The relocation of National Insurance Commission (NAICOM) Inspectorate Department from its headquarters in Abuja to Lagos has created a problem between its management and workers.
Though its Head of Corporate Affairs, Rasaaq’ Salami, has explained that the comission meant well by the relocation aimed at ensuring effective and regular inspection of insurance entities, the workers think otherwise.
The workers, who have embarked on a protest over the issue, claimed that the relocation was targeted at their leader.
The union have shut the Commission’s headquarters and prevented access into the building. As at press time, the union was reportedly meeting with the management of NAICOM to resolve the issue.
Speaking with reporters in Lagos, Salami pointed out that the Central Bank of Nigeria’s (CBN’s) Banking Supervision Department is in Lagos, adding that this was so because most banks’ headquarters are in Lagos.
Highlighting benefits of the Inspectorate Department in Lagos, he said over 95 percent of insurance firms are also in Lagos.
He said there were also cost-benefits of the department being sited in Lagos.
Salami explained that aside from the Commission’s achieving quick and better service delivery, it had also created proximity to operators allowing quicker response time, among others.
He said: “The relocation of NAICOM Inspectorate Directorate from the head office in Abuja to the Lagos Control office is for better service delivery to stakeholders. The relocation is part of an ongoing restructuring aimed at improving efficiency of the workforce and bringing the Commission closer to the regulated entities for effective insurance industry supervision.
“For the records, the Directorate is saddled with conducting on-site inspection of insurance entities for the Commission. It is imperative to note that over 90 per cent of insurance operators are headquartered in Lagos being the hub of commercial and economic activities in the country. Thus, this exercise will ensure prompt and regular inspection of these insurance firms – Insurance Companies and Brokers.
“The insurance industry operators are enjoined to take advantage of this proximity to the Inspectors to enjoy quicker and efficient service delivery from the Regulator,” he added.
