- The National Insurance Commission (NAICOM) has launched the NIIRA 2025 implementation framework, appointing Shola Tinubu, Adetola Adegbayi, Dr. Yeside Oyetayo, and Bode Pedro to lead key working groups focused on compulsory insurance, digitization, and financial inclusion.
- Bode Pedro, known for his digital insurance innovation at Casava, joins the Digitization Working Group to help modernize Nigeria’s insurance ecosystem through technology-driven solutions like automated claims and digital onboarding.
- The reform agenda aims to enhance transparency, operational efficiency, and insurance accessibility, with each group tasked to develop actionable roadmaps and begin rolling out reforms before year-end.
The National Insurance Commission (NAICOM) has established a comprehensive implementation framework for the National Insurance Industry Reform Agenda (NIIRA) 2025, appointing key industry leaders, including Shola Tinubu, Adetola Adegbayi, Dr. Yeside Oyetayo, and digital insurance pioneer Bode Pedro, to drive the transformative initiative.
The commission announced the formation of three critical working groups during a high-level strategy meeting in Abuja presided over by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin.
The implementation structure features Shola Tinubu leading the Compulsory Insurance Working Group, Adetola Adegbayi chairing the Digitization Working Group, and Dr. Yeside Oyetayo heading the Financial Inclusion Working Group. Bode Pedro, Founder and CEO of Casava, brings his substantial technological expertise to the Digitization Working Group as part of the reform agenda.
Commissioner Omosehin emphasized the critical nature of the implementation phase, stating, “This strategy represents a shared responsibility to deliver results that will redefine the perception and impact of insurance in Nigeria. We must all see ourselves as partners in national development.”
The Digitization Working Group, where Pedro will contribute, holds particular significance for the reform’s broader objectives. Charged with modernizing Nigeria’s insurance regulatory ecosystem, the group will implement key digital transformation provisions outlined in the NIIRA Act 2025. Their mandate includes enhancing transparency, improving operational efficiency, and expanding insurance accessibility through digital channels.
Pedro’s inclusion in the digitization effort brings practical insurtech experience to the committee’s deliberations. His leadership at Casava has seen the platform protect over 500,000 Nigerians through fully digital processes, demonstrating the scalability of technology-driven insurance solutions. This background positions him to make meaningful contributions to discussions on automated claims processing, digital customer onboarding, and data integrity frameworks.
“This is a defining moment for the insurance industry,” Pedro commented following his appointment. “The NIIRA Act provides an opportunity to build a stronger, fairer, and more inclusive insurance system. One that leverages technology, trust, and transparency to protect every Nigerian. I’m honoured to contribute to this national transformation and help lay the digital foundation for the next decade of insurance growth,” he added.
The broader implementation framework establishes clear mandates for each working group. The Compulsory Insurance Group will strengthen enforcement of existing compulsory insurance schemes, while the Financial Inclusion Group will focus on expanding coverage to underserved populations through microinsurance and collaborative partnerships with financial institutions.
Industry observers note that the success of NIIRA 2025 hinges on effective execution across these three interconnected domains. The commissioned groups are expected to develop detailed implementation roadmaps in the coming weeks, with initial reforms anticipated to roll out before the year’s end.
