Nigeria, Nov. 13 -- The Senate Committee on Banking, Insurance, and Other Financial Institutions is considering the establishment of a special tribunal dedicated to resolving insurance-related disputes in Nigeria.

The committee is also proposing amendments to the Nigerian Export-Import Bank (NEXIM) Act to increase the bank's capital base from N50 billion to N1 trillion, and to establish an Export Development Trust Fund.

NEXIM Bank, a government-owned development finance institution, provides export-related services such as financing, credit guarantees, insurance, and market information to exporters. Its primary goal is to promote export diversification and economic growth, unlike commercial banks that accept deposits and focus on a wide...