NAICOM pledges support for Nigerian factoring working group

August 31, 2024 By Joshua Nse 0 Comments

The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM) Olusegun Ayo Omosehin, has hosted a delegation from the Nigerian Factoring Working Group.

L-R: Commissioner for Insurance/Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, and the leader of Nigerian Factoring Working Group, Mr. Hope Yogo, during the Courtesy visit by the Nigerian Factoring Working Group to NAICOM CEO in Abuja on Wednesday, August 28, 2024.

iThe delegation made up of members from NEXIM Bank, CBN, GIZ and AfreximBank was led by Mr. Hope Yogo.

The leader of the delegation Mr. Hope Yogo, in his remarks congratulated the new CFI on his appointment and expressed confidence that the new leadership will effectively deliver on their mandate.

He stated that the working group, which is expected to transform into an association very soon, was formed to develop a conducive legal and regulatory infrastructure for factoring in the country.

Besides, he stated that the main reason for their visit was to seek collaboration and partnership with the Commission and the insurance companies on their desire to engage all stakeholders in the value-chain and considering the vital role of insurance in factoring.

The CFI in his response, pledged full support of the Commission for the development of Factoring in Nigeria.