NAICOM – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Thu, 19 Mar 2026 07:21:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png NAICOM – InfoStride News https://www.theinfostride.com 32 32 NAICOM Dismisses Extension of Insurance Recapitalisation Deadline https://www.theinfostride.com/naicom-dismisses-extension-of-insurance-recapitalisation-deadline/ https://www.theinfostride.com/naicom-dismisses-extension-of-insurance-recapitalisation-deadline/#respond Thu, 19 Mar 2026 07:19:30 +0000 https://www.theinfostride.com/?p=474597 The National Insurance Commission has ruled out any extension of the deadline for the ongoing recapitalisation of insurance and reinsurance companies, insisting that operators must meet the stipulated capital requirements within the approved timeline. The regulator said the reform is critical to strengthening the insurance industry and enhancing its capacity to support Nigeria’s economy. NAICOM [...]

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]]> https://www.theinfostride.com/naicom-dismisses-extension-of-insurance-recapitalisation-deadline/feed/ 0 NAICOM, FRSC Partner to Strengthen Enforcement of Third-Party Motor Insurance Nationwide https://www.theinfostride.com/naicom-frsc-partner-to-strengthen-enforcement-of-third-party-motor-insurance-nationwide/ https://www.theinfostride.com/naicom-frsc-partner-to-strengthen-enforcement-of-third-party-motor-insurance-nationwide/#respond Sat, 31 Jan 2026 19:00:15 +0000 https://www.theinfostride.com/?p=470388 The National Insurance Commission (NAICOM) and the Federal Road Safety Corps (FRSC) have announced a new strategic collaboration aimed at improving compliance and enforcement of third-party motor insurance across Nigeria. The partnership, which was formally unveiled in Abuja, seeks to curb the rising cases of uninsured vehicles on Nigerian roads, enhance road safety, and promote [...]

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]]> https://www.theinfostride.com/naicom-frsc-partner-to-strengthen-enforcement-of-third-party-motor-insurance-nationwide/feed/ 0 NAICOM Mandates Compulsory Insurance for All Public Buildings in Nigeria https://www.theinfostride.com/naicom-mandates-compulsory-insurance-for-all-public-buildings-in-nigeria/ https://www.theinfostride.com/naicom-mandates-compulsory-insurance-for-all-public-buildings-in-nigeria/#respond Mon, 12 Jan 2026 22:59:40 +0000 https://www.theinfostride.com/?p=410647 The National Insurance Commission (NAICOM) has announced strict enforcement of the compulsory insurance policy for all public buildings across Nigeria, as stipulated in Section 65 of the Insurance Act 2003. This move aims to enhance public safety and boost insurance penetration in the country. Key Details of the Directive: – Applies to all buildings accessible [...]

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]]> https://www.theinfostride.com/naicom-mandates-compulsory-insurance-for-all-public-buildings-in-nigeria/feed/ 0 NAICOM Sanctions Former African Alliance Insurance Directors with Blacklist https://www.theinfostride.com/naicom-sanctions-former-african-alliance-insurance-directors-with-blacklist/ https://www.theinfostride.com/naicom-sanctions-former-african-alliance-insurance-directors-with-blacklist/#respond Wed, 24 Dec 2025 12:25:46 +0000 https://www.theinfostride.com/?p=467748 The National Insurance Commission (NAICOM) has officially blacklisted several former directors of African Alliance Insurance Plc, marking a significant move in its ongoing drive to strengthen corporate governance and accountability in Nigeria’s insurance industry. The development comes after an extensive regulatory review into the company’s operations, where lapses in management practices and breaches of regulatory [...]

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]]> https://www.theinfostride.com/naicom-sanctions-former-african-alliance-insurance-directors-with-blacklist/feed/ 0 NAICOM Launches NIIRA Implementation Working Groups to Strengthen Insurance Industry Regulation https://www.theinfostride.com/naicom-launches-niira-implementation-working-groups-to-strengthen-insurance-industry-regulation/ https://www.theinfostride.com/naicom-launches-niira-implementation-working-groups-to-strengthen-insurance-industry-regulation/#respond Wed, 05 Nov 2025 16:12:12 +0000 https://www.theinfostride.com/?p=470864 The National Insurance Commission (NAICOM) has inaugurated the Nigeria Insurance Industry Repository and Archive (NIIRA) Implementation Working Groups, marking a major step toward enhancing transparency, efficiency, and digital transformation within Nigeria’s insurance sector. The move, according to the Commission, is part of its broader agenda to modernise regulatory operations and foster sustainable growth in the [...]

