By Cynthia Alo
Following the extension of the recapitalization deadline given to insurance companies, Nigerian Insurers Association, NIA, has appealed for palliatives and incentives from National Insurance Commission, NAICOM, to cushion the cost of the exercise on operators.
Director General of NIA, Mrs. Yetunde Ilori, who made the appeal, noted that such intervention will assist operators to increase shareholders’ value.
In a statement, Ilori stated: “The market expects more cheery news from NAICOM by way of palliatives and incentives especially those that are within the Commission’s control. The cost of the exercise will be too heavy on the companies and this will assist the companies to reduce the cost of recapitalization and increase shareholder value.”
Commending the Commission on the extension of the recapitalization exercise, she said: “The association appreciates the Acting Commissioner for Insurance, Mr. Sunday Thomas and management of NAICOM for acceding to…
Source: Vanguard Newspaper
