Barbara Bako, Abuja. The National Insurance Commission (NAICOM) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) sets to explore collaborative opportunities to advance the diversification of the Nigerian economy. According to a statement signed by the commission on Thursday, the Commissioner for Insurance/CEO, Mr. Olusegun Ayo Omosehin, and his management team welcomed the members…
President Bola Tinubu has approved the appointment of board members for the National Insurance Commission (NAICOM) and Security and Exchange Commission (SEC). A statement from the Presidency on Friday said members of NAICOM board include: (1) Ms. Halima Kyari — Chairperson (2) Mr. Olusegun Ayo Omosehin — Commissioner for Insurance (3) Mr. Olawoye Gam-Ikon —…
NAICOM mourns death of pioneer CEO, Eugene Okwor By Barbara Bako, Abuja The National Insurance Commission, NAICOM, has mourned passing of its pioneer Commissioner for Insurance/CEO, Eugene Okwor, describing him as an example of highest standards of integrity, innovation, and compassion. Okwor, who served as the Commissioner from 1992 to 1996, died on January 14,…
Elumelu advocates tightened noose, N50bn cap for insurance firms Barbara Bako, Abuja The Chairman, United Bank for Africa and Heirs Holdings, Tony Elumelu, said the current economic realities of rising inflation and and dwindling vue of Naira at the foreign exchange market call for recapitalisation of insurance companies in Nigeria. Elumelu, who is also the…
The Federal High Court in Lagos has granted some reliefs sought by Standard Alliance Investments Limited and its shareholders Standard Alliance Insurance Plc, against the National Insurance Commission over the notice of cancellation of registration of Standard Alliance plc. Other Plaintiffs in the suit NO. FHC/L/CS/1585/2022 were Dickson Odoko and elder Donatus Uba who sued…
Talks began between the National Information Technology Development Agency, NITDA, and the National Insurance Commission, NAICOM, on creating an insurance product to cover the rising cyber risks in Nigeria. Underscoring the move as long overdue, the Director-General of NITDA, Kashifu Inuwa Abdullahi, noted that, ”Nigeria loses about N200 billion to cyber crime annually”. Abdullahi, who…
