NAICOM Partners Abia State to Boost Investor Confidence, Safeguard Economy
By Aboki Forex —
The National Insurance Commission (NAICOM) has sealed a partnership with the Abia State Government to protect economic activities, reduce risks, and strengthen investor confidence.
Commissioner for Insurance and CEO of NAICOM, Olusegun Omosehin, disclosed this on Monday after leading a delegation to Governor Alex Otti in Umuahia. In a statement issued Tuesday in Abuja, Omosehin stressed that a strong insurance system is key to protecting business investments and securing livelihoods across Abia’s critical sectors.
Omosehin highlighted recent reforms and assured the governor and his executive council that the newly established Insurance Policyholders’ Protection Fund (IPPF) will reinforce industry stability. He explained that the fund, created by NAICOM under the provisions of NIIRA2025, is designed to protect policyholders’ interests. It will ensure prompt and fair settlement of valid claims, boosting consumer trust and market confidence.
Governor Otti commended NAICOM’s leadership for progress in the insurance sector. He pledged his administration’s support for a sustainable partnership with the insurance industry to improve risk management.
The NAICOM delegation included Deputy Commissioner (Finance & Administration) Ekerete Gam-Ikon, alongside presidents and senior executives from the Nigerian Council of Registered Insurance Brokers. Representatives from the Nigerian Insurers Association, the Chartered Insurance Institute of Nigeria, and the Institute of Loss Adjusters of Nigeria also joined the visit.