{ "archive_path": "archive/1789034643.691953", "base_url": "thenationonlineng.net/naicom-ncaa-tighten-aviation-insurance-oversight", "basename": "", "bookmarked_date": "2026-09-10 10:04", "canonical": { "archive_org_path": "https://web.archive.org/web/thenationonlineng.net/naicom-ncaa-tighten-aviation-insurance-oversight", "dom_path": "output.html", "favicon_path": "favicon.ico", "git_path": "git/", "google_favicon_path": "https://www.google.com/s2/favicons?domain=thenationonlineng.net", "headers_path": "headers.json", "htmltotext_path": "htmltotext.txt", "index_path": "index.html", "media_path": "media/", "mercury_path": "mercury/content.html", "pdf_path": "output.pdf", "readability_path": "readability/content.html", "screenshot_path": "screenshot.png", "singlefile_path": "singlefile.html", "warc_path": "warc/", "wget_path": "thenationonlineng.net/naicom-ncaa-tighten-aviation-insurance-oversight/index.html" }, "domain": "thenationonlineng.net", "extension": "", "hash": 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"/app/node_modules/readability-extractor/readability-extractor", "/tmp/tmp0bncvi5k", "https://thenationonlineng.net/naicom-ncaa-tighten-aviation-insurance-oversight/" ], "cmd_version": "0.0.11", "end_ts": "2026-09-10T16:23:28.047221+00:00", "index_texts": [ "September 9, 2026 by \n and Priscilla Ezumah \n \n\n \n \n\n \n \n \n \n \n \n\n\n\n \n \n \nThe National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA) have moved to tighten oversight of aviation insurance in Nigeria by establishing a Joint Technical Committee to review insurance requirements, verify operators\u2019 cover, and promote greater information sharing between the two regulators.\n\n\n\nThe committee, established under a Memorandum of Understanding (MoU) signed by the two agencies in Abuja on Wednesday, will also address operational challenges, coordinate engagement with industry stakeholders and support capacity building for regulators and aviation operators.\n\n\n\nThe new arrangement is expected to provide a stronger regulatory framework to ensure that insurance policies maintained by airlines and other aviation operators are adequate, valid, and capable of responding to the risks associated with air transport.\n\n\n\nSpeaking at the signing ceremony, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Ayo Omosehin, said the partnership would deepen cooperation between the two regulators and create a more coordinated system for compliance, risk protection and information sharing.\n\n\n\nHe said the agreement was important because aviation insurance goes beyond meeting a regulatory requirement, describing it as an essential risk management tool for protecting lives, property, businesses and the wider economy.\n\n\n\nAccording to him, the nature of aviation operations makes it necessary for regulators to work together to ensure that insurance arrangements supporting the sector remain adequate and responsive to emerging risks.\n\n\n\nUnder the new framework, NAICOM will provide regulatory oversight and technical expertise on insurance matters, including verifying aviation insurance arrangements and providing information on licensed insurers authorised to underwrite aviation risks.\n\n\n\nThe Commissioner said the Joint Technical Committee would serve as the \u201cengine room\u201d for implementing the MoU\u2019s objectives.\n\n\n\nHe said the committee would facilitate information exchange between the agencies, conduct periodic reviews of insurance requirements, tackle operational challenges, coordinate stakeholder engagements, and promote capacity building for regulators and industry participants.\n\n\n\nOmosehin assured the NCAA of NAICOM\u2019s commitment to providing the technical support the committee needs to carry out its responsibilities effectively.\n\n\n\nThe Commissioner said NAICOM was particularly encouraged by provisions covering information exchange, joint stakeholder engagement, training and the periodic assessment of insurance cover maintained by operators within the aviation ecosystem.\n\n\n\nHe said these measures would improve regulatory effectiveness and strengthen stakeholder confidence.\n\n\n\nThe development is significant for an aviation industry where accidents and other operational incidents can expose airlines, passengers, financiers, lessors, service providers and third parties to potentially substantial financial liabilities. Related News NCAA, NAICOM sign pact to boost aviation insurance, investor confidence 37-year-old Nigerian woman missing in Doha found safe, reunited with family Missing Nigerian woman: NCAA, Qatari agencies widen search \n\n\n\nThe Commissioner said the partnership was therefore not limited to regulatory compliance but was \u201cfundamentally about protecting policyholders, safeguarding air travellers and third parties, creating economic value and strengthening investor confidence in Nigeria\u2019s aviation ecosystem.\u201d\n\n\n\nHe said compulsory aviation liability insurance remains an important safeguard for air travellers and other users of aviation services because it provides assurance that compensation would be available where there is a legally established liability.\n\n\n\n\u201cInsurance provides critical financial protection to passengers, airlines, financiers, lessors, service providers, and members of the public by ensuring that legitimate liabilities, accidents, and losses are promptly and fairly addressed when they arise,\u201d the NAICOM boss said.\n\n\n\nMr. Olusegun Ayo Omosehin said a strong aviation insurance system could also promote public confidence in air transportation, support business continuity, facilitate investment and improve access to financing.\n\n\n\nHe linked the initiative to the Federal Government\u2019s ambition of building a $1 trillion economy by 2030, saying effective risk management and strong insurance protection would be important to investment, enterprise, consumer protection and sustainable economic growth.\n\n\n\nThe Director-General of the NCAA, Captain Chris Najomo, said the MoU represented the culmination of years of cooperation between the two institutions and would strengthen aviation safety, financial resilience, regulatory compliance and protection of the travelling public.\n\n\n\nNajomo said aviation was a \u201cparadoxical industry\u201d because, although it is globally recognised as the safest mode of transportation, it is also characterised by operational risks that can produce severe financial consequences.\n\n\n\nHe said the NCAA\u2019s statutory responsibility for aviation safety needed to be complemented by a strong, verifiable insurance framework. \u201cAviation safety must be supported by adequate financial protection. This partnership provides a stronger institutional framework for achieving both,\u201d he said.\n\n\n\nThe NCAA Director-General disclosed that NAICOM had for several years provided expert assessments of the adequacy and viability of insurance policies procured by aviation operators in compliance with Part 18.14 of the Nigeria Civil Aviation Regulations 2023.\n\n\n\nThe new agreement, he said, would take that cooperation to a higher level by providing a more structured framework for collaboration between the two regulators.\n\n\n\nNajomo said the objective was not simply to punish or enforce compliance but to create a balanced regulatory environment in which aviation safety and financial protection reinforce each other.\n\n\n\nHe said the collaboration would promote sustainable insurance practices, reduce avoidable regulatory and operational challenges and support the long-term growth and resilience of Nigeria\u2019s aviation industry.\n\n\n\n \n\n \n \n\n \n \n\n \n \ud83d\udce2 ADVERTISEMENT DISCLAIMER: Links above are sponsored posts. The Nation assumes no liability or responsibility for the claims, products, or services offered by third-party advertisers. Proceed with discretion.\n\nAbuja doctor reveals a unique way to permanently cure weak erection, small and shameful manhood, and infertility issues without side effects within a short period. Click now to see!!\n\nNEWS UPDATE: Nigerians can now earn as much as $15,000- $25,000 with premium domains. You decide if you want payment in Naira or US Dollars. Be sure to ask for evidence and proof of people benefitting daily from this. CLICK HERE TO START.\n\n \n \n \n Stay informed and ahead of the curve! Follow The Nation Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don't miss a headline \u2014 join now!\n \n \n Join The Nation Channel\n \n \n\n \n \n \n Get instant breaking news and exclusive updates right on your feed! 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