Nigeria: President Tinubu appoints new board to oversee National Insurance Commission

Nigeria’s insurance sector is poised for significant leadership changes as President Bola Tinubu announces the appointment of a new board for the National Insurance Commission (NAICOM).

President Bola Tinubu has taken decisive action by appointing a group of seasoned professionals to oversee the National Insurance Commission (NAICOM), signaling a renewed focus on the stability and integrity of Nigeria’s insurance industry.

The appointments, made with a commitment to enhancing regulatory oversight and ensuring public confidence, bring together a diverse group of experts poised to steer the sector into a new era of transparency and efficiency.

The newly appointed chairperson of NAICOM’s board is Ms. Halima Kyari, whose wealth of experience in financial services is expected to provide strategic leadership.

Joining her is Mr. Olusegun Ayo Omosehin, appointed as Commissioner for Insurance, tasked with driving policy initiatives and regulatory reforms.

Mr. Olawoye Gam-Ikon and Dr. Usman Ankara Jimada will serve as Deputy Commissioners, overseeing technical operations and finance & administration, respectively.

Dr. Miriam Kene Kachikwu, Mr. Adeniyi Olusegun Fabikun, and Mr. Umar Khalifa Mohammed complete the board as members, bringing additional expertise and perspective to the commission’s governance structure.

In a statement from Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity, President Tinubu emphasized the importance of upholding probity and ensuring a safe, sound, and stable insurance sector. The new board is expected to prioritize policyholder protection, public interest, and overall market confidence, fostering an environment conducive to growth and development within the insurance industry.

The appointment of this new board underscores President Tinubu’s commitment to effective governance and regulatory oversight, aligning with broader efforts to strengthen Nigeria’s financial services sector. With diverse expertise and a clear mandate, the board is poised to address challenges and capitalize on opportunities to elevate the standards of insurance regulation in the country.

This development comes at a critical juncture for Nigeria’s insurance sector, offering renewed hope for stakeholders and policyholders alike.

The stage is set for transformative leadership under Ms. Halima Kyari and her team, as they embark on a mission to enhance the resilience and credibility of the National Insurance Commission.