NCAA, NAICOM Sign MoU to Strengthen Aviation Insurance Oversight

The Nigeria Civil Aviation Authority (NCAA) and the National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) aimed at strengthening regulatory oversight and compliance with aviation insurance requirements in Nigeria.

The agreement was signed on Wednesday, September 9, 2026, at the NCAA Corporate Headquarters in Abuja by the Director-General of Civil Aviation, Capt. Chris Najomo, and the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, on behalf of the two regulatory agencies.

The MoU is expected to deepen collaboration between the aviation and insurance regulators, particularly in ensuring that aviation operators maintain adequate, valid and viable insurance policies in line with the provisions of the Nigeria Civil Aviation Regulations (Nig. CARs) 2023.

Speaking at the signing ceremony, Najomo said the agreement was a product of the long-standing working relationship between the NCAA and NAICOM in monitoring and assessing the adequacy of insurance policies obtained by aviation operators.

He described aviation as a paradoxical industry, noting that while air transport is globally recognised as one of the safest forms of transportation, aviation operations are exposed to risks that, when they occur, can have significant human and financial consequences.

According to him, the nature of such risks makes effective insurance coverage an essential component of aviation regulation and safety.

He said the strengthened partnership between the two agencies would contribute to improved aviation safety, financial resilience and regulatory compliance, while also providing greater protection for passengers, operators, third parties and other stakeholders within the aviation ecosystem.

Najomo commended members of the Joint Technical Committee (JTC) for their work in developing the framework for the agreement, expressing confidence that the committee would ensure that the implementation of the MoU translates into measurable improvements in aviation insurance compliance and regulatory oversight.

Also speaking, the NAICOM Commissioner for Insurance, Omosehin, described the signing as a significant milestone in efforts to strengthen the safety, integrity and resilience of Nigeria’s aviation sector.

He emphasised that aviation insurance should not be viewed solely as a regulatory obligation, but as a critical risk-management mechanism capable of protecting lives, property, businesses and the wider economy from the potentially severe financial consequences of aviation-related incidents.

Omosehin said closer collaboration between the aviation and insurance regulators would enhance the effectiveness of oversight and ensure that insurance arrangements within the sector adequately respond to the risks associated with aviation operations.

In her welcome address, the Director of Air Transport Regulation at the NCAA, Mrs. Olayinka Babaoye-Iriobe, underscored the importance of aviation insurance to the safety, stability and long-term sustainability of the Nigerian aviation industry.

She reaffirmed the NCAA’s commitment to ensuring that aviation operators maintain appropriate insurance arrangements capable of protecting passengers, operators, third parties, cargo and other interests against liabilities arising from aviation activities.

The MoU therefore represents a move towards closer institutional coordination between the NCAA and NAICOM, with the two regulators expected to work more closely on issues relating to insurance compliance, policy adequacy and the protection of stakeholders across the aviation value chain.

Representatives of the Minister, Mr. Suleiman Kilo, the Nigerian Insurers Association (NIA), Nigerian Council of Registered Insurance Brokers (NCRIB), Airline Operators of Nigeria (AON) and Aviation Ground Handlers Association of Nigeria (AGHAN) attended the ceremony.

The development comes as Nigeria’s aviation industry continues to place greater emphasis on strengthening regulatory standards, improving operational resilience and ensuring that operators are adequately positioned to meet their financial and safety obligations.