Awaiting the conclusion of the reviewing process of the Consolidated Insurance Bill 2020 to be assented to, President Muhammadu Buhari has assured of its speedy passage into law.
Buhari, who was conferred the title of Grand Patron of the Chartered Insurance Institute of Nigeria (CIIN) by the Chairman and members of the Governing Council of the Institute, on Thursday, urged members of the institute to improve the number of Nigerians and businesses that benefited from insurance.
In a statement issued by his spokesperson, Femi Adesina, said, “Once the National Assembly has finished the process of reviewing the Consolidated Insurance Bill 2020 and is forwarded to me, I would speedily subject it to the necessary executive checks and sign it into law.
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“As you continue in your work of contributing to national development, I want to urge you to further increase the number of Nigerians and businesses that would benefit from and be benefited by the insurance industry,” he said.
“As you are well aware, you need to dispel misconceptions about the insurance industry presently held by a good number of Nigerians, especially as it relates to claims and need for insurance.
“As I have said on many occasions and would continue to reiterate, it is my commitment to leave a sustainable growth and development legacy by the end of this administration.
“Furthermore, the insurance industry as a whole must improve its efficiency and honour claims in good time.”
