Nigeria’s Insurance regulator, NAICOM has issued an operational license to CBI Partnering Insurtech Ltd, making it the first fully licensed partnering insurtech in Nigeria. The license was handed over at a formal ceremony where the Commission reiterated its focus on promoting innovation within a regulated, consumer-centered insurance framework.
Deputy Commissioner for Insurance, Finance and Administration Ekerete Ola Gam-Ikon said NAICOM is working to bring Nigeria’s insurance sector in line with global standards, citing the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and the Commission’s insurtech guidelines as key drivers of change. He stressed that encouraging innovation while maintaining strong governance and policyholder protection is a central priority. The license was issued with strict conditions to ensure regulatory and ethical compliance, reflecting growing international recognition of Nigeria’s technology-led regulatory approach.
Presenting the license, Mr. Ekerete said the move demonstrates NAICOM’s commitment to responsibly fostering innovation and urged CBI Partnering Insurtech to uphold high governance and ethical standards.
CBI’s Managing Director, Suleiman Olalekan Ajani, thanked NAICOM and said the regulatory framework will help the company expand partnerships and offer tech-driven insurance solutions that emphasize trust, transparency, and consumer protection.
