Nigeria 's National Insurance Authority ( plc ) has secured approval for the first two full - fledged takaful companies to sell Islamic insurance in the country and is considering a number of other applications . The new takaful companies are mostly foreign - owned , with investors from the united East and Asia who have the interest in Islamic insurance .
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.