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]]> https://www.theinfostride.com/naicom-launches-niira-implementation-working-groups-to-strengthen-insurance-industry-regulation/feed/ 0 NAICOM, FRSC, NHIA Join Forces to Strengthen Enforcement of Motor and Health Insurance Compliance https://www.theinfostride.com/naicom-frsc-nhia-join-forces-to-strengthen-enforcement-of-motor-and-health-insurance-compliance/ https://www.theinfostride.com/naicom-frsc-nhia-join-forces-to-strengthen-enforcement-of-motor-and-health-insurance-compliance/#respond Sat, 25 Oct 2025 19:25:45 +0000 https://www.theinfostride.com/?p=469973 The National Insurance Commission (NAICOM), the Federal Road Safety Corps (FRSC), and the National Health Insurance Authority (NHIA) have announced a collaborative framework to enhance the enforcement of compulsory insurance schemes across Nigeria, particularly focusing on motor and health insurance compliance. The partnership, which was formalised during a strategic meeting in Abuja, aims to address [...]

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]]> https://www.theinfostride.com/naicom-frsc-nhia-join-forces-to-strengthen-enforcement-of-motor-and-health-insurance-compliance/feed/ 0 NAICOM Underscores Insurance Industry’s Vital Role in Tackling Climate Change https://www.theinfostride.com/naicom-underscores-insurance-industrys-vital-role-in-tackling-climate-change/ https://www.theinfostride.com/naicom-underscores-insurance-industrys-vital-role-in-tackling-climate-change/#respond Tue, 14 Oct 2025 14:56:45 +0000 https://www.theinfostride.com/?p=469069 The National Insurance Commission (NAICOM) has reiterated the pivotal role of the insurance industry in addressing the economic and environmental challenges posed by climate change. The Commission emphasized that insurance must move beyond traditional risk coverage to become a strategic tool for climate resilience, disaster risk management, and sustainable development across Nigeria and West Africa. [...]

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]]> https://www.theinfostride.com/naicom-underscores-insurance-industrys-vital-role-in-tackling-climate-change/feed/ 0 Insurance Act Will Transform Sector, Says Ex-NAICOM Boss Thomas https://www.theinfostride.com/insurance-act-will-transform-sector-says-ex-naicom-boss-thomas/ https://www.theinfostride.com/insurance-act-will-transform-sector-says-ex-naicom-boss-thomas/#respond Sun, 05 Oct 2025 13:07:39 +0000 https://www.theinfostride.com/?p=468301 Sunday Olorundare Thomas, former Commissioner for Insurance and a past Managing Director at NAICOM, has said that the newly enacted Nigeria Insurance Industry Reform Act 2025 will fundamentally change Nigeria’s insurance sector. He described the law as a “game-changer” that corrects long-standing weaknesses in regulation, capital structure, and public confidence, and will enable the industry [...]

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]]> https://www.theinfostride.com/insurance-act-will-transform-sector-says-ex-naicom-boss-thomas/feed/ 0 NAICOM Identifies Technology as the Driving Force for Insurance Sector Growth https://www.theinfostride.com/naicom-identifies-technology-as-the-driving-force-for-insurance-sector-growth/ https://www.theinfostride.com/naicom-identifies-technology-as-the-driving-force-for-insurance-sector-growth/#respond Sat, 13 Sep 2025 17:46:32 +0000 https://www.theinfostride.com/?p=466538 The National Insurance Commission (NAICOM) has reiterated that technology adoption remains the most critical factor in repositioning Nigeria’s insurance sector for growth, efficiency, and long-term relevance. With the financial services industry rapidly evolving in the digital era, NAICOM insists that the insurance sector cannot afford to lag behind if it must deliver value to customers, [...]

