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In a release to the @ngxgrp , Ellah Lakes Plc disclosed they have an agreement to acquire 100% shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, a Singapore-based entity equally owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd.
The new bill is is a Comprehensive Consolidation of Outdated Laws repealing several obsolete insurance laws such as the Insurance Act 2003, Marine Insurance Act, Motor Vehicles (Third Party Insurance) Act, National Insurance Corporation Act, and Nigeria Reinsurance Corporation Act, replacing them with a unified, modern legal and regulatory framework.