Business
NAICOM restructures, creates new directorates
The National Insurance Commission (NAICOM) has been given approval by its board for its restructuring to accommodate new directorates and state branch offices across the country.
Under the approved new structure, three more directorates were created in the commission, bringing to nine the number of directorates.
The new directorates are commissioner for insurance’ directorate, Lagos office, and legal and liquidation directorate.
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According to the commission, the supervision and inspectorate directorates had been merged into one inspectorate directorate while the authorisation and policy directorate had been split into two separate directorates, namely policy and regulation directorate and corporate governance, enforcement and compliance directorate.
A statement from the commission also noted that the restructuring exercise is part of the efforts at repositioning the commission for better service delivery, adding that it has expanded its branch network by creating 20 additional state branch offices across the six geopolitical zones.
Also, the statement revealed that the four existing zonal offices in Enugu, Ilorin, Port Harcourt and Kano have been converted to state branch offices, bringing the total number of State branches to 24.
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