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) to enhance compliance, consumer protection, and broader insurance awareness across the country.
Mr. Omosehin gave the assurance when he received a delegation from NCRIB, led by its President, Prince Babatunde Oguntade, alongside the incoming President and incumbent Vice President, Mrs. Ekeoma Ezeibe, at the Commission’s headquarters in Abuja.
Welcoming the delegation, the Commissioner commended the Council for its sustained partnership with NAICOM and applauded its role in advancing industry compliance and professionalism. He congratulated Prince Aguntade, Mrs. Ezeibe, and Mr. Tope Adaramole, appreciating their contributions towards strengthening consumer protection and broker engagement.
The CFI while endorsing NCRIB contribution to the Nigerian Insurance Reform Act (NIIRA) 2025, reiterated that enforcement remains the real task ahead. He assured the Council that NAICOM would continue to rely on its collaboration to achieve effective implementation. He also emphasised the need to expand insurance awareness, improve competence in the market, and ensure operators align with the Digitization Regulation 2025.
In his address, Prince Oguntade explained that the visit was aimed at formally introducing the incoming President and appreciating NAICOM’s support for his tenure. He noted that operators are now more willing to comply because they are being carried along in the process. On recapitalisation, he said, “A stronger market is a healthier market.” On the brokers side he said that NCRIB is working towards building a hub to promote ethical responsibility, and thanked the Commissioner for Insurance for his pragmatic leadership.
He also disclosed that the induction of Mrs. Ezeibe as President has been scheduled for October 24, 2025, and extended an official invite to him. In her remarks, she pledged to sustain the cordial relationship between NCRIB and NAICOM, while commending the Commissioner for his support and collaboration in building the insurance industry.
Mr. Omosehin expressed gratitude to the outgoing President for his commendations, congratulated the incoming President, and called for deeper collaboration in building a vibrant insurance industry that stakeholders and Nigerians at large can be proud of.
