The National Insurance Commission (NAICOM) and the Nigeria Police Force have launched a strategic partnership to reinforced the implementation of the Nigerian Insurance Industry Reform Act 2025 (NIIRA).
The Nigerian Insurance Industry Reform Act (NIIRA) 2025 is a landmark piece of legislation signed into law by President Bola Ahmed Tinubu on 5 August 2025. It represents the most comprehensive overhaul of Nigeria’s insurance regulatory framework in over two decades, aimed at modernizing the sector and aligning it with the government’s vision of a $1 trillion economy.
The Executive Management of NAICOM, led by the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, met in Abuja with the Inspector-General of Police (IGP), Olatunji Disu, to discuss a coordinated enforcement framework for deepening collaboration on the implementation of NIIRA 2025 and its other related reforms.
The meeting centred on joint efforts on combating fraudulent insurance practices, stabilize compliance across the insurance sector and ensuring that Nigerians who subscribe to insurance policies receives the protection safeguarded under the law.
However, the partnership is expected to fully enhance building public trust, improve transparency in insurance transactions nationwide, and curbing illegal insurance practices.
Speaking at the session, the Commissioner for Insurance, Mr Olusegun Omosehin stressed that NIIRA 2025 was enacted to modernize Nigeria’s insurance landscape, promote transparency and safeguard the interests of millions of Nigerians who rely on insurance for financial security.
He pointed out that NAICOM cannot achieve full compliance and market discipline without the active support of law enforcement agencies.
Responding, the Inspector-General of Police reiterated the commitment of the Nigeria Police Force to partner with NAICOM in tackling fraudulent activities, unauthorized insurance operations and other violations of insurance laws.
He assured that the police would provide the necessary operational and legal backing to ensure offenders are brought to justice and policyholders’ rights are fully protected.
