How Sunday Thomas gave West Africa College of Insurance Supervisors

Sunday Thomas

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Chuks Udo Okonta

If not for the determination exhibited by Nigeria’s Commissioner for Insurance, Sunday Thomas, the College of Insurance Supervisors of the West African Monetary Zone (CISWAMZ) would have still remained a dream, Inspenonline has learnt.

It was gathered that the desire to establish the College of Insurance Supervisors of the West African Monetary Zone dated back many years ago, but there was no progress made until the present Commissioner for Insurance, Nigeria and the Chairman of the West African Insurance Supervisors Association (WAISA), Sunday Thomas, took over the mantle of the WAISA’s leadership.

The Chairman of CISWAMZ, Pius Agboola, who disclosed this at the second meeting of the College in Abuja, noted that Thomas is a goal getter and great achiever. “He is highly diligently, pro-active and with him, nothing is impossible. Therefore, on behalf of my Colleagues, I wish to appreciate you sir for this noble achievement,” he submitted.

Agboola also appreciated other Commissioners of WAISA, whom without their support, the noble achievement of establishing the College would not have been achieved, stressing that
the role played by the Secretariat of WAMI in harmonizing the idea and perfecting the set-up of the College cannot be over emphasised.

He noted that the hosting of the regional Risk Based Supervision (RBS) by NAICOM and Toronto Centre, Canada in February, 2022 has enriched participants understanding of the Risk Based Supervision and / or Risk Based Capital, adding that Nigeria would be glad to share the RBS framework for insurers and reinsurers in Nigeria with member states.

“I wish to assure you that NAICOM, Nigeria is ready and available to assist any member state in developing their RBS frame work, RBS manual and for knowledge sharing,” he posited.

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