Finance Minister Inaugurates New NAICOM Board
By Patience Ikpeme
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, officially inaugurated the new board members of the National Insurance Commission (NAICOM) on Tuesday.
The ceremony, which took place in Abuja, saw Edun emphasize the significant role played by the insurance sector in stabilizing the Nigerian economy. However, he also acknowledged the immense responsibility entrusted to the board.
“The weight of this responsibility and the significance it holds is not lost on me,” Minister Edun stated. Despite this, he expressed full confidence in the board’s ability to deliver, highlighting their proven track records and extensive experience.
He noted that the nation’s long-term saving potential, coupled with its youthful population, provided an opportunity for the board to leverage these factors to drive economic growth.
President Bola Tinubu approved the appointments of the new NAICOM board on April 19th. The board, led by Chairperson Ms. Halima Kyari, includes Mr. Olusegun Omosehin as the Commissioner for Insurance, Mr. Olawoye Gam-Ikon as the Deputy Commissioner for Technical Operations, Dr. Usman Jimada as the Deputy Commissioner for Finance and Administration, Dr. Miriam Kachikwu, Mr. Adeniyi Fabikun, and Mr. Umar Mohammed.
President Tinubu emphasized the importance of probity in the insurance sector. The newly constituted NAICOM board is tasked with ensuring the safety, soundness, and stability of the industry, while protecting policyholders, serving the public interest, and fostering trust within the sector.
Chairperson Ms. Halima Kyari, upon receiving the appointment on behalf of the board, expressed gratitude for the President’s trust and the team’s commitment to fulfilling their mandate. Kyari stated, “We are a united team, committed to upholding the trust placed in us. Our loyalty will remain steadfast to the directives entrusted to us.”
Mrs. Lydia Jafiya, the Permanent Secretary of the Ministry of Finance, urged the newly inaugurated board members to fulfill their responsibilities with diligence.
