Buhari approves appointment of two Deputy Commissioners for Insurance

President Muhammadu Buhari has approved the appointments of Alhaji Sabiu Bello Abubakar and Mr. Oba Olufemi Oluniyi FCA as Deputy Commissioners for Insurance, National Insurance Commission (NAICOM).

A statement by Head, Commissioner for Insurance Directorate, NAICOM, Rasaaq Salami, said Abubakar is the Deputy Commissioner, Technical while Oba will serve as the Deputy Commissioner in charge of Finance and Administration (F&A) in the Commission.

Both appointments are effective July 17th,  2020 for an initial tenure of five years.

Prior the present appointment, Sabiu Bello Abubakar worked with  Jaiz Takaful Insurance Plc as Executive Director (Operations & Training) since November, 2017. He is a Fellow of both Chartered Insurance Institute of Nigeria (CIIN) and Chartered Insurance Institute of London as well as Associate Member of Nigeria Institute of Management (AMNIM).

He graduated from Usmanu Danfodiyo University, Sokoto with Bachelor Degree in Education and has a Master’s degree in Business Administration (MBA) in Finance from the Bayero University Kano.

Having 25 years work experience in the Insurance industry serving in various capacities, he started his working career with NICON Insurance Corporation and worked in a number of other insurance institutions in Nigeria. Prominent among them are Industrial & General Insurance Company (IGI), Cornerstone Insurance Plc and the National Insurance Commission (NAICOM).

A prominent advocate and facilitator of financial inclusion in Nigeria particularly Takaful and Micro Insurance, with special skill in business ethics and development. Mr. Abubakar has verse experience in insurance regulation, Oil and Energy Insurance, Reinsurance and Insurance product development and design.

At NAICOM he was head Market Development and chaired many Committees such as Insurance of Government Strategic Assets Committee and contributed in development of many regulatory guidelines and policies.

He is a professional manager and has proven records on management.
He has attended several trainings both local and overseas.

Mr. Olufemi Oluniyi Oba until his appointment as Deputy Commissioner for Insurance, in charge of Finance and Administration, was overseeing the Supervision Directorate in the Commission.

He is also serving as a Non-Executive Director, Financial Reporting Council of Nigeria.