The Federal Government inaugurated a new Governing Board for the Commission on Thursday, March 08, 2018. The Board is under the Chairmanship of Chief Emmanuel Jideoffor Nwosu

Others inaugurated as members of the Board include:

  1. Musa Balarabe from the North West,
  2. Awwal Hamza from the North East;
  3. Otunba A. Akinniranye from the South West;
  4. Sunday O. Thomas, Deputy Commissioner Technical & Acting Commissioner For Insurance;
  5. Representative of the Federal Ministry of Finance;
  6. Federal Ministry of Trade and Investment;
  7. Central Bank of Nigeria ( CBN) and
  8. Richard Borokini, DG, Chartered Insurance Institute of Nigeria,(CIIN),

The Governing Board is responsible for the governance oversight of the Commission.