Insurance stakeholders back NAICOM over NIIRA 2025 implementation - Daily Post Nigeria

Insurance sector stakeholders in Nigeria have praised the completion of the 12-month recapitalization exercise as a major step towards strengthening the industry. They also expressed support for Insurance Commissioner Mr. Olusegun Ayo Omosehin regarding the implementation of the NIIRA 2025 law, which promotes recapitalization, enhanced policyholder protection, and stricter enforcement of compulsory insurance. The NIIRA, signed by President Bola Tinubu, replaced and consolidated previous laws, introducing stronger provisions on capital, risk-based supervision, corporate governance, and consumer protection.