Nigeria Senate don pass di 2014 Nigerian Insurance Industry Reform Bill, wey aim to create better legal and regulatory framework for di insurance sector, so e fit contribute well to Nigeria financial system.

Dem pass di bill after dem consider report wey Committee on Banking, Insurance, and other Financial Institutions present. Di Committee Chairman, Senator Abiru Adetokunbo, tok for plenary yesterday say di bill go consolidate laws like di Insurance Act 2003, Marine Insurance Act, Motor Vehicles Third Party Insurance Act, National Insurance Corporation Act, and Nigerian Reinsurance Corporation Act.

Deputy Senate President, Jibrin Barau, wey preside over di plenary, say di bill go help change di face of di insurance sector for Nigeria.

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