Buhari Signs Instrument To Establish African Trade Insurance Agency
President Muhammadu Buhari has signed the instrument to establish the African Insurance Agency.
According to him, the Agreement and the Agency are registered with the Secretariat of the United Nations in accordance with Charter of the United Nations, and is in cognizant of the fact that lack of adequate political, non-commercial and commercial risk insurance is a significant impediment to the availability of finance for investments in Africa and the expansion of African foreign trade and intra-Africa trade.
He explained that this was aimed at attaining sustainable growth, promoting economic activity, and creating an enabling environment for foreign trade, as well as cross-border and domestic investments. “A memorandum from the Attorney General and Minister of Justice, Abubakar Malami, stated that the request for the President’s signature on the agreement was sequel to the directive of the Federal Executive Council, that the instrument is prepared and forwarded for execution,” the statement said.
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