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FSD Africa will conduct technical assistance to enhance NAICOM’s ability to fulfil its development, regulation and supervision mandate to support market development, market stability promoting innovation, and protection of policyholders. We will support market development for innovation and strengthen regulatory and supervisory frameworks in line with international standards by developing a risk-based capital framework. The technical assistance will focus on the following:
Implementing Partner
Morrissey Consultants, LLC
Donor(s)
FCDO
Value (in £)
122,300
Implementation Period
2021 - 2022
Countries Covered
Nigeria
Project Description
FSD Africa will conduct technical assistance to enhance NAICOM’s ability to fulfil its development, regulation and supervision mandate to support market development, market stability promoting innovation, and protection of policyholders. We will support market development for innovation and strengthen regulatory and supervisory frameworks in line with international standards by developing a risk-based capital framework. The technical assistance will focus on the following:
Target results
Progress
We have delivered a diagnostic report, and a legal framework report focused on supporting market development, market stability promoting innovation, and protection of policyholders. We have reviewed the regulatory sandbox regulations and web accelerator regulations. We are currently working on developing a Risk-Based Capital framework and updating regulatory data requirements and tools. The project has been transferring knowledge and capacity building, through RBC working sessions with NAICOM.
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