NAICOM Sets New Performance Agenda with OKR System

From left: Mr. Salami Rasaaq, Director HR & Admin (NAICOM), Mr. Ekerete Ola Gam-Ikon, Dep. Commissioner for Insurance, Finance & Admin, Elder. Aniefiok Isaac Nkom, Executive Chairman, Ikot Ekpene LGA, Dr. Usman Jankara Jimada, Deputy Commissioner for Insurance, Technical and Mrs. Oluwatoyin Charles, Director Supervision (NAICOM) at the Performance Management Workshop holding at Four Point by Sheraton, Ikot Ekpene – Akwa Ibom State

The National Insurance Commission (NAICOM) has kicked off a major shift toward regulatory excellence and performance accountability as the Deputy Commissioner (Technical), Dr. Usman Jankara, delivered a compelling opening address at the Commission’s Performance Management Workshop held in Ikot Ekpene.

Representing the Commissioner for Insurance, Dr. Jankara described the workshop as a strategic turning point designed to institutionalize a results-driven culture across NAICOM. He emphasized that building a robust performance culture is essential to achieving the Commission’s mandate of ensuring a stable, competitive, and trustworthy insurance industry.

Performance Management as the Foundation of Reform

Dr. Jankara told participants that no regulatory reform can succeed without a clear, structured performance management system. He highlighted the need for every Directorate, Department, and staff member to align with NAICOM’s long-term goals, warning that Nigeria’s insurance sector cannot progress without measurable impact and accountability at all operational levels.

“Our mission is clear: to build a safe, stable, and globally competitive insurance industry,” he said. “But without a strong performance culture, even the most ambitious reforms—including NIIRA 2025—will not achieve their intended outcomes.”

Reinforcing NAICOM’s Strategic Priorities

The Deputy Commissioner reaffirmed NAICOM’s five strategic goals, which guide the Commission’s regulatory direction:

1. Protect and empower policyholders.
2. Strengthen supervisory capacity and internal effectiveness.
3. Safeguard financial stability within the insurance ecosystem.
4. Promote innovation and sustainability in insurance products and processes.
5. Expand insurance penetration and accessibility nationwide.

He noted that these priorities are supported by transformative pillars such as governance reforms, digital innovation, risk-based supervision, and improved claims management.

NAICOM Adopts Global OKR Performance Framework

A major highlight of the workshop was the announcement of NAICOM’s adoption of the OKR (Objectives and Key Results) framework — a globally recognized system used by high-performing institutions to drive alignment and measurable impact.

According to Dr. Jankara, OKRs will help the Commission:

• Achieve alignment across all units,
• Maintain transparency in performance expectations,
• Transition from activity-focused reporting to impact-based evaluation,
• Empower staff to set measurable, realistic outcomes aligned with organizational goals.

He advised staff to integrate the SMART model into their key results and stressed that the OKR framework is designed for growth, not punishment.

Expected Outcomes: Efficiency, Transparency, Consumer Trust

Dr. Jankara outlined several anticipated outcomes from the implementation of OKRs and the workshop training, including:

• Improved regulatory efficiency through digital transformation and risk-based supervision.
• Greater consumer confidence backed by prompt and transparent claims settlement.
• Stronger alignment between departmental goals and NAICOM’s strategic direction.
• Broader insurance penetration, supporting Nigeria’s economic growth agenda.

People Are the Heart of the Reform

While outlining structural reforms, Dr. Jankara emphasized the human element, stating that NAICOM’s transformation hinges on the honesty, commitment, and integrity of its workforce.

“Culture eats strategy for breakfast,” he noted. “Our people can make or mar this institution. We must build teams driven by values, professionalism, and excellence.”

NIIRA 2025: A Pillar of Industry Stability

He described the Nigerian Insurance Industry Reform Act (NIIRA) 2025 as a landmark achievement for the sector, reiterating Management’s commitment to ensuring that the Act strengthens the regulatory environment and positions the insurance industry as a critical pillar of Nigeria’s financial system.

A Call to Action

Dr. Jankara closed with an appeal for collective responsibility, urging staff to support Management in driving the changes required to make NAICOM a benchmark for regulatory excellence in Africa.

“Reforms alone cannot deliver results,” he said. “We must embed a culture of excellence and accountability. Together, we can build the NAICOM we envision.”

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NAICOM adopts a global OKR framework as Dr. Usman Jankara leads a call for accountability and excellence at the Akwa Ibom Performance Management Workshop.