Mr Thomas is a thorough-bred insurance professional with vast knowledge and experience in underwriting, regulation and hands-on management of human and material resources spanning over four decades uninterrupted.

With over 30 years of experience in the industry as an operator and regulator. During these years, Mr Thomas had traversed the entire insurance sector in Nigeria leaving indelible marks along the way.

He assumed office as substantive CEO of NAICOM on April 30, 2020; having been appointed in an acting capacity in Aug 2019 following the expiration of the tenure of Mr M U Kari, the former Commissioner for Insurance.

 

Prior to this appointment, Thomas was the Deputy Commissioner in charge of technical matters at the Commission between April 2017 and August 2019.

 

Mr Thomas was Director-General of the Nigerian Insurers Association NIA between May 2010 and April 2017, brought his experience to bear on the job.

 

It is to his credit that the Association successfully developed and deployed the Nigeria Insurance Industry Database NIID platform.

He holds a BSc Hons in Actuarial Science and an MBA in Finance both from the University of Lagos.

 

He is also an Associate Member of the Chartered Insurance Institute, London and Nigeria, Member Society of Fellows of the CII London, Member of Nigeria Institute of Management among others.

 

Mr Thomas has a track record of performance, and he is seen within the insurance industry as the commissioner who understands the feeling of all stakeholders and is determined to take the sector to lofty heights.

 

He is one person that his appointment by President Muhammadu Buhari attracted celebration by the insurance business community and all professionals of repute by both players and stakeholders in the industry.

 

The recognition bestowed on him is indicative of the strength of character, high probity and capacity to reinvent and attain feats others considers impossible.

Many operators in the industry are believed to be beneficiaries of his years of selfless and dedicated service to humanity and the insurance industry.

 

Thomas’ knowledge of the workings of the industry is unequalled in the appointment of managers in recent times.

One of the initiatives he introduced that is attracting commendation is the recapitalization of the insurance sector, which many believe will stabilize the industry and enable it to undertake big-ticket transactions.

 

He is also seen as a vessel to champion regulatory policies that meet both the insuring and investing public’s expectations and provide an enviable playing field for all insurance professionals in Nigeria.

 

When the shareholders observed that the timeline was so short that no insurance company will be able to successfully meet the recapitalization timetable he set up a stakeholder meeting with shareholders that led to the extension of the deadline.

Thomas has demonstrated capability and competence to give the industry a new direction as evident in his leadership style during the period of acting as the CFI.

His goal has been to grow the industry for the betterment of the nation’s economy and all stakeholders.

 

Thomas has grown through the ranks to rise to the apex and has the required, knowledge skill and experience to build on the achievements of his predecessors and move the Insurance industry to greater heights.

 

Prior to his appointment, he has exhibited, skill, and shown far-reaching knowledge of the Insurance industry during his stint as acting commissioner.

Thomas is not only a consummate technocrat but also a well-groomed administrator who has seen it all from the operators’ angle and now from the regulatory perspective since 2017.

He has been able to stabilize the industry since his assumption of office as the Commissioner for insurance albeit in the acting capacity since July 2019.


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