NAICOM, NCRIB pledge stronger collaboration to deepen insurance awareness

The Commissioner for Insurance (CFI), Mr. Olusegun Ayo Omosehin, has reaffirmed the National Insurance Commission’s (NAICOM) commitment to strengthening collaboration with the Nigerian Council of Registered Insurance Brokers (NCRIB) to enhance compliance, consumer protection, and broader insurance awareness across the country.

Mr. Omosehin gave the assurance when he 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.

Welcoming the delegation, the 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. He assured the Council that NAICOM would continue to rely on its collaboration to achieve effective implementation.

Highlighting industry priorities, Mr. Omosehin emphasized the need to expand insurance awareness, improve competence across the market, and ensure operators align with the Digitalization Regulation 2025.

In his address, 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 can be proud of.