NAICOM Announces Promotions of Rasaaq Salami and Four Others to Director Roles, Along with Organizational Restructuring

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The Governing Board of the National Insurance Commission (NAICOM) convened on 21 June 2024 and approved significant advancements in both personnel and organizational structure, aimed at bolstering operational efficiency and strategic alignment.

Following a rigorous promotion exercise held on 27th March 2024, the Board elevated five staff members to the esteemed position of Director within the Commission. The newly appointed Directors and their respective portfolios are as follows:

1. Mr. Ajibola Bankole – Director, Inspectorate
2. Mr. Ahmad Ibrahim Adamu – Director, Innovation & Regulation
3. Dr. Talmiz Usman – Director, Legal, Enforcement & Market Development
4. Mr. Kamaludeen Barde – Director, Finance & Accounts
5. Mr. Rasaaq Salami – Director, Human Resources & Administration

This decision underscores NAICOM’s commitment to recognizing and empowering talented individuals who have demonstrated exceptional leadership and commitment to the Commission’s mission.

In addition to the personnel changes, the Governing Board also approved an updated organizational structure designed to enhance the Commission’s efficiency, effectiveness, and adaptability in a rapidly evolving regulatory environment. The restructuring aligns closely with NAICOM’s strategic goals and aims to facilitate optimal performance across all functional areas.

The revised structure introduces new directorates within NAICOM, reflecting the evolving priorities and challenges in the insurance sector:

1. Inspectorate
2. Supervision
3. Market Conduct & Complaint Bureau
4. Innovation and Regulation
5. Legal, Enforcement & Market Development
6. Human Resources & Administration
7. Finance & Accounts
8. Technology, Strategy & Research

These directorates will play pivotal roles in overseeing key facets of NAICOM’s operations, ensuring regulatory compliance, fostering market stability, and promoting consumer protection within the insurance industry.

The organizational enhancements and leadership appointments signify NAICOM’s proactive approach to governance and strategic management, positioning the Commission to effectively fulfill its mandate and uphold standards of excellence in insurance regulation.


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