Former and Late President Muhammadu Buhari, GCFR
The National Insurance Commission (NAICOM) and stakeholders in Nigeria’s insurance industry have expressed deep sorrow over the passing of former President Muhammadu Buhari, GCFR, describing him as a leader whose tenure significantly advanced the growth and credibility of the sector.
In a condolence statement issued in Abuja, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, described Buhari’s death as a profound loss, not just to his family and close allies, but to the entire nation.
“On behalf of the National Insurance Commission and the Nigerian insurance industry, I extend our deepest condolences to the family, friends, and the good people of Nigeria,” Omosehin said.
He highlighted that during his time in office, the former president demonstrated “unwavering commitment” to strengthening the insurance sector, underscoring his administration’s broader economic reform agenda.
“His leadership had a lasting impact on the nation’s economic landscape, particularly in reinforcing the relevance of insurance as a key driver of financial inclusion and risk protection,” he added.
Industry experts credit Buhari’s administration with introducing policies that enhanced regulatory frameworks, encouraged wider insurance penetration, and supported the role of insurance in national development.
Omosehin noted that Buhari’s legacy—rooted in discipline, resilience, and public service—would continue to inspire professionals across the financial services ecosystem.
“As we mourn his passing, we also celebrate a life of service and dedication. May his legacy continue to guide our steps as we work toward building a resilient and prosperous Nigeria. May his soul rest in peace,” the statement concluded.
The former president, who served from 2015 to 2023, is remembered for his commitment to institutional reforms and efforts to stabilize Nigeria’s economy amidst global and local challenges.
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