In his remarks at the inauguration in Abuja the Commissioner
for Insurance and Chief Executive Officer of the National Insurance Commission
(NAICOM) Mr. Sunday Thomas recalled that sequel to the need to enhance
involvement of the Nigerian insurance industry in the activities of the
National Action Committee on African Continental Free Trade Area (NAC AfCFTA),
“it was resolved at the 9th Meeting of the Insurers’ Committee held on 1st of
July 2021 that each arm of the Nigerian insurance industry should nominate experienced
representatives to participate on the relevant Workstream of the National
Action Committee on AfCFTA (NAC-AfCFTA).”
According to him, the terms of reference of the committee
include the following:
i) Coordinate and articulate the Nigerian insurance
industry’s response to AfCFTA Agreement and its implementation.
ii) Develop and
ensure implementation of measures to ensure that the industry effectively
exploits the benefits of AfCFTA.
iii)Develop and ensure implementation of measures to protect
the Nigerian insurance industry from being negatively impacted by AfCFTA.
iv)Engage and/or liaise with relevant bodies and agencies
such as the National Action Committee on AfCFTA, Nigerian Office for Trade
Negotiations on implementation of the AfCFTA Agreement and any such body, among
others.
v) Lead bilateral negotiations with any interested State
Party regarding the Nigerian insurance sector.
vi) Regularly consult with relevant stakeholders to ensure
that positions or views canvassed are reflective of the interest of the Nigerin
insurance industry.
vii) Attend relevant meetings, seminars, workshops,
conferences, etc and articulate the Nigerian insurance industry’s views on
AfCFTA.
viii) Submit regular updates/reports regarding developments
on AfCFTA and activities of the Committee to NAICOM.
ix) Carry out such other relevant activity(s) that the
Committee may consider beneficial to the Nigerian insurance industry in respect
of AfCFTA implementation.
The Commission has already informed the National Action
Committee on AfCFTA of the constitution of the Committee including the
membership and Terms of Reference of the Committee, he said.
“We have also enjoined the National Action Committee on
AfCFTA to collaborate with the Committee on matters relating to the
implementation of the AfCFTA Agreement in order to ensure that it is done in
the overall interest of the Nigerian insurance industry.
“It is noteworthy to restate that your appointment into this
Committee is in recognition of your vast experience, track record of selfless
service and dedication to the cause of the Nigerian insurance industry, which
the Industry believes will aid attainment of the mandate of the Committee which
is to ensure beneficial implementation of the AfCFTA.
The 15-man committee is chaired by Mrs. Ekeoma Esther Ezeibe
with Mr. Lanre Ojuola as secretary.
Other members include Mr. Tunde Hassan-Odukale (NIA); Mrs.
Funmi Omo (NIA); Mrs. Yetunde Ilori (NIA); Mr. Shola Ajibade (PRAN); Mr. Sina
Elusakin (NCRIB); Mr. Eric Omozejele (NCRIB) and Mrs. Bimbo Onakomaiya (NCRIB).
The rest are, Mr. Bola Temowo (ILAN); Pst. Ikechukwu Udobi
(ILAN); Chief Lebi Omoboyowa (ILAN); Mr. Usman Jankara (NAICOM); Mr. Taiwo
Adeoye (NAICOM) and Mr. Ahmed Metteden (NAICOM).