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]]> https://www.theinfostride.com/naicom-identifies-technology-as-the-driving-force-for-insurance-sector-growth/feed/ 0 NAICOM Issues Ultimatum to Insurers: Recapitalise or Risk Liquidation https://www.theinfostride.com/naicom-issues-ultimatum-to-insurers-recapitalise-or-risk-liquidation/ https://www.theinfostride.com/naicom-issues-ultimatum-to-insurers-recapitalise-or-risk-liquidation/#respond Sat, 16 Aug 2025 06:31:24 +0000 https://www.theinfostride.com/?p=465142 The National Insurance Commission (NAICOM) has issued a stern warning to insurance and reinsurance firms across Nigeria, urging them to meet the recapitalisation requirements or risk facing liquidation. The move underscores the regulator’s resolve to strengthen the financial stability of the insurance sector, improve risk absorption capacity, and enhance consumer confidence in an industry that [...]

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]]> https://www.theinfostride.com/naicom-issues-ultimatum-to-insurers-recapitalise-or-risk-liquidation/feed/ 0 NAICOM and FRSC Enhance Cooperation on Third-Party Insurance Enforcement https://www.theinfostride.com/naicom-and-frsc-enhance-cooperation-on-third-party-insurance-enforcement/ https://www.theinfostride.com/naicom-and-frsc-enhance-cooperation-on-third-party-insurance-enforcement/#respond Wed, 23 Jul 2025 22:00:52 +0000 https://www.theinfostride.com/?p=402676 The National Insurance Commission (NAICOM) and the Federal Road Safety Corps (FRSC) are ramping up efforts to ensure better enforcement of third-party motor insurance across Nigeria. The move aims to improve road safety and ensure compliance with mandatory insurance policies for vehicle owners. As part of this initiative, both agencies have agreed to share data [...]

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]]> https://www.theinfostride.com/naicom-and-frsc-enhance-cooperation-on-third-party-insurance-enforcement/feed/ 0 NAICOM Supports Enforcement of Third-Party Motor Insurance to Enhance Road Safety https://www.theinfostride.com/naicom-supports-enforcement-of-third-party-motor-insurance-to-enhance-road-safety/ https://www.theinfostride.com/naicom-supports-enforcement-of-third-party-motor-insurance-to-enhance-road-safety/#respond Thu, 16 Jan 2025 16:09:58 +0000 https://www.theinfostride.com/?p=400815 The National Insurance Commission (NAICOM) has expressed its strong backing for the enforcement of third-party motor insurance in Nigeria, aiming to improve road safety and protect the interests of motorists and passengers. NAICOM’s support comes in response to ongoing concerns about the increasing number of road accidents and the lack of adequate insurance coverage for [...]

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]]> https://www.theinfostride.com/naicom-supports-enforcement-of-third-party-motor-insurance-to-enhance-road-safety/feed/ 0 Insurance Bill to Boost Growth in Nigeria’s Insurance Sector – NAICOM https://www.theinfostride.com/insurance-bill-to-boost-growth-in-nigerias-insurance-sector-naicom/ https://www.theinfostride.com/insurance-bill-to-boost-growth-in-nigerias-insurance-sector-naicom/#respond Fri, 20 Dec 2024 14:04:37 +0000 https://www.theinfostride.com/?p=398332 The National Insurance Commission (NAICOM) has expressed optimism that the newly proposed Insurance Bill will significantly enhance the growth and competitiveness of Nigeria’s insurance sector. The bill, which focuses on strengthening regulatory frameworks and expanding market participation, is poised to address longstanding challenges in the industry while unlocking its full potential. Enhancing Regulatory Frameworks The [...]

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]]> https://www.theinfostride.com/insurance-bill-to-boost-growth-in-nigerias-insurance-sector-naicom/feed/ 0 NAICOM, NDPC Partner to Enhance Data Protection in Insurance Sector https://www.theinfostride.com/naicom-ndpc-partner-to-enhance-data-protection-in-insurance-sector/ https://www.theinfostride.com/naicom-ndpc-partner-to-enhance-data-protection-in-insurance-sector/#respond Sun, 24 Nov 2024 09:30:15 +0000 https://www.theinfostride.com/?p=395467 The National Insurance Commission (NAICOM) has joined forces with the Nigeria Data Protection Commission (NDPC) to bolster data protection practices within the insurance industry. The collaboration is part of a broader effort to ensure compliance with Nigeria’s data protection regulations and to strengthen the security of personal and financial information in an increasingly digitized economy. [...]

