Business

NIA to Honour Past Governing Council Members, Former Director Generals

Published

3 months ago

April 14, 2026

Preport

The Nigerian Insurers Association (NIA) is pleased to announce plans to honour its past Governing Council Members and Director General in recognition of their invaluable contributions to the growth and development of the Association.

This initiative underscores the Association’s deep appreciation for the visionary leadership, dedication, and selfless service of those who have steered the affairs of the NIA over the years. Their efforts have laid a solid
foundation for the Association’s achievements and strengthened its role as the collective voice of the insurance industry.

The event is scheduled to take place on Thursday,30 April 2026, at the Insurers House, 42 Saka Tinubu Street, Victoria Island, Lagos, under the theme, “Service as the Cornerstone of Leadership and Institutional Legacy.”

Speaking on the significance of the initiative, the Chairman of the NIA, Mr. Kunle Ahmed, noted that honouring past Governing Council Members and Director Generals is not only a mark of respect but also a way of preserving the Association’s rich legacy.

He said that their guidance and commitment have been instrumental in shaping policies, fostering industry collaboration, and promoting public confidence in insurance as a tool for national development.

Kunle emphasized that the structures laid down by the past leaders, the values they upheld, and the sacrifices they made continue to resonate in the Association’s present achievements.

He noted: “Institutions are built over time, but their true strength lies in the people who devote themselves in service.

“This event is our way of pausing to honour those whose leadership and sacrifices created the pathway we now walk. Their legacy is not confined to history—it lives on in every milestone we celebrate today.”

The NIA Chairman further stated that by celebrating the Association’s past leaders, the NIA preserves its history, reinforces its values, and set a clear benchmark for future leadership.

According to him, the progress the Association enjoy today is firmly anchored in the foresight and dedication of its past leaders.

“Without question, they remain the bedrock of the NIA’s enduring relevance and success, he said.”

The ceremony will bring together industry stakeholders, regulators, and partners to celebrate these distinguished leaders and reaffirm the Association’s commitment to excellence, innovation, and sustainable growth.

The NIA looks forward to this memorable occasion as it continues to build on the foundations laid by its past leaders while charting new paths for the future of insurance in Nigeria.

Related Topics:Former Director Generals NIA to Honour Past Governing Council Members

Up Next

BREAKING: Insecurity Will End After 2027 Elections — Akpabio

Don't Miss

40-year-old man bags two-year prison sentence over stolen car

Click to comment

Business

FAAN unveils 2025 bye-laws

Published

38 minutes ago

July 22, 2026

Preport

The Federal Airports Authority of Nigeria (FAAN) has unveiled its 2025 Bye-Laws, marking the first comprehensive review of the authority’s regulatory framework in 21 years.

The new bye-laws were officially launched by the Chairman of the FAAN Board, Umar Ganduje, who commended the management for successfully reviewing the legal framework to reflect current realities in the aviation industry. He described the revised bye-laws as a significant milestone that will strengthen airport governance and enhance operational efficiency across the authority.

Speaking at the unveiling, the Managing Director/Chief Executive of FAAN, Olubunmi Kuku, said the previous bye-laws, last reviewed in 2005, had become outdated and were no longer effective in addressing the demands of the modern aviation environment.

She explained that the 2025 Bye-Laws were developed in line with current aviation realities and FAAN’s evolving operational framework to ensure the Authority remains responsive to emerging challenges and global best practices.

READ ALSO: FAAN set to transform domestic air travel with V-Pass facial recognition system

According to Mrs Kuku, the revised bye-laws will serve as a comprehensive operational guide for FAAN staff, airport users, stakeholders and relevant partners, while promoting safer, more secure and commercially viable airport operations across the country’s airport network.

She added that the new framework reinforces FAAN’s commitment to regulatory compliance, operational excellence and improved service delivery in Nigeria’s aviation sector.

Business

Senate Passes Bill to Rename NAICOM as Insurance Regulatory Commission

Published

9 hours ago

July 22, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The Senate on Tuesday passed a bill seeking to rename the National Insurance Commission (NAICOM) as the Insurance Regulatory Commission.

If enacted, the proposed law will establish an Insurance Regulatory Commission and repeal the existing legislation that established the National Insurance Commission (NAICOM).

Under the proposed framework, the new regulatory body would be responsible for providing guidance to the Federal Government on policies concerning natural disaster risks and other important issues affectcing the insurance sector.

The bill was sponsored by the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mukhail Adetokunbo Abiru (APC, Lagos East).

Presenting the report, Abiru said “The current National Insurance Commission Act 1997 is outdated and does not adequately address the emerging economic growth, needs and development of the insurance business.”

“Despite its the commission’s vsignificant contributions, the enabling law has become obsolete, failing to align with current realities and global best practices, and unable to keep pace with the evolving nature of the insurance industry, exposing numerous gaps in the law and necessitating urgent amendments,” he said.

Regarding administrative leadership, Abiru explained that the draft law outlines precise criteria for director appointments, guaranteeing that solely qualified specialists with backgrounds in risk mitigation, law, financial systems, corporate management, and underwriting obtain leadership seats.

He noted further that this updated statute equips the agency to offer enhanced strategic guidance and supervisory control, driving the expansion of the nation’s coverage market

The post Senate Passes Bill to Rename NAICOM as Insurance Regulatory Commission appeared first on Business Today NG.