NAICOM's Omosehin Lauded for Insurance Reforms in Nigeria

The Centre for Credible Reforms and Institutional Accountability (CCRIA) praised Olusegun Ayo Omosehin, Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), for his role in advancing transparency and accountability through the Nigerian Insurance Industry Reform Act (NIIRA) 2025. Dr Aminu Abubakar Aminu, president of CCRIA, acknowledged the enactment of NIIRA as a significant milestone for Nigeria's insurance sector, enhancing regulatory standards and policyholder protection.

He commended President Bola Tinubu and the National Assembly for modernizing the legal framework governing the industry. Aminu highlighted Omosehin's extensive experience as crucial for implementing the reforms effectively.

The ongoing recapitalization exercise is aimed at strengthening the financial capacity of insurance companies. Aminu noted that early developments under NIIRA indicate that the reforms are producing measurable improvements, emphasizing the importance of sustained implementation and guidance from NAICOM to create a trustworthy insurance market.