About Us


NIC has a strong and capable management that provides oversight for the Commission. The Management Team has been effective and has contributed to establishing fairly good corporate governance. They include:

Prof. Dr. Justice Ofori – Commissioner of Insurance / Chief Executive Officer

Prof. Dr. Justice Ofori is the Commissioner of Insurance and the Chief Executive Officer (CEO) of the National Insurance Commission (NIC), Ghana. Prior to his appointment, he was the first Director of the Ghana Insurance College (GIC), an educational institution established by the National Insurance Commission (NIC), the Ghana Insurers Association (GIA), the Insurance Brokers Association of Ghana (IBAG) and the Chartered Insurance Institute of Ghana (CIIG). He excelled in his mandate, which was to set up an Insurance College to educate, train, mentor and develop professionals in the practice of insurance in the country. This has enabled over 300 students of the College to qualify as Chartered Insurers and attain the Associateship status of the Chartered Insurance Institute (CII) of the United Kingdom (UK). Before his appointment, he worked with Vanguard Assurance Company Limited from 2004 – 2006 as a Senior Manager where he set up the Company’s Corporate Department.

Prof. Dr. Ofori’s experience stretches back to holding various positions at McLarens Toplis in Canada, Allianz Canada and CGI Canada as a Licensed Independent Claims Adjuster between 1990 and 2004. Prof. Dr. Ofori holds a Bachelor of Arts degree from the University of Ghana, Legon and a Diploma with Honours in Banking and Finance from the Toronto School of Business, Canada. He is certified in Management by the Canadian Institute of Management (CIM) and is a licensed Independent Adjuster of Ontario, Canada.

Prof. Dr. Ofori has an International Executive MBA degree from the Paris Graduate School of Management. He is a Fellow of the Insurance Institute of Canada (IIC), a Fellow of the West African Insurance Institute (WAII), The Gambia and also a Fellow of the Chartered Insurance Institute of Ghana (CIIG).

Prof. Dr. Ofori possesses a Master of Applied Business Research degree and a Doctor of Business Administration (DBA) degree both from the Swiss Business School (SBS). While at Vanguard, he was a part-time Lecturer at the Insurance Industry Training Centre (IITC) of the NIC from 2004 to 2006 and a part-time Lecturer in Loss Quantification at the Institute of Chartered Accountants (ICA, Ghana). He currently serves on the Boards of the National Health Insurance Authority (NHIA), the West African Insurance Institute (WAII), and an Executive Member of the ECOWAS Brown Card Council of Bureaux. He is the President of the Old Vandals Association (Greater Accra Region).

Prof. Dr. Justice Ofori is currently the Chairman of the Governing Council of the Ghana Insurance College (GIC).
Under his stewardship, the new Insurance Act 2021 (Act 1061) was passed. This Act consolidates other compulsory insurances including public liability and professional indemnity to facilitate the growth of the insurance industry. The Act, among others, also empowers the regulator to ensure that insurance entities are capable of meeting their obligations promptly.

He created seven (7) additional regional offices thus bringing insurance to the doorstep of policyholders per the Commission’s core mandate of protecting policyholders’ interest.

Through his exemplary leadership and managerial acumen, he did not miss the lenses of the Ghana Journalists Association (GJA). The GJA therefore, conferred on him an honorary Member of the Association during its 25th Awards Ceremony particularly in recognition of his contribution to insurance education in the country and for his lead role in the introduction of the highly successful Motor Insurance Database (MID) to curb the phenomenon of fake motor insurances in the country to save innocent lives.

He has won many awards in the past few years. One for leading the Insurance Industry to donate the highest number of units of blood in both 2021 and 2022 with the view to save lives. This was awarded by the National Blood Service for his humanitarian initiative. He was adjudged and presented with the coveted award of the Overall Best CEO of the year 2021 by the Ghana Leadership Awards.

Through his leadership, the NIC was in October 2022 awarded the ‘Excellence in Insurance Regulation’ and the Ghana’s Commissioner of Insurance himself awarded ‘The Insurance Personality of the Year’ at the 7th Instinct Business Awards. This was followed by him being awarded one of the best CEO’s in Africa at the Africa Outstanding Professional Awards (AFOPA) ceremony held in Ethiopia in November, 2022. Less than a week prior to this, he was recognized by the Ashanti Business Leaders Excellence Awards at its 8th Ashanti Business Leaders Excellence Awards.

His desire to provide education and training on insurance capacity building for Senior Insurance Industry Executives and over 10,000 youth as sales agents was not limited to only the insurance industry but extended to include workshops organized for other professional bodies and groups. These include Judges of the High Courts of Ghana, Officers of the Security agencies as well as Members of the arts, entertainments and sports fraternity which were initiatives he implemented in line with the regulator’s mandate to provide public education and sensitization on insurance.

Prof. Dr. Justice Ofori is not only a visionary leader but also a transformational one with an inspirational driving force in the Insurance industry and Corporate Ghana.

Some months following his induction into the Oxford Academic Union (OAU) for his stellar leadership and managerial acumen and achievements in the Ghana insurance space, the OAU later conferred on him an Honorary Professorship title in recognition of his expertise in the field of insurance education, practice and regulation.

