The National Insurance Commission (NAICOM) is concluding final capital verification for eight insurance companies, following the recent clearance of 43 firms under the Nigerian Insurance Industry Reform Act 2025. This 14-day review period is critical, as the Nigerian Council of Registered Insurance Brokers (NCRIB) has instructed its members—who control roughly 70 percent of market business—to exclusively transact with already verified insurers. While the Nigerian Insurers Association has praised the regulator’s transparent process, the firms awaiting clearance face significant pressure, as their inability to secure approval threatens their market share and premium income.