NAICOM, NCAA partner to strengthen aviation insurance oversight

The National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA) have joined forces to bolster regulatory oversight and enhance compliance with aviation insurance mandates throughout Nigeria's aviation industry. The Memorandum of Understanding (MoU) was signed on Wednesday by Capt. Chris Najomo, Director-General of Civil Aviation, and Olusegun Ayo Omosehin, Commissioner for Insurance at NCAA.

This agreement comes on the heels of the completion of Nigeria's insurance industry recapitalization program under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. Najomo highlighted that the MoU aims to bolster aviation safety, financial resilience, and regulatory adherence, while emphasizing the role of aviation insurance in protecting lives, property, businesses, and the economy.

The partnership, forged following extensive collaboration between NCAA and NAICOM, particularly focused on evaluating the sufficiency and validity of insurance policies held by aviation operators, aligns with the provisions of the Nigeria Civil Aviation Regulations (Nig. CARs) 2023. NAICOM's Commissioner for Insurance, Olusegun Omosehin, underscored the MoU as a significant milestone in fortifying the safety, sustainability, and integrity of Nigeria's aviation sector.