Omosehin Reaffirms NAICOM’s Commitment to Takaful, Urges Noor Takaful to Expand Reach Ahead of 10th Anniversary

NAICOM Backs Takaful Expansion as Noor Takaful Marks Decade of Growth, Deepens Financial Inclusion Drive

L-R:Dr. Usman Jankara Jimada,Deputy Commissioner Technical, National Insurance Commission; Amb. Shuaibu Ahmed, Chairman, Noor Takaful Insurance Company Limited; Mr. Olusegun Ayo Omosehin, Commissioner For Insurance, National Insurance Commission; and Mr. Ekerete Ola Gam-Ikon, Deputy Commissioner Finance and Administration, National Insurance Commission.

The National Insurance Commission (NAICOM) has reaffirmed its commitment to accelerating the growth of Takaful and microinsurance in Nigeria, describing both segments as critical to expanding financial inclusion and extending insurance protection to millions of underserved Nigerians.
The assurance was given by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, during a courtesy visit by the Board and Management of Noor Takaful Insurance Limited, led by the company’s Chairman, Ambassador Shuaibu Ahmad, ahead of the firm’s 10th anniversary.
Omosehin congratulated Noor Takaful on its achievements over the past decade and commended the company’s contribution to the development of Nigeria’s non-interest insurance market.
He challenged the company’s leadership to build on its successes by expanding its market presence, developing innovative products that meet the changing needs of customers, and intensifying public awareness campaigns to improve understanding and acceptance of Takaful insurance across the country.
The Commissioner stressed that increasing insurance penetration remains a key priority for NAICOM and noted that Takaful and microinsurance have significant potential to provide affordable and culturally acceptable financial protection for individuals, families, and small businesses that remain outside the conventional insurance market.
As Noor Takaful prepares to celebrate its 10th anniversary, Omosehin encouraged the company to deepen customer education and outreach efforts, saying greater awareness would help unlock the enormous opportunities within Nigeria’s underserved insurance market.
He reiterated NAICOM’s resolve to continue creating an enabling regulatory environment that supports innovation, strengthens consumer confidence, and promotes sustainable growth across all segments of the insurance industry.
During the meeting, both NAICOM and Noor Takaful expressed confidence in strengthening their partnership to advance trust, innovation, and inclusive insurance, with the shared goal of making insurance more accessible to every Nigerian.
The renewed commitment underscores the growing importance of Takaful and microinsurance as strategic pillars for boosting insurance penetration and achieving broader financial inclusion in Nigeria. :::
NAICOM, Noor Takaful, Takaful Insurance Nigeria, Olusegun Ayo Omosehin, Financial Inclusion, Microinsurance, Nigerian Insurance Industry, Noor Takaful 10th Anniversary.
NAICOM Commissioner for Insurance Olusegun Ayo Omosehin has reaffirmed the Commission’s commitment to growing Nigeria’s Takaful and microinsurance sectors, urging Noor Takaful to expand innovation and financial inclusion as it approaches its 10th anniversary.