NAICOM, SEC Collaborates for Seamless Insurance Industry Recapitalisation
The National Insurance Commission (NAICOM), and the Securities and Exchange Commission (SEC) have agreed to collaborate to ensure a seamless insurance industry recapitalisation process.
Speaking during a visit to the Director-General of SEC in Abuja on Tuesday, Mr Olusegun Omosehin, the Commissioner for Insurance, said the ongoing recapitalisation of the industry was aimed at transforming and strengthening the institutions.
Omosehin said the visit was a step toward strengthening collaboration between both agencies. He said the recapitalisation was focused on repositioning the sector for growth and ensuring better service delivery.
Dr Emomotimi Agama, the director-general of SEC, pledged the Commission’s support toward providing the necessary expertise and guidance to deepen the insurance industry’s growth.
”The Commission ‘s operations are now fully digitised, so I encourage insurance operators to embrace digitisation to enhance efficiency and accelerate transformation within the sector.
”I urge you to regard the SEC as a strategic partner and we will always be willing to provide assistance during the recapitalisation process and beyond,” he said.
Agama said the signing of the Nigerian Insurance Industry Reform Act (NIIRA, 2025) into law by President Bola Tinubu marked a new dawn for the industry. He expressed optimism that the Act would drive meaningful reforms in the financial services sector. $NAICOM, SEC Collaborates for Seamless Insurance Industry Recapitalisation#