Prof. Dr. Justice Ofori has indeed set an unimpeachable pace and established an unprecedented benchmark of excellence in leadership which has been felt and acknowledged across geographical boundaries.

michael-andohMr. Michael Andoh– Deputy Commissioner of Insurance

Mr. Andoh holds a Bachelor of Science degree in Administration from the University of Ghana Business School, and an MBA from the University of Leicester in the UK.

He is also a Fellow of the Association of Certified Chartered Accountants in the UK, a member of the Ghana Institute of Taxation and an Associate of the Toronto Centre. He has worked with the NIC since 2000. Prior to joining the NIC, he worked with KPMG for three years

The deputy assists the Commissioner in the day-to-day administration of the Commission.

Naa Shormeh Gyang (Mrs.) – Head, Legal & Human Resource/ Board Secretary

Mrs. Gyang is a Barrister at Law and a Solicitor of the Supreme Court of Ghana with over 26 years Corporate Law practice.

She is a Member of the Ghana Bar Association (GBA). She started her legal career in 1990 with Legal Aid Ghana, as a Legal Aid Officer.

Prior to joining the NIC in 2018, she had worked with Merchant Bank Ghana Limited (now Universal Merchant Bank) in key management positions after having risen through the ranks when she joined the Bank in 1991 as a Legal Officer. Mrs. Gyang provides support on the Legal, Regulatory and Governance Functions of the Commission.

Dr. Mahama Wayo – Director of Finance

Dr-Mahama-Wayo-NICDr. Mahama Wayo joined the Commission on 15th March, 2018 as the Head of Finance. He is responsible for the accounting and finance functions of the Commission. Before joining the Commission, he had worked as the Director of Finance of Tamale Technical University.

Dr. Mahama Wayo holds a Doctorate of Finance from the Swiss Management Centre University, and is a member of the Institute of Chartered Accountants, Ghana. He also holds an MBA in Accounting from the University of Ghana and, a Bachelor of Commerce (B.Com) and a Diploma in Education from the University of Cape Coast. Dr. Mahama Wayo has the skills of detecting fraud and manipulation in financial statements.

Mrs. Stella Jonah – Head of Supervision

Mrs. Stella Jonah joined the National Insurance Commission (NIC) in 2007 and previously worked in various Departments including Supervision, Audit, Finance & Administration and the Office of the Commissioner of Insurance. Mrs. Jonah has several years’ experience in insurance regulation and supervision, and has been instrumental in Industry-related causes and continues to play roles as a Member of key Industry Committees.

She holds a Bachelor of Arts degree and a Bachelor of Laws (LLB) degree.
She is a Chartered Insurer and an Associate of the Chartered Insurance Institute, United Kingdom (ACII).
She is a Fellow of the Chartered Insurance Institute of Ghana (FCIIG) and an International Fellow of the National Association of Insurance Commissioners (NAIC), USA.

Mr. Moses Ackah-Jayne – Head, Marketing & External Relations

Mr. Moses Ackah-Jayne joined the Commission as the Finance Manager in 2007 and has since served in various capacities at the Commission including Head of Finance, Head of Finance and Administration and is currently the Head of Marketing & External Relations

He has had diverse experiences in the private and banking sectors as well as with some international NGOs prior to Joining the NIC. He is a financial analyst and holds a Bachelor of Science in Administration Degree (Accounting option) with first class honours from the University of Ghana, Legon. He is a member of the Chartered Institute of Bankers, ACCA and the Institute of Human Resource Management Practitioners. He holds a certificate in Strategic Financial Analysis from Harvard University.

Mr. George Quayson Otoo – Internal Auditor

George Quayson Otoo has over 24 years of experience at the Commission and the Insurance industry, including 14 years in a managerial capacity.

Before his appointment as the Internal Auditor of the Commission, Mr. Quayson Otoo worked at the Finance & Administration Department where he rose through the ranks to become a Senior Manager.

He was very instrumental in setting up the Finance Department and responsible for the preparation of the IPSAS (International Public Sector Accounting Standards) Financial Statement in 2019, ahead of the deadline for Public Institutions in 2021.

He has been very keen in industry-related advancement over the years and served as a Member of the Client Rescue Committee. He played key roles in preparing the yearly financial reports on behalf of both the Motor Compensation and the Fire Control Funds.

He holds a Master of Business Administration awarded by the University of Ghana, a Diploma in Applied Insurance Studies from the Malta International Training Centre / Ghana Insurance College. Mr. Otoo is amongst the first batch of graduate students from the University of Professional Studies (UPSA) who pursued the Bachelor of Science degree in Accounting.

He is a Chartered Accountant and a Member of the Institute of Chartered Accountants (ICA), Ghana.

He is also a Member of the Institute of Internal Auditors (IIA), Ghana, as well as the Global Internal Auditors (GIA).

Mrs. Esther Armah – Head, Reinsurance & AML

Esther-Armah-NICMrs. Esther Armah holds a Bachelor of Arts degree in Economics & Sociology and a Diploma in Education from the University of Cape Coast, and an MBA from GIMPA.

She is also an Associate of the Chartered Insurance Institute (ACII), U.K. and has worked with the NIC for over two decades in regulatory reporting, prudential supervision and the implementation of supervisory policies and procedures.

She heads the Reinsurance and Anti-Money Laundering Department which ensures that regulated entities have adequate procedures and programs in place to prevent them from being used for Money-Laundering and the Financing of Terrorism among others.