In light of the recent directive on tenure limits for Federal Government of Nigeria (FGN) Directors, Mr. Barineka Thompson, the Director of Finance and Accounts (DFA) at the National Insurance Commission (NAICOM), has retired on a mandatory basis.
The updated 2021 edition of the Public Service Rule (PSR), effective from July 27, 2023, requires Directors (SGL 17) who have spent eight years or more in a position to submit their retirement notice, as stated in Section 020909 of the revised PSR.
As a result, Thompson, with 10 years and 10 months of service at NAICOM, received a compulsory retirement letter from NAICOM on August 4, 2023.
Thompson boasts a prestigious background, holding fellowships in the Institute of Chartered Accountants of Nigeria (ICAN), Associate membership in the Chartered Institute of Taxation of Nigeria (ACIT), and the Nigerian Institute of Management (AMNIM). He is also recognized as a Certified Anti-Money Laundering Specialist (CAMS) and Certified Advanced AML Audit Specialist (CAMS-AUDIT) by the Association of Certified Anti-Money Laundering Specialists (ACAMS), USA. Remarkably, he stands as the sole resident Nigerian to possess the CAMS-AUDIT certification to-date.
Thompson’s career trajectory highlights his expertise across Insurance, Finance, Strategy Management, and Hospitality. He is a subject matter authority in Anti-Money Laundering and Financial Crime Investigation. His professional journey includes significant roles such as Group Head of Finance and Chief Finance Officer at Linkage Assurance Plc before transitioning to his position at the National Insurance Commission (NAICOM) in Abuja. He has also held distinguished roles on various corporate Board of Directors and in top management capacities within both private and public sectors. Notably, he previously served as the Acting General Manager and Chief Executive of NICON Hotels Limited, a subsidiary of NICON Insurance Plc and the former proprietors of Transcorp Hilton Hotel.
