The National Insurance Commission NAICOM has issued a circular outlining additional regulatory requirements for life insurance companies carrying on annuity business in Nigeria. The circular, dated January 24, 2025, seeks to enshrine best practice in the management of annuity portfolios by insurance institutions in
The National Insurance Commission (NAICOM) and the Nigeria Police Force (NPF) have embarked on a collaborative move to strengthen insurance compliance in the country following the announcement by the Inspector General of Police on the enforcement motor vehicle insurance effective
Pursuant to its position on insurance compliance in the country, the National Insurance Commission (NAICOM) has initiated a working relationship with the Nigerian Civil Aviation Authority (NCAA) to enhance the delivery of insurance related results in the aviation sector, marking
Inspector General of Police (IGP) Mr. Kayode Adeolu Egbetokun has announced that full enforcement of third-party motor insurance will commence on February 1, 2025. The announcement was made in his office when he received the Commissioner for Insurance (CfI) and
The National Insurance Commission (NAICOM) and the Federal Fire Service this Thursday met at the NAICOM Headquarters to review and strengthen their partnership. NAICOM in a statement pointed out that the Federal Fire Service, as a key member of the
The National Insurance Commission (NAICOM) says it has warmly welcomed the passage of the new Insurance Consolidated Bill by the Upper Chamber of the National Assembly and is optimistic that the legislation will unlock the growth, prosperity, and potentials of
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have agreed to partner to implement insurance provisions for assets under public-private partnership arrangements, as outlined in the law. This was discussed during a courtesy visit of the
The National Insurance Commission (NAICOM) this Friday, November 29, 2024, presented an operational license to the Nigerian Police Force NPF Insurance Co. Ltd. Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, formally handed over the license to Mr. Temitayo Oke, Managing
Leah Katung-Babatunde. The National Insurance Commission and the Nigerian Data Protection Commission are partnering to enhance data protection within the insurance sector. To this end, both organisations signed a Memorandum of Understanding (MoU) Tuesday, November 22nd, 2024 aimed
The National Insurance Commission (NAICOM) and the Economic and Financial Crimes Commission (EFCC) have agreed to strengthening partnership in what they describe as a crucial step towards creating a more secure and stable insurance sector in Nigeria. This agreement was
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