Dr. Dennis Nnorom Discusses NFIU's Role in Combating Insurance Fraud in Nigeria

Dr. Dennis Nnorom, Managing Director and Chief Executive Officer of Pinnacle Insurance Broker Limited, highlights the significant impact of the Nigerian Financial Intelligence Unit (NFIU) in curbing fraudulent foreign activities within the insurance industry.

He emphasizes the importance of risk management and insurance services in protecting assets and ensuring business continuity. Dr.

Nnorom mentions the licensing requirements by the Nigerian Insurance Commission (NAICOM) and the Nigerian Council of Registered Insurance Brokers (NCRIB) under the Nigerian Insurance Industry Reform Act 2025. He stresses the need for professionals in the insurance sector to have in-depth knowledge and access to insurance to effectively manage risks.

Dr. Nnorom also discusses the role of institutions like the Insurance Institute of Nigeria (IIN) and the Chartered Insurance Institute of Nigeria (CIIN) in training insurance professionals.

The interview underscores the challenges and opportunities for the insurance industry in Nigeria, emphasizing the importance of public enlightenment and professional development.