Insurers to get succour as NAICOM, NSE, others harmonise accounts reporting procedure

From left: George Oneknena, Deputy Commissioner (Finance & Administration), National Insurance Commission (NAICOM); Oscar N. Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Mohammed Kari , Commissioner for Insurance/Chief Executive, NAICOM; Eddie Efekoha, Chairman of Nigeria Insuers Association ( NIA) and Managing Director Consolidated Hallmark Insurance Plc; Barineka Thompson, Director, Inspectorate, NAICOM and Tony Ibeziako, Head, Domestic Primary Market, NSE at the Closing Gong Ceremony at the Exchange.

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Chuks Udo Okonta

Insurance operators would soon be relieved from sanctions from submissions of accounts as the National Insurance Commission (NAICOM), Nigerian Stock Exchange (NSE) and other regulators are working to harmonise account submission procedures.

Inspen gathered that the planned procedure would act as one-stop-shop for submission of accounts, making it possible for regulators to stay on action once their colleague gets the account of a company.

According to the Deputy Commissioner (Finance & Administration), NAICOM, George Oneknena, the regulators are assiduously working to see that regulators share information on accounts submitted by companies.

Chief Executive Officer, Nigerian Stock Exchange (NSE), Oscar Onyema, said the Exchange and other regulators will continue to harmonise financial reporting systems, adding that financial reporting is highly essential to investors as it aids their investments decisions.

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