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By Henry Uche, [email protected] 08032741427
NAICOM, in partnership with the Nigerian Financial Intelligence Unit (NFIU), is actively enhancing the integrity and regulatory resilience of Nigeria’s financial system. The collaboration, spotlighted during a recent visit by NFIU Chief Executive Officer, Hafsat Abubakar Bakari and her team to NAICOM’s Abuja headquarters, underscores their shared dedication to reinforcing financial regulations.
Mr. Olusegun Ayo Omosehin, Commissioner for Insurance and CEO of NAICOM, expressed sincere appreciation for the productive collaboration, emphasizing its significant impact on regulatory adherence. He commended NFIU for its pivotal role in bolstering institutions’ compliance with Financial Action Task Force (FATF) standards, particularly in Anti-Money Laundering and Counter Financial Terrorism (AML/CFT) protocols.
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Omosehin highlighted joint initiatives such as collaborative inspections, specialized training programs, and comprehensive awareness campaigns, which have measurably raised compliance standards across the insurance sector. Emphasizing the ongoing need for rigorous training and effective oversight, he underscored their critical role in maintaining the integrity of Nigeria’s financial landscape.
In response, Mrs. Hafsat Abubakar Bakari reiterated NFIU’s central position as Nigeria’s principal agency for receiving, analyzing, and disseminating financial intelligence. She underscored the collaborative efforts aimed at strengthening partnerships with financial entities to bolster Nigeria’s global stature and effectiveness in AML/CFT frameworks.
Moreover, in a proactive step to address stakeholder concerns, NAICOM has launched a dedicated complaints management portal (complaints.naicom.gov.ng). This accessible platform is designed to expedite the resolution of insurance-related issues, ensuring swift responses to policyholder grievances. NAICOM encourages the public to utilize the portal effectively, demonstrating their unwavering commitment to transparent and efficient service delivery within the insurance sector.
