insurance industry strategises to advantage from afcfta

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the country wide insurance commission has inaugurated a committee to coordinate the industry’s strategic reaction to the african continental loose alternate area.

the commission might also liaise with relevant businesses of presidency and different our bodies at the implementation of the afcfta settlement within the nigerian coverage industry.

a announcement from the fee said at the same time as giving the terms of reference of the committee, the commissioner for coverage, sunday thomas, said it would, “coordinate and articulate the nigerian coverage enterprise’s reaction to the afcfta settlement and its implementation.

“the committee will even increase and make certain implementation of measures to make certain that the industry effectively exploits the benefits of afcfta.

“it’s going to expand and ensure implementation of measures to protect the nigerian coverage industry from being negatively impacted by way of afcfta.

“it’s going to engage and/or liaise with relevant our bodies and groups consisting of the country wide motion committee on afcfta, nigerian workplace for change negotiations on implementation of the afcfta agreement and one of these frame.”

thomas added that it’d “lead bilateral negotiations with any fascinated nation party concerning the nigerian coverage quarter.

“the committee will regularly discuss with relevant stakeholders to make certain that positions or perspectives canvassed are reflective of the hobby of the nigerian insurance enterprise.

“it’ll attend relevant conferences, seminars, workshops, conferences, and so on and articulate the nigerian insurance industry’s views on afcfta.

“it will publish ordinary updates/reports concerning developments on afcfta and activities of the committee to naicom.

“it will also carry out such other relevant interest(s) that the committee may additionally don’t forget beneficial to the nigerian coverage enterprise in recognize of afcfta implementation.”

he stated the commission had already knowledgeable the countrywide motion committee on afcfta of the constitution of the committee, together with its club and terms of reference.

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