There are strong indications that the insurance industry bill would, in a couple of weeks, get to the National Assembly for proper deliberations. This would happen after the presidency’s approval to be passed to the house for deliberations.
Mr. Fola Daniel, commissioner for Insurance, said the bill is expected to receive urgent attention when it gets to the national assembly, adding that the relevant committee, which has oversights functions on insurance, has promised to do what is needful to avoid unnecessary delay in the passage.
Daniel stated that the national assembly is willing to support insurance growth and development, and that the legislators are willing and waiting to support the growth of insurance industry.
The proposed bill, he stated, is done in a way to support the government’s quest to reduce poverty in the economy.
On when the law will be out, “we do not have control over when legislation is passed. I can say that very soon, the executive should be in a position to send the bill to the national assembly.”
Daniel pointed out that one of the tools to ensure rapid development of insurance is the review of the law, stating that the relevant committees have assured that as soon as they see the bill, they would do what is needful to avoid unnecessary delay. The executive is eager to ensure that insurance occupies its rightful place, and the legislators are very willing and waiting to support the growth of insurance in our environment, he said.
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