NIA Chairman Seeks Support Of Industry Stakeholders For Ag NAICOM Boss

NIA Chairman, Mr. Tope Smart

The Chairman, Nigerian Insurers Association (NIA), Mr. Tope Smart has called on insurance industry stakeholders to support the newly appointed Acting Commissioner for Insurance, Mr. Sunday Thomas to move the industry forward.

Mr. Smart who made the call in a telephone interview with the Revealerng.com, described Mr. Thomas as a “thorough-breed insurance professional” which he said will use his professional experience for the growth of the industry.

“Mr. Sunday Thomas is thorough-breed insurance professional with many years of experience which he will bring to bear in the industry as the Acting Commissioner for Insurance.”

“For him to succeed in his assignment of moving the industry forward, he needs the support of all the stakeholders in the industry,” he said.

On the way forward of the industry, NIA Chairman who is also the Managing Director/Chief Executive of NEM Insurance, said in the next five years, the industry will become well capitalized, solid, with full potential and strong capacity to compete favourably with its peers in other countries of the world.

“In the next five years, I see insurance industry that will take the proper place in the economy of Nigerians. We will be able to have stronger insurance companies that are well capitalized, that can compete with its peers all over the world,” Mr. Smart said.

It should be recalled that the Federal Government had on April approved the appointment of Sunday Thomas as the Acting Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM) pending the appointment of a substantive head for the regulatory body.

This was made known through a statement signed by the Deputy Director, Home Finances, Mr. A. O. Bello, for the Permanent Secretary of the Ministry of Finance.

The statement reads: “I am directed to refer to a letter referenced NAICOM/FMF/DCTO/002 dated 2nd August, 2019 on the above subject and convey the approval for Mr. Sunday Thomas, Deputy Commissioner (Technical) to oversee the affairs of the Commission, pending the appointment of a substantive Commissioner for Insurance by Mr. President.

“This is to ensure the effective administration of the Commission in line with the provisions of the National Insurance Commission Act (1997).”