NAICOM's Omosehin Recognized for Driving Insurance Reforms

The Centre for Credible Reforms and Institutional Accountability (CCRIA) praised Mr Olusegun Ayo Omosehin, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), for his efforts in enhancing transparency and accountability in Nigeria's insurance sector reforms. The commendation follows the implementation of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which aims to modernize the insurance industry with stronger regulatory standards and improved capitalisation.

Dr Aminu Abubakar Aminu, president of CCRIA, acknowledged the contributions of President Bola Tinubu and the National Assembly in enacting NIIRA, describing it as a significant milestone for the sector. The ongoing recapitalisation exercise is noted as a crucial step to bolster the financial capacity of insurance companies.

Aminu emphasized that the reforms are already yielding positive results and urged NAICOM to maintain focus on consistent implementation for further improvements in the industry.