The activities of the Commission are coordinated in the following set up;
- Board of Directors: The Board of Directors is responsible for the governance oversight of the Commission.
- Commissioner for Insurance: He is the Chief Executive Officer of the Commission, supported in the Executive Committee of the Commission by two deputy Commissioners- Deputy Commissioner Technical and Deputy Commissioner Finance and Administration
- Directorate/Units: The External and Internal services of the Commission are provided by the following Directorates/ Units within the scope indicated.
- Authorization and Policy Directorate
- Inspectorate Directorate
- Supervision Directorate
- Finance and Accounts Directorate
- Research, Statistics and Corporate Strategy Directorate
- Administration and Human Resources Directorate
- Information Technology Unit:
The Information Technology Unit is responsible for the information technology services IT infrastructures.
- Legal & Board Secretariat Unit
The Legal and Board Secretariat Unit srves as the Board Secretariat, provides legal opinions, vetting and drafting of contracts, sealing of official documents, monitoring of suits in courts.
- Corporate Affairs Unit
The Corporate Affairs Unit serves as the mouth-piece of the Commission. Handles Publicity & Communication, Media Relations, Stakeholders’ Engagements & Brand Management, Protocol and Advert Approvals of insurance entities.
- Servicom Unit
Servicom Unit monitors, ensures quality service delivery, efficiency, transparency within the Commission.
- Audit Unit
The Audit Unit handles auditing of financial transactions and records and ensuring compliance with financial rules and regulations and Internal Control System.
- Complaint Bureau Unit:
The Complaint Bureau Unit receives and resolves all complaints against insurance entities over non-payment of genuine insurance claims and other misconducts.
- Enforcement & Compliance
The Enforcement and Compliance Unit dals with enforcement action taken by the Commission, including intervention and liquidation of irresolvable companies. Impose penalties and follow through.
- Sample Data-Articles
Mr. Mohammed Kari
Mohammed is the Commissioner for Insurance, Nigeria and Chief Executive Officer of the National Insurance Commission (NAICOM), the insurance Supervisory and Regulatory Authority in the Country.
He is a Chartered Insurer with over 36 years’ experience in insurance operations and hands-on management both in the private and public sectors.In the process, he has managed some of the biggest insurance institutions in Nigeria.
Prior his appointment as Nigeria’s Commissioner for Insurance and Chief Executive Officer of NAICOM on July 31, 2015, Alhaji Kari was the Deputy Commissioner for Insurance (Technical) where he was saddled with the responsibility of over-seeing technical (insurance) matters in the Commission.
Prior his appointment in April 2017 as Deputy Commissioner in charge of technical matters at the Commission, Mr. Thomas held the position of Director –General at the Nigerian Insurers Association (NIA) for seven years from May 2010.
He is a vastly experienced and knowledgeable Insurance Professional with over 35 years uninterrupted service to the Nigerian insurance industry. During these years, Mr. Thomas worked as a Director for seventeen (17) years at the National Insurance Commission from 1992 to December 2009 whereat different times, he superintended over different departments in the technical division. He had also worked as an insurance operator for over 10 years and rose to the position of Assistant General Manager at AIICO Insurance Plc until he left in 1992 to join NAICOM.
Mr. Thomas is an active participant in the insurance industry activities and had served as member of several Committees not only within the insurance industry but the entire Financial Services Sector.He holds a BSc (Hons) in Actuarial Science and an MBA Finance both from the University of Lagos.
Prior his appointment in November 2009 as Deputy Commissioner for Insurance, Mr. Onekhena was the Managing Partner in the firm of GeorgeAndrews + Partners, Accountants and Consultants. He has vast experience spanning over 33 years post-graduation in General Management, Finance, Corporate Governance, Marketing, Life Insurance, Non-Life Claims Management and Information Technology Application.
Mr. Onekhena successfully completed his first tenure as Deputy Commissioner and was subsequently reappointed to same position in November 2014 for a second and final tenure of five (5) years.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds a Master’s degree in Business Administration from the prestigious University of Lagos (1990). He is a distinguished Alumnus of the University of Benin.
As Deputy Commissioner in charge of Finance and Administration, Mr. Onekhena oversees Financial Reporting, Investments, Human Resources and Administration and, Financial Analysis of insurance entities in the Commission.
- Sample Data-Articles
- 2013 ACCOUNTS APPROVAL PROCESS 20th FEB 2014
- ACCOUNTING FOR ANNUITY BUSINESS
- ANNUAL AND QUARTERLY REGULATORY RETURN TEMPLATE FOR NIGERIAN INSURANCE INDUSTRY
- CERTIFIED TRUE COPY MARCH 2015
- COMPUTATION OF SOLVENCY MARGIN- NON LIFE INSURANCE
- DIRECTIVES ON RENDITION OF QUARTERLY RETURNS TO NAICOM
- DIRECTIVES ON RENDITION OF QUARTERLY RETURNS TO NAICOM 29 SEPT 16
- DIRECTIVES ON RENDITION OF QUARTERLY RETURNS TO NAICOM SEPT 16
- INVESTMENT PROPERTY, PROPERTY PLANT AND EQUIPMENT
- NOTICE TO ALL INSURANCE BROKERS AND LOSS ADJUSTERS
- POSTING OF APPROVED FINANCIAL STATEMENTS ON THE COMPANYS WEBSITE
- RE 2013 ACCOUNTS APPROVAL PROCESS FEB 2014
- REVISED QUARTERLY AND ANNUAL RETURNS TEMPLATE FOR INSURANCE REINSURANCE COMPANIES
- SHARING OF BROKERAGE INCOME WITH THE DEALING MEMBER FIRMS OF THE NSE
- CIRCULAR RATES FOR COMPULSORY INSURANCES
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The pop-up of Social Network Integration
- Sample Data-Articles