Regulatory Compliance Vault

Nigerian financial sector compliance directory — Acts, Regulations, Guidelines and Circulars from PenCom, CBN, NAICOM, SEC and NDPC.

NAICOM Act 27 May 2003
Insurance Act 2003 (repealed)

Principal insurance legislation for over two decades: licensing classes, minimum capital, compulsory insurances, premium collection ('no premium, no cover') and policyholder protec…

Applies To
Historical: all insurers, reinsurers and…
Effective
27 May 2003
Compliance Deadline
NAICOM Act 01 Jan 1997
National Insurance Commission Act 1997

Establishes NAICOM as the apex regulator of the Nigerian insurance industry with powers to license, supervise and develop the market and protect policyholders.

Applies To
NAICOM and all insurance institutions.
Effective
01 Jan 1997
Compliance Deadline
CBN Act 01 Jan 1991
Banks and Other Financial Institutions Act (BOFIA) 1991

Repealed the Banking Decree 1969 and extended CBN's regulatory powers to cover new financial institutions, strengthening monetary policy, regulation and supervision. Historical pre…

Applies To
Historical: all banks and other financia…
Effective
01 Jan 1991
Compliance Deadline

This vault is a monitoring aid, not legal advice; always confirm against the regulator's official publication.