive impact on the insurance space in Nigeria and align it with global best practice.
He commended the cooperation received from the Speaker, Federal House of representatives, Rt. Hon. Femi Gbajabiamila; Chairman and member of the committee
on Insurance and Actuarial Matters, National Insurance Commission (NAICOM) and other stakeholders in the journey thus far.
On relationship with the government, he said
the Association continues to scale up its engagements with the government with a view to creating more understanding of the importance and role of insurance in the national economy.
