Risk, Audit & Compliance Executives To Discuss Recapitalisation

Risk, Audit & Compliance executives under the auspices of the Nigerian Insurers Association (NIA) Risk, Audit & Compliance Committee (RACC) is set to discuss insurance industry recapitalisation, at its upcoming annual retreat.

The retreat, which commences from August 14 to August 16, 2025 in Abeokuta, Ogun State, is themed: ‘Insurance Industry Recapitalisation: Strengthening Governance Activities For Maximum Benefits’.

Speaking at a press briefing on the event, in Lagos,at the weekend, the chairman of RACC, Olugbenga Akinlalu, stated that, the theme was both timely and strategic, coming at a period when the  insurance sector is undergoing rapid and radical changes to enhance financial stability, and ensure insurance industry in Nigeria is globally competitive.

While the Group executive director of Continental Reinsurance Plc, Emeka Akwiwu, would be the Lead Paper Presenter, focusing on the theme of the retreat, Akinlalu said, “as recapitalisation efforts gather momentum, it is imperative that governance structures within companies are strengthened to ensure that the anticipated growth is both sustainable among members companies.”

The capacity building retreat, he stressed, is expected to have over 150 attendees, stressing that the event would be declared open by the NIA director general, Bola Odukale, while the chairman, Kunle Ahmed, will also attend the event.

He maintained that this year’s programme would provide participants with critical insights into effective governance practices, regulatory expectations and the operational adjustments necessary to maximise the benefits of recapitalisation, adding that, it would also offer a platform for robust engagements, share learning and strategic collaboration among member companies.

Speaking on the derivable benefits from the event, he submitted that, participants would be equipped with knowledge and skills that would enable them identify, assess, manage and adequately prepare for inherent challenges of recapitalisation as participants would adapt to changing trends including those related to mergers, acquisitions and buying over; enabling participants to develop and make recommendations to regulators a robust transitional framework for operational adjustment for maximum benefits amongst others.