The Organised Private Sector OPS represented by Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture NACCIMA, has welcomed the introduction of a N20 billion collective insurance bond backed by a consortium of insurers to replace the long-standing container deposit system in Nigerias maritime trade.
The new scheme, designed to protect international traders and freight-forwarders, marks a major shift toward an insurance-driven framework for container and cargo risk management, with agreed standard premiums now set for container indemnity, cargo-in-transit, and public liability coverage.