The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) are advocating stronger synergies with insurance and pension editors to enhance and speed up insurance sector growth.
Speaking at the Investiture of the new executives of the Nigerian Association of Insurance and Pension Editors(NAIPE) at Insurers House, Victoria Island, Lagos, on Thursday, Commissioner for Insurance, Olusegun Omosehin, solicited collaboration all stakeholders to drive reforms that will strengthen insurance industry, enhance Nigeria’s economic resilience and expand social security. He said, sustained partnership between regulators, the media and industry players is essential to deepening insurance penetration, building public confidence, and supporting national development.
Omosehin, who was represented by the Head, Lagos Office, NAICOM, Dr. Julius Odidi urged NAIPE members to continue to demonstrate commitment to professionalism, integrity, and excellence in their reportage. Reminded them that insurance and pension sectors thrive on trust and urged them to keep expanding the knowledge of the industry by doing more of interpretative journalism for citizens to understand insurance in simple terms.
According to him, “the developmental agenda of NAICOM is anchored on reforms that strengthen regulation, deepen market penetration, and enhance consumer protection. These reforms ranging from digital transformation, risk-based supervision, financial inclusion, to pension integration require not only technical execution but also effective communication. This is where synergy with NAIPE becomes indispensable.
“Together, we can ensure that the public understands the benefits of reforms, that operators embrace compliance with enthusiasm, and that the industry’s image is projected positively. The partnership between NAICOM and NAIPE is therefore not a matter of convenience but of necessity.
“As regulators, we rely on your editorial expertise to amplify our vision. As journalists, you rely on our openness and transparency to enrich your reportage. This mutual dependence is the foundation of sustainable growth for the sector”
And as the new excos steps into roles that demand vision, courage, and dedication, he urged them to build on the solid foundation laid by its predecessors, be innovative in approach and uphold the values of professionalism and integrity that define its association.
“As you embark on this journey, may your tenure be fruitful, impactful and memorable. May you find fulfillment in service and may your leadership inspire confidence and progress. Let us continue to work hand in hand, regulators and editors alike, to build an insurance and pension industry that Nigerians can trust, rely upon, and be proud of” he added.
Giving her charge, the Chairperson, Nigerian Insurers Association (NIA), Mrs. Ebelechukwu Nwachukwu, represented by the Director General/CEO, NIA, Mrs Bola Odukale expressed optimism over new leadership of NAIPE, saying, NIA looks forward to strengthening collaboration with the Association.
“I have no doubt that under her leadership, NAIPE will attain even greater heights. Your contributions have not only enhanced the visibility and reputation of the insurance industry but have also strengthened national conversations around financial inclusion, economic resilience and sustainable development, ” she emphasised.
The DG affirmed NIA’s commitment to sustaining and deepening strategic partnership through continuous engagement, knowledge sharing and collaborative initiatives that will further promote the value of insurance to individuals, businesses and the Nigerian economy.
In her acceptance speech, Mrs. Ebere Nwoji assured stakeholders she would keep the candle burning and the light brighter for the next generation to see her regime’s footprints. She said her administration’s agenda: to ensure unity, togetherness and effective coverage of insurance and pension sectors.
She assured stakeholders of NAIPE resolve to keep telling the insurance and pension stories consistently as means of long term savings, financial security and independence.
To the insurers, she said “trust can only be won when they keep the hallowed promise of utmost good faith to the customer. This stands as an oath to the insured and contributors from the onset of insurance contract.
“For the pension sector operators, they should realise that they are yet to win the trust of the public even in the Compulsory Contributory Pension scheme. Indeed the contributors are still studying their behaviours in the area of keeping investing and seamlessly returning or paying back their hard earned funds at retirement,” she stated.
Featured Picture L-R: Dr. Julius Odidi, Head, Lagos Office, National Insurance Commission, Mrs. Ebere Nwoji, Chairperson, Nigerian Association of Insurance and Pension Editors (NAIPE); Mrs Bola Odukale, Director General, Nigerian Insurers Association, and Mr Olusesan Ogunyooye, Head of Marketing and Corporate Communications, AXA Mansard Insurance Plc, at the inauguration of the new Executives of NAIPE, in Lagos on Thursday..
