The Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has called for renewed commitment to professionalism, ethics, and innovation in Nigeria’s insurance sector, emphasizing the need to build public trust and deepen inclusion across the nation.
He made this call during the investiture of Mrs. Ekeoma Esther Ezeibe as the 23rd President of the Nigerian Council of Registered Insurance Brokers (NCRIB) at the Landmark Centre, Victoria Island, Lagos.
In his address, Mr. Omosehin commended the outgoing President, Prince Babatunde Oguntade, for his “courageous and visionary leadership,” noting that his tenure upheld the highest standards of integrity and professionalism in the broking community.
He further applauded brokers nationwide for their dedication to excellence and client-focused service, describing their work as “the foundation of our industry’s success.”
The Commissioner hailed Mrs. Ezeibe’s investiture as both historic and symbolic, pointing out that she is only the third woman to hold the presidency in NCRIB’s 63-year history.
He lauded her record of strategic leadership, particularly as Chairperson of the Nigerian Insurance Industry Committee on AfCFTA (NII-AfCFTA), where she championed policy advocacy and capacity building to position the Nigerian insurance market for opportunities under the African Continental Free Trade Area.
“Her emergence reflects progress and inclusion in an evolving industry,” Omosehin stated.
On the future of the insurance sector, Mr. Omosehin outlined key leadership imperatives including education, ethics, and public confidence, as the pillars for industry advancement.
He stressed that perception and performance are inseparable in insurance, urging brokers to maintain transparency, deliver value-driven advisory services, and embrace technology to enhance efficiency and expand access, particularly through microinsurance for underserved communities.
Highlighting NAICOM’s regulatory priorities, the Commissioner reaffirmed the Commission’s focus on risk-based supervision, fair market conduct, data-driven oversight, and digital transformation.
He emphasized collaboration with NCRIB in implementing the new Nigeria Insurance Industry Reform Agenda (NIIRA 2025), calling on brokers to align innovation with accountability. “Deliver only what you can support, and support everything you deliver,” he said, underscoring that trust is essential to insurance penetration.
Mr. Omosehin changed Mrs. Ezeibe to lead with professionalism, inclusion, innovation, and trust, even as he expressed confidence that her presidency would bring “bold decisions, ethical leadership, and transformative impact” to the industry.
“Together, let us build an insurance market that serves Nigerians better and strengthens our economy,” Omosehin urged and concluded by extending his congratulations to the new NCRIB President and reaffirming NAICOM’s commitment to partnership for national growth.
