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Tinubu explains sacks NAICOM board, appointment of  Omosehin as new Commissioner for Insurance.

President Bola Tinubu at the weekend explained reasons for the sack of the board of National Insurance Commission (NAICOM) saying that the move is intended to usher in the highest standards of probity and professionalism in discharging in the conduct of insurance business in the country. He said that the new board has the mandate to ensure a safe, sound, and stable insurance sector. The reshuffling of NAICOM board saw a sweeping change at the leadership of National Insurance Commission’s management in a manner that the Commissioner for Insurance Mr Sunday Thomas was removed. Also sacked are the entire executive management of the commission.

 President Tinubu subsequently appointed the current Chairman of the Nigerian Insurers Association Mr Olusegun Ayo Omosehin as the new commissioner for insurance.

The removal of Mr Thomas came barely one week after the death of his wife which occurred on April 12.

The president also appointed a cadre of distinguished professionals to lead the board of the regulatory body. The newly appointed board members comprise of accomplished individuals across various fields who have been tasked with upholding the integrity and stability of Nigeria’s insurance sector.

Leading the board as Chairperson is Ms. Halima Kyari, a seasoned professional renowned for her strategic acumen and leadership prowess. Her appointment underscores the commitment to instilling a culture of excellence and accountability within NAICOM.

Mr. Olusegun Ayo Omosehin assumes the pivotal role of Commissioner for Insurance, bringing with him a wealth of experience and expertise in insurance regulation. His mandate includes steering the commission towards effective supervision and enforcement of regulatory standards.

Joining the leadership team are Mr. Olawoye Gam-Ikon and Dr. Usman Ankara Jimada, appointed as Deputy Commissioners for Technical Operations and Finance & Administration, respectively. Their complementary skill sets and dedication to service are instrumental in bolstering NAICOM’s operational capacity and financial management.

Dr. Miriam Kene Kachikwu, Mr. Adeniyi Olusegun Fabikun and Mr. Umar Khalifa Mohammed round out the board as members.

A statement signed by Chief Ajuri Ngelale, serving as Special Adviser to the President for Media & Publicity, reiterated the administration’s unwavering commitment to fostering a regulatory environment that fosters innovation, promotes competitiveness, and safeguards the welfare of all stakeholders in the insurance ecosystem.

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