The National Insurance Commission (NAICOM) has concluded a recapitalisation exercise, but its appointment of receivers and liquidators for failed insurance firms has led to court actions. The current leadership, under Commissioner Olusegun Ayo Omosehin, has pursued a conclusive recapitalisation after previous attempts were inconclusive. The Nigerian Insurance Industry Reform Act (NIIRA) has provided a framework for these actions, but legal challenges have arisen.
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