Following a landmark 21-year career in institutional finance, Rashidat Adebisi, the former Executive Director at AXA Mansard, has officially launched “The Re-Architecture Project.”

This strategic pivot aims to align Nigeria’s insurance and financial infrastructure with the federal government’s ambitious $1 trillion economy goal, positioning the sector as a critical driver of macro-economic stability.

As Nigeria navigates the complexities of the Nigeria Insurance Industry Reform Act (NIIRA 2025), Adebisi identifies this moment as a “watershed” for the industry.

She argues that the path to a trillion-dollar economy requires more than just capital, it demands a total re-architecture of how financial systems interact with the informal economy, which currently accounts for over 60% of employment in Africa.

Macro-Economic Resilience as a National Imperative

The Re-Architecture Project reframes insurance from a transactional product into the “secret sauce” of a resilient economy.

Adebisi asserts that for Nigeria to achieve its macro-economic targets, the insurance industry must bridge the massive “protection gap,” as penetration currently remains below 3% across many African markets.

Insurance as an Economic Safety Net: “Insurance is the net that allows a nation to jump higher,” Adebisi stated.

She emphasizes that every decimal point in a financial model represents a business stabilized and a future secured, providing the essential foundation for macro-economic growth.

Infrastructure Beyond Capital: The project posits that Nigeria is not lacking capital but “invisible infrastructure”, specifically Trust, Access, and Regulatory Clarity.

NIIRA 2025: From Compliance to Competitive Advantage

Adebisi describes NIIRA 2025 as a vital structural reinforcement rather than regulatory friction. The Act’s focus on Capital Recalibration, Stronger Governance, and Consumer Protection is essential for building the institutional rigour required to support a $1 trillion GDP.

Recalibrating Foundations: The reform represents a necessary recalibration of the industry’s foundations while accelerating digital transformation.

Strategic Policy Fluency: “Those who view compliance as a burden will struggle; those who see it as a competitive advantage will thrive,” Adebisi noted, identifying policy fluency as a core leadership competency for the next decade.

Economic Visibility: Integrating the Informal Sector

A central pillar of the project is “Engineering Inclusive Ecosystems,” exemplified by the FileAm App. This initiative reimagines tax compliance as a digital utility for SMEs and informal entrepreneurs, moving them from economic invisibility into formal digital tax rails, insurance coverage, and credit ecosystems.

The Wealth Pipeline: By building digital identity and verifiable credentials, the project aims to turn compliance into credit history, and credit history into the capital access required for intergenerational wealth creation.

As a Financial Systems Architect, Adebisi’s blueprint for the next decade is governed by a singular core rule: Data-aware. Policy-conscious. Africa-focused.. The project calls on industry leaders and policymakers to move beyond incremental adoption toward designing interoperable ecosystems that can sustain the Africa of tomorrow.

“The future of finance in Africa will not be inherited. It will be architected,” Adebisi concluded. “It is our turn to build.”.

The National Insurance Commission (NAICOM) has unveiled a far-reaching reform agenda aimed at strengthening industry stability, improving consumer confidence, and positioning the sector to play more strategic role in national economic growth.

Speaking at the 2026 management retreat in Uyo, Olusegun Ayo Omosehin, commissioner for Insurance/CEO, NAICOM, described the initiative as a defining moment for the industry, stressing that the transformation drive is designed to modernise regulatory oversight, deepen market penetration, and build a more resilient and globally competitive insurance industry.

The renewed policy direction was unveiled at the Commission’s 2026 Management Retreat held in Uyo, Akwa Ibom State, under the theme “Insurance Regulation: Reset, Reimagine, Refocus.”

Omosehin, described the retreat as a watershed moment in the Commission’s 29-year evolution, declaring that the regulator is embarking on a decisive transformation phase anchored on integrity, professionalism, accountability, and institutional unity.

He stressed that the reform agenda represents a deliberate shift away from outdated regulatory practices towards a modern, proactive, and impact-driven supervisory framework capable of strengthening market confidence and driving sustainable industry growth.

Omosehin explained that the retreat’s theme reflects a strategic call to action designed to reset legacy regulatory approaches, reimagine the untapped potential of Nigeria’s insurance market, and refocus regulatory strategies to deliver measurable economic value.

