The body that regulates the activities of the insurance market in Nigeria?

A. National Insurance Commission
B. professional reinsurance Association of Nigeria
C. Nigeria insurers Association
D. Nigeria council of registered insurance brokers

Correct Answer: Option A

A. National Insurance Commission

Explanation

The National Insurance Commission (NAICOM) was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring the effective administration, supervision, regulation, and control of insurance business in Nigeria and the protection of insurance policyholders, beneficiaries and third parties to insurance contracts.