The announcement was contained in a circular issued on in
ABUJA on Wednesday by the Commission, and dated August 27 and addressed to
Managing Directors and Chief Executive Officers of all insurance institutions.
The circular titled, “Adjustment of NAICOM Operations” was
signed by Director Policy and Regulations, L.M. Akah.
According to the circular, “To enhance efficient and
effective service delivery, the operations of the Commission will Go-live with
effect from Wednesday 1st September 2021.
“The import of this adjustment is that effective from 1st
September 2021, NAICOM’s operation will transit from manual to online
processing and all operational activities or issues concerning Insurance
Institutions that requires the Commission’s attention, comment and approval
will be submitted and processed via the NAICOM Licensing System.
“Consequently, all Insurance Institutions are required to
align their operations to NAICOM Portal for submission and processing of all
requests.”
NAICOM added that requests that can be submitted include
Certificate of Registration/Renewal, Approval in Principle, Product
Authorization, Micro Insurance, Takaful Insurance, Letter of Request, Financial
Statement Approval, Enforcement Actions, Governance and Complaint issues among
others.
NAICOM directed that all enquiries on the adjustment of its
operations be sent to its designated portal, portal@naicom.gov.ng.
The Commission called on all insurance companies to comply
with the stated directives.
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