NAICOM: No Room for Ambiguity, Favouritism, Compromise in Recapitalisation Directive

Ebere Nwoji

The National Insurance Commission (NAICOM), has said that there would be no room for ambiguity, favouritism, compromise, or shortcuts in the on-going recapitalisation exercise in insurance industry.

The commission noted that Nigeria required a robust, well capitalised, and shock resistant insurance sector capable of supporting economic stability, investor confidence, and sustainable national development. 

The Commissioner for Insurance, Mr Olusegun Ayo Omosehin, stated these at NAICOM’s 2026 Management Retreat held in Uyo, Akwa Ibom State.

He said the ongoing recapitalisation exercise was one of the most consequential regulatory interventions in recent decades. 

He said the initiative transcends capital raising, adding that it was designed to strengthen the financial health of insurers by enhancing consumer protection, deepen insurance penetration, building shock resistant industry, reinforce insurance as a pillar of national development  as well as restoring and sustaining  public trust. 

He also stressed that the success of the exercise would be judged by its credibility, transparency, and professional execution,

Omosehin, underscored NAICOM’s critical role in advancing President Bola Ahmed Tinubu’s $1 trillion economic agenda and electoral oversight

as he declared the retreat a defining moment in NAICOM’s 29year institutional journey.

According to him, NAICOM  was entering a new phase of transformation anchored on integrity, professionalism, and a united leadership culture. 

According to the CFI, the theme of the retreat Insurance Regulation: Reset, Reimagine, Refocus represents a call to deliberate action—to reset outdated practices, reimagine the industry’s full potential, and refocus regulatory strategies to deliver greater national impact.

He called for unified leadership and regulatory discipline among the commission’s management, adding “Let integrity be your anchor. Let professionalism be your compass. Let transparency be your operating standard.”