The Nigerian Insurers Association (NIA) has commended the National Insurance Commission (NAICOM) for its fair, transparent and structured implementation of the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
In an official statement released today, the Chairman of the NIA, Mrs. Ebelechukwu Nwachukwu, praised NAICOM’s structured approach — highlighting that clear regulatory guidelines, systematic verification, defined timelines, and rigorous supervisory oversight provided operators with a credible framework to navigate the recapitalisation exercise successfully.
Mrs. Nwachukwu noted that the exercise underscores NAICOM’s commitment to regulatory fairness and orderly market development, marking a pivotal milestone in bolstering the financial capacity, stability, and global competitiveness of the Nigerian insurance sector.
