NAICOM, RMAFC Collaborate To Grow Nigeria’s Economy

By Linda Ike

The Commissioner for Insurance, Mr. Olusegun Omosehin has helped on exploration of collaborative opportunities with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to advance the diversification of the nation’s economy.

Mr. Omosehin disclosed this in Abuja when his management team welcomed the members of the Constitutional Committee on “Mobilisation and Diversification” of the Revenue Mobilisation Allocation and Fiscal Commission, led by Engr. Sani Mohammed Baba

He reiterated the Commission’s commitment to ensuring insurance companies meet their obligations, thereby contributing to the sustainability of the economy.

Omosehin further reaffirmed the critical role of the insurance sector regulator in supervising, regulating, and safeguarding the interests of insurance policyholders.

He hinted to the team the insurance’s pivotal role in mobilizing savings for long-term developmental projects and enabling businesses to thrive while managing risks effectively

He called for the need for continuous advocacy and sensitization of government institutions about the vital role of insurance in national economic development.

Mr. Omosehin also disclosed the ongoing efforts of the Commission to embed insurance within the National Credit Scheme to ensure its sustainability.

The leader of the RMAFC team, Engr. Sani Mohammed Baba stressed the importance of revenue generation, institutional expansion, and employment creation for Nigerians through collaborative efforts.