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RMAFC Pays Working Visit To Insurance Commission.

by Bisi Bamishe
May 16, 2024
in Insurance
RMAFC Pays Working Visit To Insurance Commission.

From Left: Engr. Mohammed Sani Baba (RMAFC Commissioner Rep Bauchi State); Commissioner for Insurance/CEO Mr. Olusegun Ayo Omosehin and Alh. Abubakar Sadiq A. Gusau (RMAFC Commissioner Rep Zamfara State)

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By Bisi Bamishe

The members of the Constitutional Committee on “Mobilisation and Diversification” of the Revenue Mobilisation Allocation and Fiscal Commission, led by Engr. Sani Mohammed Baba, paid working visit to the National Insurance Commission recently.

From Left: Engr. Mohammed Sani Baba (RMAFC Commissioner Rep Bauchi State); Commissioner for Insurance/CEO Mr. Olusegun Ayo Omosehin and Alh. Abubakar Sadiq A. Gusau (RMAFC Commissioner Rep Zamfara State)

The Commissioner for lnsurance, Olusegun Ayo Omosehin, in his welcome remarks, reaffirmed the critical role of the insurance sector regulator in supervising, regulating, and safeguarding the interests of insurance policyholders.

He highlighted insurance’s pivotal role in mobilising savings for long-term developmental projects and enabling businesses to thrive while managing risks effectively. He also stressed the Commission’s commitment to ensuring insurance companies meet their obligations, thus contributing to the sustainability of the economy.

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Engr. Sani Mohammed Baba emphasised the importance of revenue generation, institutional expansion, and employment creation for Nigerians through collaborative efforts.

The Commissioner for Insurance also acknowledged President Bola Ahmed Tinubu GCFR’s ambitious goal of growing the Nigerian economy to One Trillion United States Dollars ($1 trillion) by 2026. He expressed the insurance sector’s intent to significantly contribute to this objective. Additionally, he mentioned ongoing efforts to embed insurance within the National Credit Scheme to ensure its sustainability.

In closing, Mr. Omosehin highlighted the need for continuous advocacy and sensitization of government institutions about the vital role of insurance in national economic development.

The primary agenda was to explore collaborative opportunities to advance the diversification of the Nigerian economy.

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Bisi Bamishe

Bisi Bamishe

I am a journalist with many years of experience in the field of Insurance and Pension. In 2003, I won Nigeria Media Merit Award of the IGI's Prize For Insurance Reporter of The Year

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