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Answered 2014-02-10 22:50:45

the need for developing insurance business in Nigeria

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2011- Nigeria is developing and has not yet developed.

The role of insurance companies in Nigeria can never be over emphasized, it is the pillar of every successful business. The insurance companies have given Nigerians the faith to invest in business without fear of losing out. Most financial institution may not want to loan to individuals without them endorsing an insurance policy. The advent of insurance companies in Nigeria has greatly improved the development of the country in the area of finance, individual business and public welfare.

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Nigeria Deposit Insurance Corporation was created in 1988.

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