He further underscored the Commission’s strategic role in supporting the economic expansion blueprint of president Bola Ahmed Tinubu, noting that achieving Nigeria’s ambitious $1 trillion economic target requires a resilient, well-capitalized, and shock-resistant insurance sector capable of underwriting major risks, attracting investment inflows, and supporting long-term national development.

Central to the reform drive is NAICOM’s ongoing recapitalization programme, which the commissioner described as one of the most far-reaching regulatory interventions in the history of Nigeria’s insurance industry.

He clarified that the initiative goes far beyond capital injection, stressing that it is designed to strengthen insurers’ financial stability, enhance consumer protection, deepen insurance penetration across underserved segments, reinforce the industry’s capacity to withstand economic shocks, and rebuild public trust in insurance as a credible financial safety net.

He emphasized that the credibility of the exercise will be measured by its transparency, fairness, and professional execution, warning that the Commission will tolerate no ambiguity, compromise, or preferential treatment in the process.

Addressing management staff, Omosehin delivered a firm directive for internal discipline and cohesion, urging leaders within the Commission to uphold integrity as a guiding principle, professionalism as an operational compass, and transparency as a non-negotiable regulatory standard.

He stressed that NAICOM’s effectiveness depends on institutional collaboration, warning that departmental silos and bureaucratic rivalries undermine regulatory efficiency.

In a symbolic demonstration of commitment, management staff collectively pledged to uphold fairness, accountability, and global best practices in executing the recapitalization roadmap and safeguarding the future of the insurance sector.

The Commissioner also outlined key strategic priorities expected to reposition the industry, including strengthening regulatory oversight, ensuring disciplined execution of the recapitalization framework, deepening stakeholder engagement, expanding institutional capacity in risk-based supervision and data analytics, driving market development through digital innovation, strengthening organizational culture, and reinforcing policyholder protection mechanisms.

Omosehin also invoked an African proverb to emphasize the importance of unity and collective resolve, noting that sustainable transformation of the insurance sector can only be achieved through shared commitment among regulators, operators, and stakeholders.

He reaffirmed NAICOM’s determination to build an insurance industry that is resilient, globally competitive, trusted by policyholders, and fully aligned with Nigeria’s long-term economic transformation agenda.

Zacch Adedeji, the Executive Chairman of the Nigerian Revenue Service (NRS), has described technology as a crucial factor in the implementation of the new tax laws.

Adedeji stated this while delivering the maiden convocation lecture of the Federal Polytechnic, Ayede, Oyo state.

In a statement by his Technical Assistant on Print Media, Sikiru Akinola, Adedeji listed some of the most fundamental challenges confronting taxation to include infrastructure, skills, trust and resistance.

In the lecture titled, ‘The Role of Technology in Implementing Nigeria’s New Tax Laws: Challenges, Prospects, and Implications for National Development,’ the NRS chairman said each of the challenges would be addressed with the imminent upgrading of the country’s tax system for a digital environment.

He said: “Nigeria has recently enacted a new set of tax laws, representing the most significant restructuring of our nation’s fiscal legislation in 50 years. While public conversation often frames these changes as legal reforms, and that is true, it is also an incomplete picture.

“These laws are not merely changing rates, definitions, or administrative powers. They are quietly redefining how authority operates within the tax system. This is a complete structural overhaul, signalling the end of tax collection as a manual task and the beginning of tax intelligence.

“If you read the new laws carefully, you will notice a subtle but profound assumption woven throughout their fabric. They presuppose the existence of reliable taxpayer identification, integrated data across institutions, traceable transactions, automated processes, and scalable enforcement.

“In other words, these laws are built for a digital environment. They cannot function properly in a manual, fragmented, paper-based system. The implication is clear: without technology, the laws remain aspirational. With technology, they become operational.

“This transition is central to the mandate of the Nigeria Revenue Service as we implement this new legal framework. Historically, tax administration relied heavily on human discretion over who is registered, who is assessed, who is audited and who is penalised.”

The Speaker of the House of Representatives, Tajudeen Abass, encouraged the graduating students to be good ambassadors of the institution.

Represented by AbdulFatai Buhari, the senator representing Oyo North, Abass charged the youths not to relent in their bid to acquire more knowledge.

He also commended the tax boss for leading the change in tax administration in the country.