NIA-RACC’s 2025 retreat targets stronger governance amid insurance industry’s recapitalization
L-R: Mrs. Bernice Onyebuchi, Assistant Honorary Secretary; Mrs. Modupe Akinwande Vice Chairman RACC; Olugbenga Akinlalu, Chairman RACC, Julius Elusakin, Honourable Secretary; Mrs. Bosede Agbogun, NIA Representative; Mrs.. Modupeade Adepoju, Chairperson ERM Sub Committee; Oluwamuyiwa Aderibigbe Training and Research Sub Committee
Nike Popoola
The Risk, Audit & Compliance Committee (RACC), a strategic arm of the Nigerian Insurers Association (NIA), has announced its 2025 annual retreat, scheduled to hold from August 14 to 16 at Radisson Park Inn, Abeokuta.
This year’s retreat is themed, “Insurance industry recapitalization: Strengthening governance activities for maximum benefits.”
Speaking at a press briefing, the Chairman of RACC, Olugbenga Akinlalu, emphasized that the retreat will focus on building capacity among members, promoting regulatory collaboration, and driving innovation in governance, compliance, and risk management across the insurance industry.
“One of our key mandates is to build capacity among assurance providers. This year, we are prioritizing upskilling to ensure our members can effectively deliver on their roles in internal control, compliance, and governance oversight,” Akinlalu said.
The RACC, comprising Chief Internal Auditors, Risk Officers, and Compliance Officers from across insurance companies in Nigeria, holds monthly meetings featuring knowledge-sharing sessions on emerging issues. These sessions are instrumental in ensuring members remain current and proactive in addressing sector-wide challenges.
Olugbenga Akinlalu said the 2025 retreat promises an impressive lineup of activities, including plenary and panel sessions featuring distinguished experts from Deloitte, KPMG, PwC, key regulators, and industry leaders.
High-level dignitaries, including the Director-General and Chairperson of the Nigerian Insurers Association (NIA), will also grace the occasion.
In addition, he added, RACC will be launching the second edition of its industry-focused magazine, covering critical themes such as Artificial Intelligence, internal controls, financial reporting, and sustainability, key issues shaping the future of insurance.
Participants from insurance firms nationwide including delegates from Abuja and beyond are expected to attend, making it an inclusive and transformative event for the industry.
