The National Insurance Commission (NAICOM) and the Nigeria Data Protection Commission (NDPC) have signed a Memorandum of Understanding (MoU) to strengthen their collaboration in enhancing data privacy and protection in Nigeria.

The MoU, signed by Dr Vincent Olatunji, the National Commissioner/CEO of NDPC, and Olusegun Ayo Omosehin, the Commissioner for Insurance/CEO of NAICOM, took place at the NAICOM office in Abuja. Announced by the NDPC on LinkedIn, the agreement is a significant step forward in the agencies’ shared mission to promote data privacy in Nigeria.

In his statement, Dr Olatunji highlighted that this collaboration marked “another milestone” in NDPC’s efforts to deepen data privacy standards across the nation. The partnership is already underway, building on previous engagements, including a courtesy visit.

“This is another milestone in our mandate of deepening data privacy in Nigeria,” said NDPC CEO.

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NDPC to educate NAICOM employees on data protection 

NDPC will educate NAICOM staff on data protection practices and engage with CEOs from insurance companies to stress the importance of privacy and data security within the insurance sector. Dr Olatunji also proposed the formation of an implementation committee to monitor the progress of the MoU, praising Omosehin’s private-sector expertise.

Dr Olatunji praised Omosehin for his efforts to enhance the insurance industry, pointing out his invaluable private sector experience.

Omosehin informed the Commission of NAICOM’s dedication to maintaining data privacy standards in the insurance industry and thanked Dr. Olatunji for his interactions with industry players.

“The MoU we are signing today is the outcome of a very elaborate engagement between the two agencies

On the part of NAICOM, we are committed to data protection principles,” the NAICOM CEO noted.