By John Edet, Lagos
The Federal Government has approved the appointment of Sunday Thomas as the Acting Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM).
This is pending the appointment of a substantive head for the regulatory body.
This was contained in a statement signed by the Deputy Director, Home Finances, Mr. A. O. Bello, for the Permanent Secretary of the Ministry of Finance.
The statement reads: “I am directed to refer to a letter referenced NAICOM/FMF/DCTO/002 dated 2nd August, 2019 on the above subject and convey the approval for Mr. Sunday Thomas, Deputy Commissioner (Technical) to oversee the affairs of the Commission, pending the appointment of a substantive Commissioner for Insurance by Mr. President.
“This is to ensure the effective administration of the Commission in line with the provisions of the National Insurance Commission Act (1997).”
Thomas, until his appointment, served the commission as the Deputy Commissioner (Technical) during the tenure of Kari. He was appointed in April 2017 after a 17 years stint at the commission, working in and heading the inspectorate unit before his exit on appointment as the Director-General, Nigerian Insurers Association (NIA) on May 1, 2010. He was the NIA’s DG for seven years.
Prior to his first experience at the commission, he had worked in the insurance industry for over 10 years during which he rose to the position of an assistant general manager at AIICO Insurance Plc before he left in 1992.
Thomas formal appointment in Acting Insurance Commissioner capacity came as the industry operators harmonise their positions on the likely successor to Kari.
Presently, the industry operators are considering who to support among some candidates that have emerged as contenders for the NAICOM plum position. They are Odunayo Modupe Banmeke, the General Manager, Insurance, Nigerian National Petroleum Corporation who is being supported by those who claimed to be ‘elders’ in the sub-sector.
Others are Mohammed Hussein, the current managing director of NICON Insurance, YemiSoladoye, managing director of Riskguard Africa Nigeria Limited.