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]]> https://www.theinfostride.com/naicom-ndpc-partner-to-enhance-data-protection-in-insurance-sector/feed/ 0 Minority Shareholders Applaud NAICOM’s Takeover of African Alliance Insurance https://www.theinfostride.com/minority-shareholders-applaud-naicoms-takeover-of-african-alliance-insurance/ https://www.theinfostride.com/minority-shareholders-applaud-naicoms-takeover-of-african-alliance-insurance/#respond Thu, 31 Oct 2024 10:14:42 +0000 https://www.theinfostride.com/?p=392808 Minority shareholders have expressed support for the recent intervention by the National Insurance Commission (NAICOM) in taking over African Alliance Insurance Plc. This development, which has generated widespread attention in the insurance sector, is seen by shareholders as a decisive move to protect their interests, restore operational stability, and ensure the company’s long-term viability. The [...]

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]]> https://www.theinfostride.com/minority-shareholders-applaud-naicoms-takeover-of-african-alliance-insurance/feed/ 0 Pension Funds Surge by 22% to N18 Trillion, Reports NAICOM https://www.theinfostride.com/pension-funds-surge-by-22-to-n18-trillion-reports-naicom/ https://www.theinfostride.com/pension-funds-surge-by-22-to-n18-trillion-reports-naicom/#respond Tue, 30 Jan 2024 11:48:22 +0000 https://www.theinfostride.com/?p=369231 The National Insurance Commission (NAICOM) has reported a remarkable 22% increase in pension funds, reaching a total of N18 trillion. This surge reflects the continued growth and resilience of the pension sector, contributing to the financial stability and future security of retirees. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including [...]

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]]> https://www.theinfostride.com/pension-funds-surge-by-22-to-n18-trillion-reports-naicom/feed/ 0 NAICOM, NCRIB seek partnership to unlock insurtech potential https://www.theinfostride.com/naicom-ncrib-seek-partnership-to-unlock-insurtech-potential/ https://www.theinfostride.com/naicom-ncrib-seek-partnership-to-unlock-insurtech-potential/#respond Mon, 25 Jul 2022 22:57:15 +0000 https://www.theinfostride.com/?p=329218 The National Insurance Commission (NAICOM) and the Nigerian Council of Registered Insurance Brokers (NCRIB) have canvassed greater collaboration in harnessing opportunities for conducting the underwriting and brokerage businesses through technology. The decision was made at the 2022 mid-year workshop organized by the Lagos Area Committee (LAC) of NCRIB with the theme ‘Opportunities and Challenges of [...]

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]]> https://www.theinfostride.com/naicom-ncrib-seek-partnership-to-unlock-insurtech-potential/feed/ 0 NAICOM discovers need for restructuring to address African market issues https://www.theinfostride.com/naicom-discovers-need-for-restructuring-to-address-african-market-issues/ https://www.theinfostride.com/naicom-discovers-need-for-restructuring-to-address-african-market-issues/#respond Tue, 14 Sep 2021 16:49:10 +0000 https://www.theinfostride.com/?p=308042 The National Insurance Commission (NAICOM) has emphasized the need for regulatory restructuring to address the issues in African insurance markets. The Commissioner for Insurance, Sunday Thomas, declared at the 47th African Insurance Organisation (AIO) in Lagos last week that “the time for change has come in the regulatory challenges in the African insurance markets. “The [...]

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]]> https://www.theinfostride.com/naicom-discovers-need-for-restructuring-to-address-african-market-issues/feed/ 0 NAICOM tasks marketers on retail market expansion https://www.theinfostride.com/naicom-tasks-marketers-on-retail-market-expansion/ https://www.theinfostride.com/naicom-tasks-marketers-on-retail-market-expansion/#respond Mon, 30 Aug 2021 22:50:41 +0000 https://www.theinfostride.com/?p=305401 The Commissioner for Insurance, National Insurance Commission(NAICOM), Sunday Thomas, has tasked insurers with the development of the retail market. He said this during a courtesy visit to one of the retail outlets of Mutual Benefits Assurance Plc, in Lagos. The Commissioner, who was elated over the commitment to the retail business by the underwriter, said [...]

