The Minister of Finance, Mrs. Kemi Adeosun, has urged the National Insurance Commission (NAICOM) to rid itself of bad eggs in the industry and improving its services to its consumers if the industry must be positioned to contribute positively to the Gross Domestic Product (GDP) and creation of employment in the country.
Mrs. Adeosun on Friday made the call on the industry in Abuja at a retreat marking the five years of NAICOM’s existence, where she was represented by the Director, Home Finance in the Ministry, Alhaji Kari Zakji, urging the Commission to rise up to its responsibilities and explore untapped potentials.
She said, “The insurance industry needs to be positioned to contribute positively to the Gross Domestic Product (GDP) and creation of employment.”
“NAICOM can help achieve this by cleansing itself of the bad eggs within itself and by improving its services to its consumers. NAICOM as an organisation will be expected to make efficient use of the financial and non-financial resources available to it.
“In this regard, my ministry will be looking to see a strategic, efficient and effective allocation and use of public resources.”
The Minister urged NAICOM to use the retreat to come up with a strategic master plan to strengthen and restructure the insurance industry.