Students won’t be used to undermine insurance sector reforms says NANS

The National Association of Nigerian Students (NANS) has affirmed its commitment to the ongoing reforms in Nigeria's insurance industry, saying students will not be exploited to undermine these efforts. In a statement, NANS’ National President, Akinteye Babatunde, rejected allegations against the National Insurance Commission (NAICOM) and campaigns aimed at discrediting it.

The students' body reviewed NAICOM’s operations, reforms, and achievements and found no credible basis for the claims. NANS emphasized that students are not tools for advancing narrow interests but stand for truth, transparency, reform, and progress. The recapitalisation of the insurance sector, which followed the enactment of the Nigerian Insurance Industry Reform Act 2025, was described as crucial to strengthening insurers, improving their capacity to meet claims, and enhancing public confidence in the sector.

NANS endorsed the implementation of the new law, praising NAICOM’s leadership and the commission’s commitment to prompt claims settlement and zero-tolerance towards non-payment of genuine claims. The association also commended insurance companies complying with new capital requirements, highlighting that stronger capitalisation would improve insurers' ability to support businesses, protect investments, and settle legitimate claims.