The Corporate Affairs Commission has pledged to support the National Insurance Commission as it implements the newly signed Nigeria Insurance Industry Reform Act 2025.
The CAC made this pledge when the management of NAICOM, led by the Commissioner for Insurance, Olusegun Omosehin, paid a courtesy visit to the Registrar General of the body, Hussaini Magaji SAN, at his office in Abuja.
According to a statement from the Commission on Wednesday, the meeting centred on discussing the implementation of NIIRA 2025, with a focus on collaborative efforts to ensure a smooth transition.
During the visit, the Registrar-General assured the CFI of CAC’s support for the insurance industry reforms, pledging to collaborate with NAICOM to “issue guidelines to facilitate the recapitalisation process.” Enhance data exchange between the two agencies and provide concessions and expedited clearance where necessary.”
CFI acknowledged the CAC’s management for its ongoing support and collaboration and highlighted key provisions of NIIRA 2025, emphasising the importance of CAC’s support in meeting the 12-month timeline for recapitalisation stipulated in the Act.
This visit underscores the commitment of both agencies to work together in driving the growth and development of the insurance industry in Nigeria.