The Management of the Corporate Affairs Commission (CAC) has promised to support
the National Insurance Commission (NAICOM) to make the ongoing recapitalisation exercise in the insurance industry a success.
The Registrar General of the CAC, Barr. Hussaini Magaji gave this assurance when the management of NAICOM paid a courtesy visit to the Commission on Wednesday in Abuja.
The meeting centered on the implementation of the Nigeria Insurance Industry Reform Act (NIIRA) 2025, with a focus on collaborative efforts to ensure a smooth transition.
The Commissioner for Insurance, Mr. Olusegun Omosehin expressed gratitude to the Registrar General for the warm reception and acknowledged the CAC’s management for their ongoing support and collaboration.
He 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.
Responding, the Registrar General thanked the NAICOM boss and reaffirmed his commitment to supporting President Bola Tinubu’s vision for a robust economy.
He noted the long-standing partnership between CAC and NAICOM in promoting the growth of the Nigerian economy.
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, as well as provide concessions and expedited clearance where necessary.
The visit underscores the commitment of both agencies to work together in driving the growth and development of the insurance industry in Nigeria.
More Stories
Leadway Advocates For Next Generation Of Female Tech Talents
Kenyan Pension Regulator Visits PenCom To Understudy Nigeria’s Pension Reforms
AIICO Bags Insurance Company Of The Year Award