First two Islamic insurers approved in Nigeria
Nigeria's National Insurance Commission (NAICOM) has granted approval for the first two full-fledged takaful insurers to sell Islamic insurance in the country and is reviewing a number of other applications. The new takaful companies are mostly foreign-owned, with investors from the Middle East and Asia who have the experience in Islamic insurance.

Several Islamic insurance companies will commence operations in Nigeria in the next couple of months, and will be the first set of fully-fledged takaful Insurance companies in the country.