NAN-HE-25
Relocation
By Lucy Nwachukwu
Abuja, Oct. 26, 2016 (NAN) The National Insurance Commission (NAICOM) has relocated its Inspectorate Directorate from its head office in Abuja to the Lagos Control office for better service delivery to stakeholders, according to a statement.
The statement by the Head of Corporate Affairs, Mr Rasaaq Salami, noted that the relocation was part of the Commission ‘s ongoing restructuring exercise.
Salami stated that the relocation was also aimed at improving efficiency and bringing the Commission closer to regulated entities for effective insurance industry supervision.
He said “the Directorate is saddled with the responsibility of conducting on-site inspection of insurance entities for the Commission.
“It is imperative to note that over 90 per cent of insurance operators are in Lagos, being the hub of economic activities in the country.
“The relocation will thus ensure prompt and regular inspection of insurance firms and brokers.”
He, thereore, urged insurance industry operators to take advantage of the proximity to enjoy quicker and efficient service delivery from
the regulator.
NAICOM is a statutory agency of Federal Government established by law to regulate and supervise the Nigerian Insurance Sector.
The Commission derives its regulatory powers from the National Insurance Commission Act 1997 and the Insurance Act 2003.
The principal goal of the Commission is to ensure effective administration, supervision, regulation and control of insurance business
in Nigeria. (NAN)
LCN/HA
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(Edited by Hadiza Mohammed-Aliyu)