Posted By: | May 10, 2021 |

OVERVIEWS: NAICOM’S CORPORATE GOVERNANCE GUIDELINES FOR INSURANCE AND REINSURANCE COMPANIES 2021 (CGGIRC)

The National Insurance Commission (NAICOM) issued the CGGIRC 2021 on 17th March 2021, with an effective date of 1st June 2021. The CGGIRC 2021 replaced the Code of Good Corporate Governance for the Insurance Industry in Nigeria 2009 (CGCGII) vide Guideline 1.0(v) CGGIRC 2021. Prior to the issuance of CGGIRC 2021, the Financial Reporting Council of Nigeria (FRCN) pursuant to sections 11(c) and 51(c) FRCN Act 2011 essentially harmonised all sectoral codes into the Nigerian Code of Corporate Governance 2018 (NCCG).

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