The National Insurance Commission (NAICOM) and the Nigerian Council of Registered Insurance Brokers (NCRIB), have pledged stronger collaboration to enhance compliance, consumer protection, and broader insurance awareness across the country.
This commitment was reinforced when the Commissioner for Insurance (CFI), Mr. Ayo Omosehin, received a delegation from NCRIB, led by its President, Prince Babatunde Oguntade, alongside the incoming President and incumbent Vice President, Mrs. Ekeoma Ezeibe, at the Commission’s headquarters in Abuja.
He commissioner commended the Council for its sustained partnership with NAICOM and applauded its role in advancing industry compliance and professionalism.
He congratulated Prince Aguntade, Mrs. Ezeibe, and Mr. Tope Adaramole, appreciating their contributions towards strengthening consumer protection and broker engagement.
The CFI further congratulated NCRIB on the successful passage of the Nigerian Insurance Reform Act (NIIRA) 2025, stressing that enforcement remains the real task ahead.
According to a statement made available by the Commission on Thursday, Mr. Omosehin assured the Council that NAICOM would continue to rely on its collaboration to achieve effective implementation.
Highlighting industry priorities, he emphasized the need to expand insurance awareness, improve competence across the market, and ensure operators align with the Digitalization Regulation 2025.
Also speaking, the NCRIB boss, Prince Oguntade, explained that the visit was aimed at formally introducing the incoming President and appreciating NAICOM’s guidance during his tenure.
He noted that operators are now more willing to comply because they have been carried along in the process. On recapitalization, he added: “A stronger market is a healthier market.”
He further revealed that NCRIB is working towards building a hub to promote ethical responsibility, while thanking the Commissioner for Insurance for his pragmatic leadership.
He also disclosed that the induction of Mrs. Ezeibe as President has been scheduled for October 24, 2025, extending an official invitation to the Commissioner for Insurance.
In her remarks, Mrs. Ezeibe, the incoming President, pledged to sustain the cordial relationship between NCRIB and NAICOM, while commending the Commissioner for his support and collaboration in building the insurance industry.
In conclusion, Mr. Omosehin expressed gratitude to the outgoing President for his commendations, congratulated the incoming President, and called for deeper collaboration in building a vibrant insurance industry that stakeholders and Nigerians at large would be proud of.
