30 results
- 6 Feb 2012
National Health Insurance Commission Bill Passes Second Reading
Following the yearnings for a change in the health insurance sector, a Bill for an act to repeal the National Health Insurance Scheme, (Act No 35 of 1999) and to re-enact the National Health…
- 22 Nov 2024
Data Commission, NAICOM Partner to Safeguard Data in Insurance Industry
Nigerian Data Protection Commission (NDPC) and National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to protect data pilfering in the insurance industry. The…
- 21 Jul 2026
Senate Passes Landmark Insurance Reform Bill, Replaces 1997 NAICOM Act
The Senate yesterday recorded two major milestones in Nigeria’s financial sector, passing a landmark Insurance Regulatory Commission Bill to replace the nearly three-decade-old National Insurance…
- 27 Feb 2025
NAICOM Urges Nigerian Insurers to Develop Cyber Insurance Products
National Insurance Commission (NAICOM) has urged Nigerian insurance companies to develop and introduce cyber insurance products. This is in response to the escalating digital risks accompanying…
- 27 Feb 2025
NAICOM Tasks Insurance Companies on Local Cyber Insurance Products
National Insurance Commission (NAICOM) has urged local insurance companies to prioritise the development and rollout of cyber insurance products to address growing digital risks. The call was made by…
- 1 Jun 2021
NAICOM says Govt Assets Inadequately Insured
The National Insurance Commission, NAICOM, has said that most assets of the Federal Government are never adequately and appropriately insured. Mr. Sunday Thomas, Commissioner for Insurance, stated…
- 19 Feb 2025
NAICOM, UNDP, Others to Promote Insurance Literacy, Consumer Protection
The National Insurance Commission (NAICOM), and the United Nations Development Programme (UNDP) recently took their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja. NAICOM…
- 24 Nov 2025
NAICOM Mandates Insurance Customers to Link NIN, CAC Documents By April 2026
The National Insurance Commission, NAICOM, has directed all individual insurance customers to link their National Identification Number, NIN, to their insurance policies by April 30, 2026. The…
- 24 Dec 2021
NAICOM says Insurance Industry Attracting Huge Pension Funds
Mr. Sunday Thomas, the Commissioner for Insurance, National Insurance Commission, has said the insurance industry is attracting huge pension funds and contributing largely to the national economy. A…
- 28 Nov 2024
NAICOM Signs Agreement with NDPC on Data Protection in Insurance Sector
The National Insurance Commission (NAICOM), has signed agreement with the Nigerian Data Protection Commission (NDPC) with the aim of enhancing data protection within the insurance sector. According…
- 10 Jun 2022
NAICOM Urges PILA to Deepen Insurance Penetration
The National Insurance Commission (NAICOM) has urged the Professional Insurance Ladies Association (PILA) to use their position influence acceptance of insurance for better penetration and growth of…
- 6 Jan 2020
NAICOM says No Insurance Firm has Met Recapitalisation Requirements
National Insurance Commission said on Monday that no insurance company in the country could be categorised as having met the recapitalisation requirements at the moment. The commission said this was…
- 18 Jun 2024
NAICOM Seeks Police Support on Enforcement of Motor Third-party Insurance
The National Insurance Commission (NAICOM) has asked the support of the Nigeria Police Force in advancing the insurance industry road map particularly in the enforcement of Motor Third- Party…
- 23 Apr 2014
Terrorism Financing: NAICOM Beams Searchlight on KYCG of Insurers
National Insurance Commission (NAICOM) has started sending inspectors to insurance firms to ascertain whether they have been complying with the provisions of the law regarding money laundering and…
- 4 Nov 2025
Firms Eye Fintech Model for Insurance
Technology firms (InsurTechs) are working to secure the approval of the National Insurance Commissions (NAICOM) to drive insurance products in Nigeria. So far, Mp-Platform Ltd, Insurance Hub Nig.…
- 28 Dec 2016
NAICOM Threatens Insurers over Local Content Policy
The National Insurance Commission (NAICOM) will henceforth punish insurers who act against the local content policy. The regulator has discovered that some operators either fail or refuse to consider…
- 6 Jun 2023
NITDA Partners with NAICOM to Institutionalise Cyber Insurance
National Information Technology Development Agency (NITDA) is exploring partnership and collaboration with the National Insurance Commission (NAICOM) on how to institutionalise Cyber Security…
- 13 Sept 2022
NAICOM Begins Lobbying in Support of Compulsory Insurance Policy
The National Insurance Commission has sought the support of Kaduna State Government on implementation of the compulsory insurance policies in the country’s statutory laws. Alhaji Abdulrasaaq…
- 9 Jul 2017
NAICOM to Review Insurers’ Performance
The National Insurance Commission (NAICOM) plans to assess the implementation of the regulatory priorities for the industry in 2017, and strategise on how to improve the local retention of insurance…
- 28 Jun 2022
NAICOM Cancels Niger Insurance, Standard Alliance’s Operational Licences
National Insurance Commission (NAICOM) has cancelled the certificates of registration of Niger Insurance Plc and Standard Alliance Insurance Plc. This was disclosed in a statement issued by ‘Rasaaq…
- 30 Sept 2024
NAICOM Highlight Strategies to Achieve Insurance Penetration Across Nigeria
The National Insurance Commission (NAICOM), has highlighted five strategies it will adopt to achieve insurance accessibility and penetration across the country. The commission said these strategies…
- 1 Jul 2019
NAICOM Boss Calls for Reform of Insurance Industry
Mr. Mohammed Kari, the Commissioner for Insurance National Insurance Commission (NAICOM), has stressed the need to reform and digitise the country’s insurance industry to boost the economy. Kari said…
- 30 Oct 2024
NAICOM Sacks African Alliance Insurance Board
The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024. The Commissioner for Insurance, Mr. Segun Omosehin,…
- 5 Aug 2026
NAICOM Issues New Licences to 43 Recapitalized Insurers
The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking…
- 6 Oct 2021
NAICOM set to Enforce Insurance of Buildings above Two Floors
The National Insurance Commission (NAICOM) is set to enforce the insurance of buildings above two floors, in the country. Alhaji Sabiu Abubakar, Deputy Commissioner for Insurance, Technical disclosed…
- 31 Dec 2020
NAICOM Suspends Insurance Industry Recapitalisation
The National Insurance Commission (NAICOM) has suspended the ongoing Insurance industry’s recapitalisation following a court order on the initiative. NAICOM’s spokesman Rasaaq Salami, reacting to the…
- 4 Aug 2022
NAICOM to Enforce Compulsory Insurance
The National Insurance Commission (NAICOM) is set to commence the enforcement of compulsory insurance in the country. The Board of Directors of NAICOM led by its Chairman, Dr Abubakar Sani, was at…
- 6 Jun 2021
NAICOM Set to Commence Risk Based Supervision in Nigeria’s Insurance Sector
The National Insurance Commission, NAICOM is set to commence implementation of the Risk Based Supervision (RBS) policy. According to the Commission, this policy will take off in the next two months.…
- 6 Feb 2015
NAICOM to Consolidate on Insurance Reforms
The National Insurance Commission (NAICOM) said yesterday that in 2015 it would endeavour to consolidate on reforms initiated in the past seven years. Mr. Fola Daniel, commissioner For Insurance,…
- 23 Sept 2020
NAICOM Urges State Governments to Implement Compulsory Insurance
The National Insurance Commission, NAICOM, is seeking collaboration especially from State Governments on implementation and enforcement of compulsory insurance. Speaking during a meeting with the…