NAICOM is consolidating micro insurance nationwide

The National Insurance Commission (NAICOM) has indicated that the bill designed for microinsurance is about to get finalized. This decree will make it possible to introduce insurance among underprivileged populations. It will be imminently presented to the experts and stakeholders in order to collect their contributions. NAICOM estimates that the micro finance niche could post 60 billion NGN (376 million USD) in profits, just like the success reported by the banks engaged in micro insurance and which counts nearly 20 million customers.