By Henry Uche
National Insurance Commission (NAICOM) has maintained that insurance cover for both human resources, fixed assets and other valuables are critical for national security and economic stability.
The Commissioner for Insurance, Mr. Olusegun Omosehin, made this known in Lagos at the just concluded inaugural Insurance Week, a landmark campaign in Nigeria’s insurance industry, aimed at raising awareness and empowering citizens on the importance of insurance.
Speaking at the Grand Finale and Award Ceremony/Gala Night, put together by Chartered Insurance Institute of Nigeria (CIIN) on Friday in Yaba, Lagos State, the Commissioner said, “From Lagos to Abuja, we are seeing growing interest and participation in insurance awareness campaigns throughout the week. The amplification of these efforts nationwide is thanks to every one of you,”
The Commissioner, who emphasized the importance of sustaining the momentum, issued a call to action saying: “I hope we remain vibrant beyond this week as we continue to amplify insurance awareness nationwide. Without insurance, our economy will be more vulnerable and our people less secure” he added.
The weeklong celebration featured awareness walks, school visits, market outreaches, and a youth-focused innovation challenge and culminated in a grand finale held at the State National Stadium in Lagos.
To motivate persons and groups to double their efforts in boosting insurance penetration and adoption, the
CIIN Year 2025/2026 Ambassador Competition winner award was Sanusi Ishola of Noor Takaful Insurance Limited; 1st Runner Up was Adesina Waris of Noor Takaful Insurance Limited, while 2nd Runner Up was Popoola Adedoyin, of Linkage Assurance Plc.
CIIN President, Mrs. Yetunde Ilori, reiterated the institute’s commitment to initiatives that promote learning and engagement within the insurance sector.
Ilori highlighted the significance of the occasion, stating, “This is the first time we are having Insurance Week in the history of the insurance industry.”
Ilori explained that the initiative was designed to reach the grassroots and spotlight the critical role of insurance in the national economy. “The goal is to create awareness about insurance. Many people still don’t fully understand what insurance is,” she said.
She called on President Bola Tinubu to support the sector with necessary legislative reforms, and stressed the need for people to protect what value through insurance. “Whatever you treasure, you need to protect with insurance. Insurance is, in fact, the backbone of any nation’s economy. We urge the Federal Government to assent to our proposed law so that we can implement the reforms needed to transform the entire economy.”
