The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja on Tuesday, welcomed the National Insurance Commission board members to their new roles.
President Bola Tinubu previously approved the appointment of the board members on April 19.
The President approved the appointment of qualified Nigerians to the Board of NAICOM, including Ms Halima Kyari as Chairperson, Mr Olusegun Omosehin as Commissioner for Insurance, Mr Olawoye Gam-Ikon as Deputy Commissioner (Technical Operations), Dr Usman Jimada as Deputy Commissioner (Finance & Administration), Dr Miriam Kachikwu, Mr Adeniyi Fabikun and Mr. Umar Mohammed as Members, according to a statement signed by the Special Adviser to the President (Publicity and Media), Ajuri Ngelale.
The President expects the new board of NAICOM to lead the commission in ensuring a secure and trustworthy insurance sector, protecting policyholders, serving the public interest, and building trust and confidence in the sector.
NAICOM, established in 1997 by the National Insurance Commission Act 1997, is responsible for administering, supervising, regulating, and controlling the insurance business in Nigeria, and protecting policyholders, beneficiaries, and third parties to insurance contracts.
Welcoming the board members, the Minister of Finance expressed concern about the immense responsibility ahead.
However, he expressed confidence in their ability to fulfill their duties, considering their track records.
He stressed the importance of hard work to achieve President Bola Tinubu's administration's renewed hope agenda.
Edun highlighted the significance of the insurance sector in stabilizing the economy and urged the board to use resources effectively for economic growth, given Nigeria's large population and young demographic.
He congratulated the board members on receiving their appointment letters and recognized the weight of their responsibility and the significance it holds as the President's representatives.
Board Chairperson, Ms Halima Kyari, assured the minister that the members were prepared to work together to fulfill their core mandates and expressed gratitude for the trust placed in them.
“As a united team, we are committed to upholding the trust you’ve placed in us to lead this Commission. Our loyalty will steadfastly align with the directives and objectives you entrust to us. On behalf of the entire team, I extend our heartfelt gratitude. Your confidence in us is deeply valued, and we assure you that it will not be misplaced,” she said.
Mrs. Lydia Jafiya, the Permanent Secretary of the Ministry of Finance, also spoke to the board members about the importance of their support for the President’s agenda. She praised their confidence and encouraged them to fulfill their duties diligently.
