The National Insurance Commission (NAICOM) has commended the Nigerian Council of Registered Insurance Brokers (NCRIB) for deepening compliance and professionalism in the nation’s insurance industry.
The Commissioner for Insurance, Mr. Olusegun Omosehin, gave the commendation in Abuja while receiving a delegation from NCRIB led by its outgoing President, Mr. Babatunde Oguntade, and the incoming President, Mrs. Ekeoma Ezeibe.
Omosehin reaffirmed NAICOM’s commitment to strengthening its partnership with NCRIB to enhance consumer protection, expand insurance awareness, and ensure effective implementation of the newly passed Nigerian Insurance Reform Act (NIIRA) 2025.
He said, “Passage of NIIRA 2025 was a milestone, but the greater challenge is effective implementation. We will continue to count on NCRIB’s support to achieve our strategic regulatory goals.”
The NAICOM boss stressed the need to deepen digital adoption, improve market competence, and expand nationwide insurance penetration through collaboration with credible stakeholders. He also congratulated Ezeibe on her new role, charging her to drive growth and trust in Nigeria’s insurance landscape.
Earlier, Oguntade said the visit was to formally introduce the incoming president and to appreciate NAICOM’s regulatory cooperation during his tenure. According to him, improved transparency and engagement have led to greater compliance among operators.
He disclosed that NCRIB is working on an ethics hub to strengthen professional responsibility in the market, while also backing recapitalisation efforts to build resilience in the sector.
In her remarks, Ezeibe pledged to consolidate the cordial relationship with NAICOM and sustain the council’s role in promoting professional standards.
NCRIB, the umbrella body for registered insurance brokers in Nigeria, is mandated to register brokers before licensing by NAICOM and uphold ethics and professionalism in the industry.
