By Bisi Bamishe
The Chairman of the House of Representatives Committee on Insurance and Actuarial Matters, Hon. Ahmadu Usman Jaha, has reaffirmed the National Assembly’s commitment to strengthening Nigeria’s insurance industry through legislation aimed at improving regulation, consumer protection and insurance penetration.
Jaha gave the assurance on Friday at the investiture of Mr. Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) at Harbour Point Event Centre, Victoria Island, Lagos.
He said the House of Representatives would continue to support legislative initiatives that promote innovation, attract investment and enhance public confidence in the insurance sector.
“As Chairman of the House Committee on Insurance and Actuarial Matters, I wish to reaffirm the unwavering commitment of the House of Representatives to supporting legislative initiatives that will strengthen the insurance industry, improve regulatory effectiveness, enhance consumer protection and promote wider insurance penetration across Nigeria,” he said.
According to Jaha, the National Assembly recognises the critical role of the insurance industry in mobilising long-term capital, financing infrastructure development, protecting businesses and households against unforeseen risks, promoting financial stability and driving sustainable economic growth.
He noted that creating an enabling legal framework remains essential to unlocking the sector’s full potential and strengthening public trust in insurance.
The lawmaker described the Chartered Insurance Institute of Nigeria as a strategic partner in advancing professional competence, ethical standards and capacity development within the industry, adding that the House looks forward to sustained collaboration with the Institute in shaping policies and legislation that will improve the resilience and global competitiveness of Nigeria’s insurance market.
Congratulating Orimolade on his emergence as the Institute’s 53rd President, Jaha said the investiture reflected the confidence of the CIIN leadership in his professional competence and commitment to advancing the insurance profession.
He commended the Institute for its long-standing contributions to promoting excellence, ethics, education, research, certification and continuous professional development, noting that these efforts have strengthened the credibility and competitiveness of Nigeria’s insurance industry.
The chairman observed that Orimolade assumed office at a defining period for the sector, characterised by regulatory reforms, technological innovation, changing consumer expectations, climate-related risks, financial inclusion initiatives and the growing demand for sustainable risk management solutions.
He expressed confidence that the new CIIN President would leverage his experience and strategic vision to deepen professional standards, encourage innovation and strengthen public confidence in insurance.
Jaha also urged the new President to prioritise initiatives that would expand insurance awareness, embrace digital transformation, strengthen professional education, empower young insurance practitioners and promote research on emerging risks.
“The future of the industry depends greatly on visionary leadership that can bridge tradition with innovation while maintaining the highest standards of professionalism and integrity,” he said.
He described the investiture as more than a leadership transition, saying it represented a renewed commitment to advancing the ideals upon which the Chartered Insurance Institute of Nigeria was founded.
Jaha expressed optimism that under Orimolade’s leadership, the Institute would consolidate its position as one of Africa’s leading professional insurance bodies while making greater contributions to the growth and development of Nigeria’s insurance industry.
He wished the new CIIN President a successful and impactful tenure marked by innovation, collaboration and excellence for the benefit of the profession, the industry and the nation.
