The Risk, Audit & Compliance Committee (RACC) of the Nigerian Insurers Association has announced that upskilling of members will be a central focus of its 2025 annual retreat, scheduled for next month.
Themed “Insurance Industry Recapitalization: Strengthening Governance Activities for Maximum Benefits,” the retreat aims to enhance the technical capacity of internal auditors, risk officers, and compliance professionals across Nigeria’s insurance sector.
RACC, which brings together key governance professionals from insurance firms nationwide, meets monthly to exchange knowledge and insights on emerging industry challenges.
At a recent press briefing, RACC Chairman, Olugbenga Akinlalu, highlighted the committee’s commitment to capacity building and fostering stronger engagement with regulators.
“One of our core mandates is to build capacity within the insurance industry,” Akinlalu said. “This year, we are placing special emphasis on upskilling to ensure that our members can deliver more effectively in areas of internal control, compliance, and governance oversight.”
He added that the retreat will feature a robust program of plenary and panel sessions, with expert contributions from top consulting firms such as Deloitte, KPMG, and PwC, alongside key regulators and industry leaders.
As part of its activities, RACC will also unveil the second edition of its industry-focused magazine. The publication will explore critical issues reshaping the insurance landscape, including artificial intelligence, internal controls, financial reporting, and sustainability.
The committee’s initiatives underscore a broader push to fortify governance practices in the insurance sector, particularly in light of ongoing recapitalization efforts and evolving regulatory expectations.
