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:
Dr. Justice Ofori – Commissioner of Insurance / Chief Executive Officer
Dr. Ofori is the Commissioner of Insurance and the Chief Executive Officer (CEO) of the National Insurance Commission (NIC). 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.
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. 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 also holds degrees from York University, Canada and the University of Toronto, Canada. He is certified in Management by the Canadian Institute of Management (CIM) and is a licensed Independent Adjuster, Ontario – Canada. Mr. Ofori has an International Executive MBA degree from the Paris Graduate School of Management and is a Fellow of the Insurance Institute of Canada (IIC) and a Chartered Insurance Professional (CIP). He is also a Fellow of the Chartered Insurance Institute of Ghana (CIIG). 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) Governing Board and is an Executive Member of the ECOWAS Brown Card Council of Bureaux. Dr. Ofori is currently the Chairman of the Governing Council of the Ghana Insurance College (GIC).
He possesses a Doctor of Business Administration (DBA) degree from the Swiss Business School (SBS). 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 particularly in recognition of his contribution to insurance education in the country and for his lead role in the introduction of the Motor Insurance Database (MID) to curb the phenomenon of fake motor insurances in the country to save innocent lives.
Mr. 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 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
Mrs. Esther Armah – Head, Reinsurance & AML
Mrs. 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.