Entry into force of a new law regulating brokerage activities

A new law regulating brokerage activities has been in force. This law reinforces the supervisory powers of the Nigerian Corporation of Registered Insurance Brokers (NCRIB). It will make it possible to respond to the protests and complaints filed against numerous brokers.
According to Mr. Prince Soyewo, Chairman of NCRIB, this decree would trigger the removal of at least 50% of insurance brokers whose number is estimated to exceed 400.