NAICOM Strengthens Ties with BPP to Promote Transparency, Efficiency in Public Insurance

L-R: Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, paid a working visit to the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale A. Adedokun to discuss the need for deeper collaboration between NAICOM and BPP at his office in Abuja.

In a strategic move to reinforce inter-agency collaboration and uphold regulatory integrity, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, paid a working visit to the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale A. Adedokun, at the BPP headquarters in Abuja.
The high-level engagement was centered on deepening cooperation between NAICOM and BPP, in line with the Commission’s broader objective to foster synergies with sister agencies across the public sector. During the meeting, Mr. Omosehin emphasized NAICOM’s unwavering commitment to transparency, accountability, and fairness in all interactions with partner institutions.
“We recognize that robust inter-agency collaboration is critical to promoting efficiency and trust in public institutions. NAICOM, under my leadership, remains committed to strict adherence to claims, solvency requirements, and all regulatory standards,” Mr. Omosehin remarked. He also expressed profound appreciation for the continuous support of the BPP leadership, noting that all insurance matters would be handled in full compliance with the laws of the Federal Republic of Nigeria.
A significant portion of the discussions focused on the implementation of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which aims to modernize the insurance sector, enhance regulatory oversight, and ensure greater protection for policyholders nationwide. The Commissioner highlighted that successful implementation would require seamless coordination with procurement authorities to ensure that insurance practices across government agencies meet the highest standards of accountability.
In response, Dr. Adebowale A. Adedokun lauded the visit as a positive step toward consolidating inter-agency partnerships. He assured that the BPP remains committed to fostering close collaboration with NAICOM and pledged to make a reciprocal visit to the Commission’s headquarters in the near future.
Dr. Adedokun also underscored the importance of continued stakeholder engagement, urging all relevant agencies to strengthen cooperation, enhance efficiency, and maintain public trust in the procurement and insurance sectors. “Synergy between regulatory and procurement bodies is essential for promoting accountability and ensuring that public resources are managed responsibly,” he said.
Industry experts have welcomed the engagement, noting that such high-level dialogues signal a proactive approach to reform and collaboration. Analysts suggest that this partnership could set a benchmark for other public institutions seeking to streamline processes, improve regulatory compliance, and foster a culture of transparency.
The NAICOM-BPP meeting highlights the Commission’s proactive stance in driving insurance sector reforms, promoting ethical governance, and reinforcing confidence among stakeholders in Nigeria’s financial services and public procurement landscape.
NAICOM CEO Olusegun Ayo Omosehin visits BPP Director-General Adebowale Adedokun to discuss inter-agency collaboration, implementation of NIIRA 2025, and strategies to enhance transparency, accountability, and regulatory compliance in Nigeria’s insurance and procurement sectors.