The National Insurance Commission, NAICOM has appointed Mrs. Ekeoma Esther Ezeibe as the chairman of a 15-man committee to exploit the benefits of African Continental Free Trade Area (AfCFTA).
The Commissioner For Insurance, Sunday Olorundare Thomas who inaugurated the insurance industry committee on AfCFTA Ezeibe represents the Nigeria Council of Registered Insurance Brokers, NCRIB, while Mr. Lanre Ojuola, from the Nigerian Insurers Association, NIA, has been made the Secretary.
Other members of the committee include: Tunde Hassan-Odukale, Mrs. Funmi Ọmọ, and Mrs. Yetunde Ilori, who are representatives of the Nigerian Insurers Association (NIA), Mr. Shola Ajibade (representative of Professional Reinsurers Association of Nigeria (PRAN), while Mr. Sina Elusakin, Mr. Eric Omozejele, Mrs. Bimbo Onakomaiya are the representatives of Nigerian Council of Registered Insurance Brokers (NCRIB).
Other are: Bola Temowo, Pastor Ikechukwu Udobi, Chief Lebi Omoboyowa represents Institute of Loss Adjusters of Nigeria (ILAN) while Mr. Usman Jankara, Mr. Taiwo Adeoye, Mr. Ahmed Metteden are representatives from NAICOM.
The committee is saddled with the responsibility to engage or liaise with relevant bodies and agencies such as the National Action Committee on AfCFTA, Nigerian Office for Trade Negotiations on implementation of the AfCFTA Agreement and any such body.
Lead bilateral negotiations with any interested State Party regarding the Nigerian insurance sector.
Besides, they are expected to regularly consult with relevant stakeholders to ensure that positions or views canvassed are reflective of the interest of the Nigerian insurance industry.
Members of the committee are further mandated to attend relevant meetings, seminars, workshops, conferences, etc and articulate the Nigerian insurance industry’s views on AfCFTA, submitting regular updates/reports regarding developments on AfCFTA and activities of the Committee to NAICOM and to develop and ensure implementation of measures to ensure that the industry effectively exploits the benefits of AfCFTA, as well as develop and ensure implementation of measures to protect the Nigerian insurance industry from being negatively impacted by AfCFTA.
The NAICOM boss said the terms of reference of the Committee include: To coordinate and articulate the Nigerian insurance industry’s response to the AfCFTA Agreement and its implementation which is in furtherance of the insurance operators’ resolve to ensure that they do not only respond appropriately to developments in the larger society, but to also ensure that the insurance operators are united in their responses to these developments.