BY NKECHI NAECHE-ESEZOR—The National Insurance Commission (NAICOM) has named the former President of the African Development Bank Group, Dr. Akinwumi Adesina, as Insurance Ambassador.
Adesina disclosed this while presenting his paper, “The Role of Directors in Upholding Governance Standards,” at the 2026 Insurance Directors’ Conference in Lagos. The conference was themed “Recapitalisation to Resilience: Leading the Risk-Based Capital Era.”
He said the idea was made known to him by the Commissioner for Insurance, Mr. Ayo Omosehin, and that he had thought it over and accepted.
“As I reflected a lot on these things overnight as well, I wanted you to know where I stand on this issue. And, Mr. Commissioner, I accept that,” he said.
He said he is ready to work with the industry to attract foreign partnerships to help it grow.
Adesina also warned that insurance money is not government money but policyholders’ funds, which must be channelled to the right sources.
He called on the institute to produce a new generation of insurance leaders capable of managing increasingly complex institutions and competing effectively in a rapidly changing financial environment. To achieve this, he said, “we must attract talented young Nigerians into the profession and establish credible succession pathways for leadership positions.”
