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Chuks Udo Okonta
The National Insurance Commission (NAICOM) in a bid to totally ring-fenced Retiree Life Annuity (RLA) funds, giving adequate protection to annuitants, will soon issue comprehensive supplementary guidelines.
The Managing Director NSIA Insurance Limited Moruf Apampa, who is also a member of Communication & Stakeholder Engagement Sub-Committee, Insurers Committee disclosed this today at a press conference held after the June 2025 Insurers’ Committee meeting in Lagos.
He noted that the supplementary guidelines and other measures taken by NAICOM are geared towards protecting annuitants and other policyholders.
According to him NAICOM is also working on cyber risk guidelines, stating the commission is working assiduously to reposition the industry.
Apampa submitted that NAICOM and operators are now fully committed to prompt settlement of genuine claims, adding that the Commissioner for Insurance Olusegun Omosehin at the meeting expressed satisfaction with the level of improvement in claims payment.