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]]> https://www.theinfostride.com/naicom-tasks-marketers-on-retail-market-expansion/feed/ 0 CHI secures microinsurance licence https://www.theinfostride.com/chi-secures-microinsurance-licence/ https://www.theinfostride.com/chi-secures-microinsurance-licence/#respond Mon, 02 Aug 2021 22:19:49 +0000 https://www.theinfostride.com/?p=302764 Consolidated Hallmark Insurance (CHI Plc) has added a new line to its expanding insurance interests through the new operational licence granted to one of its subsidiaries, CHI MicroInsurance Limited (Life Assurance), by the National Insurance Commission (NAICOM).The Group Managing Director of CHI, who also doubles as the Chairman, CHI Micro insurance Limited, Eddie Efekoha, told [...]

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]]> https://www.theinfostride.com/chi-secures-microinsurance-licence/feed/ 0 NAICOM shares ideas and advises on corporate governance guideline implementation https://www.theinfostride.com/naicom-advises-on-corporate-governance-guideline-implementation/ https://www.theinfostride.com/naicom-advises-on-corporate-governance-guideline-implementation/#respond Mon, 19 Jul 2021 21:24:20 +0000 https://www.theinfostride.com/?p=301341 The National Insurance Commission (NAICOM) has revealed plans to sanction insurance operators that fail to implement the corporate governance guidelines in the country. The Commissioner for Insurance, Sunday Thomas, at a workshop in Lagos, said the absence of sound corporate governance structure in some insurance companies has been the cause of the industry’s abysmal performance. [...]

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]]> https://www.theinfostride.com/naicom-advises-on-corporate-governance-guideline-implementation/feed/ 0 NAICOM Gives Guidelines To Insurance Companies On Microinsurance Windows Operations https://www.theinfostride.com/naicom-gives-guidelines-to-insurance-companies-on-on-microinsurance-windows-operations/ https://www.theinfostride.com/naicom-gives-guidelines-to-insurance-companies-on-on-microinsurance-windows-operations/#respond Tue, 01 Dec 2020 17:14:18 +0000 https://www.theinfostride.com/?p=276260 The National Insurance Commission, (NAICOM), has given insurance companies in Nigeria, guidelines for windows operations. This was stated in a circular released by NAICOM. In the circular was stated the full guidelines for an insurance company to granted windows operations. NAICOM noted that any insurance company who wants to transact microinsurance business should obtain the [...]

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]]> https://www.theinfostride.com/naicom-gives-guidelines-to-insurance-companies-on-on-microinsurance-windows-operations/feed/ 0 NAICOM should Penalise Rate-Cutting Insurance Firms – Oyegunle https://www.theinfostride.com/naicom-should-penalise-rate-cutting-insurance-firms-oyegunle/ Fri, 28 Jul 2017 09:45:31 +0000 https://www.theinfostride.com/?p=174343 An insurance expert, Mr Mufutau Oyegunle, has called on the National Insurance Commission (NAICOM) to start penalisng insurance firms that were still neck deep into premium rate-cutting despite several warnings. He gave the advice in an interview with NAN in Lagos on Wednesday, July 26, 2017. Oyegunle, who is the Managing Director of LAKEG Insurance [...]

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]]> Finance Minister Discloses FG’s Move To Pay Over N10bn Premiums Owed Insurance Companies https://www.theinfostride.com/finance-minister-discloses-fgs-move-to-pay-over-n10bn-premiums-owed-insurance-companies/ Sat, 28 Nov 2015 19:19:23 +0000 http://www.theinfostride.com/?p=109528 The Federal Government has promised to offset outstanding premiums owed the insurance industry as soon as the economic situation of the country improves. Cumulative premium on group life insurance owed the insurance industry by the Federal Government is said to be in excess of N10 billion. Minister of Finance, Mrs Kemi Adeosun made the disclosure [...]

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