The Corporate Affairs Commission (CAC), has given its full support to the 12 month recapitalisation schedule by National Insurance Commission NAICOM, this emerged at the meeting held at the CAC head office with a focus on collaborative efforts to ensure a smooth transition.
The Commissioner for Insurance (CFI) Segun Omosehin, acknowledged the warm reception and the ongoing support and collaboration, noting that the Nigerian insurance Industry Reform Act (NIIRA) 2025 emphasised the importance of CAC’s support in meeting the 12-month timeline for recapitalization.
In response, the Registrar General Barr. Hussaini Magaji SAN, thanked the CFI and reaffirmed his commitment to supporting President Bola Tinubu’s vision for a robust economy promising that the long-standing partnership between CAC and NAICOM remains intact for promoting the growth of the Nigerian economy.
The Registrar General assured the CFI of CAC’s support for the insurance industry reforms, pledging to collaborate with NAICOM to issue guidelines to facilitate the recapitalization process, enhance data exchange between the two agencies and, provide concessions and expedited clearance where necessary.
