By Nkechi Eze
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) in order to enhance compliance, broaden insurance awareness, and safeguard consumer protection across the country.
Mr. Omosehin gave the assurance when he received a delegation from NCRIB at the Commission’s headquarters in Abuja. The delegation was led by the Council’s President, Prince Babatunde Oguntade, accompanied by the incoming President and current Vice President, Mrs. Ekeoma Ezeibe, and the Council’s notable chieftain, Mr. Tope Adaramole.
Welcoming the delegation, the Commissioner commended the NCRIB for its sustained partnership with NAICOM and applauded the Council’s pivotal role in advancing professionalism and compliance within the insurance industry. He extended his congratulations to Prince Oguntade, Mrs. Ezeibe, and Mr. Adaramole for their contributions to strengthening broker engagement and consumer confidence.
Omosehin also hailed the successful passage of the Nigerian Insurance Reform Act (NIIRA) 2025, describing it as a milestone achievement for the industry. He, however, stressed that the greater challenge lies in enforcement, assuring NCRIB that NAICOM would continue to count on its collaboration in achieving effective implementation. The Commissioner further highlighted industry priorities, emphasizing the expansion of insurance awareness, capacity building, and strict alignment of operators with the Digitalization Regulation 2025 as key to a stronger sector.
In his remarks, Prince Oguntade explained that the visit was aimed at formally introducing the incoming President, appreciating NAICOM’s guidance, and cementing the Council’s relationship with the regulator. He praised the Commission’s pragmatic leadership, noting that more operators are now willing to comply because they feel carried along in regulatory processes. On recapitalization, he remarked: “A stronger market is a healthier market.” He further disclosed that NCRIB is working towards building a hub that will promote ethical responsibility among operators.
Prince Oguntade also extended a formal invitation to the Commissioner for Insurance to attend the induction of Mrs. Ezeibe as the new President of NCRIB, scheduled for October 24, 2025.
In her address, Mrs. Ezeibe pledged to sustain the cordial relationship between the Council and NAICOM, commending Omosehin’s leadership and collaboration in building a stronger and more credible insurance sector.
Concluding the engagement, the Commissioner expressed gratitude to the outgoing President for his commendations, congratulated Mrs. Ezeibe on her forthcoming induction, and called for deeper collaboration in building a vibrant insurance industry that stakeholders and Nigerians at large can take pride in.
