NAICOM Adopts Global Performance Framework to Drive Accountability and Efficiency
By Patience Ikpeme
The National Insurance Commission (NAICOM) is adopting the Objectives and Key Results (OKR) framework, a globally recognised performance management approach, in a significant move towards strengthening its regulatory efficiency and organisational effectiveness.
The disclosure was made by Dr. Usman Jankara, Deputy Commissioner (Technical), while speaking at a recent Performance Management Workshop. OKR is defined as a goal-setting system that explicitly links qualitative objectives with quantifiable key results, essentially stating: “I will achieve [Objective] as measured by [Key Results].”
Dr. Jankara explained that the framework is well-suited for the Commission’s mission-driven mandate. “For NAICOM, adoption of OKR will promote alignment and transparency across teams, enable us to focus on outcomes, not activities, and most importantly, it is ideal for mission-driven, non-profit organizations like NAICOM because it places importance on impact over profit,” he said.
He further detailed the internal mechanism of the new system, which is set to cascade down to all staff. “Every staff member will have clear, measurable key results aligned with Directorate and Commission-wide objectives. To this end, you might decide to use SMART principles: (Specific, Measurable, Achievable, Relevant, Time-bound), and ensure that scoring follows global best practice,” Dr. Jankara stated.
He was quick to clarify the spirit of the initiative, adding: “this is not about punishment; it is about clarity, accountability, and continuous improvement.”
Management’s expectations from the full implementation of the framework are broad and ambitious. Dr. Jankara noted that from the workshop and subsequent implementation, “Management expects full alignment of Directorate and Departmental goals with NAICOM’s strategic priorities, improved regulatory efficiency through risk-based supervision and digital transformation and enhanced consumer confidence via prompt claims settlement and transparency as well as greater insurance penetration, supporting Nigeria’s economic aspirations.”
NAICOM’s push for increased performance is directly linked to its five strategic goals designed to: protect policyholders and restore confidence in the insurance industry; strengthen supervisory capacity and organizational effectiveness; ensure financial soundness and stability of the insurance sector; promote innovation and sustainability in products and processes; and expand insurance penetration and accessibility across Nigeria.
These goals are further supported by strategic objectives such as digital transformation, governance excellence, and effective claims management.
The Deputy Commissioner also stressed the vital role of the Commission’s personnel in achieving success.
“NAICOM is a service organization. People can make or mar it. Our success depends on the honesty, dedication, and commitment of every leader here, and of the teams you lead. There is therefore the need to instil these virtues among your subordinates. Without them, no strategy will succeed,” he asserted.
Dr. Jankara also spoke positively on the recent legislative overhaul, saying: “The Nigerian Insurance Industry Reform Act (NIIRA) 2025 is a landmark achievement. Management will not rest until these reforms reposition the industry as a pillar of Nigeria’s financial system.”
Concluding his address with a call to action for his colleagues, he said: “reforms alone cannot deliver results. Culture eats strategy for breakfast. We must enthrone a culture of excellence and accountability.”
