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The Corporate Affairs Commission (CAC) has pledged strong support for the National Insurance Commission (NAICOM) in the implementation of the newly enacted Nigeria Insurance Industry Reform Act (NIIRA) 2025.
The assurance was given when the Commissioner for Insurance, Olusegun Omosehin, led the NAICOM management team on a courtesy visit to the Registrar-General of CAC, Hussaini Magaji (SAN), at the Commission’s headquarters in Abuja.
A statement issued on Wednesday noted that discussions focused on the smooth execution of NIIRA 2025, particularly in ensuring a seamless recapitalisation process within the 12-month transition period mandated by the Act.
Magaji assured NAICOM of CAC’s readiness to collaborate by issuing guidelines to facilitate recapitalisation, enhancing data exchange between the agencies, and offering concessions and expedited clearances where required.
In response, Omosehin commended CAC for its continuous cooperation, stressing that its role is pivotal to the success of the reforms and the timely achievement of key milestones under NIIRA 2025.
The visit reflects the shared commitment of both regulators to deepen collaboration, strengthen institutional capacity, and accelerate growth in Nigeria’s insurance industry.
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