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NAICOM Seeks to Commence Compulsory Insurance Implementation With FG Assets 

todayAugust 8, 2022

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Ebere Nwoji

The National Insurance Commission (NAICOM) is seeking for federal government’s support to commence implementation of compulsory insurance with federal government assets all over the country.

The commission during a recent courtesy visit to the Secretary to the government of the federation (SGF) Boss Mustapha, pleaded with the SGF to mandate government ministries, department and agencies (MDAs) to compulsorily  insure government assets under their purview.

Chairman, Governing Board of NAICOM, Dr. Abubarkar Sani, who stated these during the visit pleaded with the SGF to support the commission in executing compulsory insurance scheme for all MDAs.

According to him, the commission is interested in seeing all government assets insured, “we want the SGF to issue a circular or letter to all MDAs on the necessity of compulsory insurance.”

In his response, the SGF, represented by the Permanent Secretary, General Services Office (GSO), Dr. Maurice Mbaeri, requested the commission to come up with a draft document of what the commission wanted the Circular to contain to guide the office of the SGF to be properly articulated in the circular.

According to him, “send a draft copy of the circular to the SGF, after the review a circular will be released to the MDAs.”

Mbaeri, decried the decline in budgetary allocation meant for insuring public assets.

He said  there was no way the HoS alone could cover insurance premium for all the MDAs.

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