The National Insurance Commission (NAICOM) has intensified efforts to ensure the full implementation of the Nigerian Insurance Industry Reform Act (NIIRA 2025), with a focus on strengthening enforcement and protecting consumers from fraudulent operators.
As part of this initiative, NAICOM is collaborating with the Nigeria Police Force and engaging key industry stakeholders, including the Association of Registered Insurance Agents of Nigeria, to improve compliance and market discipline.
The Commissioner for Insurance, Olusegun Ayo Omosehin, recently met with the Inspector General of Police, Olatunji Disu, to discuss collaborative strategies for enforcing the provisions of NIIRA 2025.
During the meeting, Omosehin emphasized that the reform act was introduced to modernize Nigeria’s insurance sector, enhance transparency, and safeguard policyholders. He noted that achieving full compliance would require strong support from law enforcement agencies.
In response, Disu reaffirmed the commitment of the Nigeria Police Force to support NAICOM’s enforcement efforts, stating that the police would provide both operational and legal backing to ensure that violators are prosecuted and consumers adequately protected.
In a related development, NAICOM and ARIAN have agreed to deepen their collaboration to strengthen enforcement mechanisms and address the activities of unauthorized and predatory insurance operators.
The commission reiterated that its ongoing partnerships are aimed at ensuring effective implementation of NIIRA 2025 while promoting trust, accountability, and consumer protection within Nigeria’s insurance industry.
