Section 34: Insurance Agents.

(1) No person shall transact business as an insurance agent unless he-
(a) possesses a certificate of proficiency issued in the name of the individual applicant by the Chartered Insurance Institute of Nigeria (referred to in this Act as the "Institute");
(b) is duly appointed by an insurer and licensed in that behalf under this Act.
(2) An application for a license as an insurance agent shall be made to the Commission in the prescribed form and be accompanied by the prescribed fee and such other documents as prescribed, from time to time.
(3) If the Commission is satisfied that the applicant has satisfied the requirements of this section or such other requirements as may be prescribed, it shall licence the applicant as an insurance agent.
(4) A licence issued under this section shall entitle the holder to act as an insurance agent for the insurers named in the licence and shall, subject to this section, be renewable every year on payment of the prescribed fee.
(5) A person who-
(a) is a minor;
(b) has not been certified as an insurance agent by the Institute;
(c) had, prior to the date of his appointment, been convicted by a court or tribunal of an offence in the nature of criminal misappropriation of funds or breach of trust or cheating, shall not be qualified for appointment as an insurance agent or be licenced under this Act.