NAICOM Vows Corruption-Free Insurance Recapitalisation Overhaul

By Linda Ike

The National Insurance Commission (NAICOM) has pledged transparency and zero compromise in insurance recapitalisation as it kicked off its 2026 Management Retreat, themed “Insurance Regulation: Reset, Reimagine, Refocus.”

Commissioner for Insurance, Olusegun Ayo Omosehin hailed it as a pivotal shift after 29 years, anchoring reforms in integrity, professionalism, and unified leadership to supercharge Nigeria’s insurance sector.

Omosehin stressed NAICOM’s role in President Bola Tinubu’s $1 trillion economic push, demanding a robust, shock-resistant industry for stability and growth.

The retreat calls for resetting outdated practices, reimagining potential, and refocusing strategies.

Omosehin reaffirmed the ongoing recapitalisation as a game-changer to, bolster insurers’ financial health, protect consumers boost, Penetration build, Resilience cement insurance’s national role, Restore public trust.

He vowed no favoritism, shortcuts, or ambiguity success hinges on credibility alone.

He urged staff: “Let integrity be your anchor, professionalism your compass, transparency your standard.”

Management pledged unity, ditching silos for teamwork and global best practices.

Key focuses include:Tighter Oversight capitalisation, Execution stakeholder ties, Risk-based supervision and data Analytics, tech Innovation, accountability culture, policy holder Safeguard.

Quoting an African proverb, “When spider webs unite, they can tie up a lion,” Omosehin rallied for collective strength, positioning NAICOM to deliver a resilient, world-class industry aligned with Nigeria’s ambitions