The National Insurance Commission (NAICOM) has reaffirmed its dedication to aligning the insurance sector with President Bola Tinubu’s economic reforms, with a specific focus on contributing to the goal of growing Nigeria’s economy to one trillion dollars by 2030. This commitment was emphasized by Olusegun Omosehin, Commissioner for Insurance and CEO of NAICOM, during the investiture of Yetunde Ilori as the 52nd president of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos.
Omosehin highlighted the importance of a collective commitment to fostering a robust, resilient, and stable insurance industry that can significantly contribute to Nigeria’s economic stability and growth. He stressed that current global and national developments necessitate a collaborative effort to reposition the insurance profession and rebrand the industry to enhance public perception and understanding.
In his address, Omosehin congratulated Ilori on her new role as the CIIN president, noting that strong leadership in the insurance sector is crucial amid significant economic challenges and opportunities. He lauded Ilori’s previous accomplishments as the immediate past Director General of the Nigerian Insurers Association (NIA), where her leadership and vision significantly advanced the association and the broader industry.
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“Ilori’s leadership will be pivotal in driving the desired transformation in the industry, ensuring the CIIN remains a beacon of excellence and a catalyst for positive change,” said Omosehin. He also acknowledged the outgoing President and Chairman of the CIIN Council, Edwin Igbiti, and the council members for their commitment to promoting insurance education and professionalism.
Omosehin expressed confidence that under Ilori’s leadership, the CIIN would continue to promote professionalism, uphold ethical standards, and foster educational development within the insurance industry. He reiterated NAICOM’s continuous support for the institute in achieving these goals and emphasized the commission’s intent to explore further mechanisms to enhance the existing relationship with CIIN, improve public perception, and bolster transparency within the industry.
“NAICOM looks forward to working closely with the institute to ensure significant achievements during Ilori’s tenure and to leave a lasting positive impact on the institute and the industry at large,” Omosehin concluded.
The investiture ceremony marks a significant step in the ongoing efforts to strengthen the insurance sector’s role in Nigeria’s economic growth, with Ilori’s leadership set to play a critical role in driving these initiatives forward.
