Multi-subject matter expert, Barineka Thompson has retired from the National Insurance Commission (NAICOM) following the implementation of the new Public Service Circular on tenure policy.
Barineka, who was director, Finance and Accounts at NAICOM was retired with two other directors Pius Agbola, director, Inspectorate and Habila Amos, director, Administration and Human Resources.
NAICOM on Friday, August 04, 2023, served them exit letters pursuant to a recently issued Public Service Circular on eight years tenure for all Federal Government of Nigeria (FGN) Directors.
The tenure policy – 2021 Revised Edition’ of Public Service Rule (PSR), which took effect from July 27, 2023, stated that all Directors (SGL 17), who have spent eight years and above on a post are directed to submit their notice of retirement in line with Section 020909 of the revised PSR.
With the policy, about 512 directors in the civil service who have spent eight years on the directorate cadre may be forced out of the service.
Barineka Thompson said “I am pleased to inform you that NAICOM served me and two others a compulsory retirement letter last Friday, 04/08/2023 pursuant to a recently issued Public Service Circular on eight years tenure for all FGN Directors.
“I have done 10 years and 10 months to the glory of God. It’s only the end of the third phase of my career having worked in Nicon Insurance, Linkage Assurance and NAICOM, and the next one has just begun. Thank you for all your support during my service to NAICOM and I’ll continue to appreciate you as always and also count on you for my next glorious career level.”
These were the words of Barineka, whose joy was
Barineka Thompson is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), an Associate member of the Chartered Institute of Taxation of Nigeria (ACIT) and the Nigerian Institute of Management (AMNIM).
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He is also a Certified Anti-Money Laundering Specialist (CAMS), and Certified Advanced AML Audit Specialist (CAMS-AUDIT) of the Association of Certified Anti-Money Laundering (AML) Specialists (ACAMS), USA. He is the only Resident Nigerian with the CAMS-AUDIT certification to date.
Thompson is a highly skilled, resourceful and dynamic person, with cognate experience in Insurance, Finance, Strategy Management and Hospitality and a subject matter expert in Anti-Money Laundering and Financial Crime Investigation.
He was the Group Head, Finance and Chief Finance Officer of Linkage Assurance Plc before joining the National Insurance Commission (NAICOM) Abuja and has served on several corporate boards of Directors amongst other top management positions in the private and public sector.
Prior to joining Linkage Assurance Plc, he served as acting general manager/chief executive of NICON HOTELS Limited, (a fully owned subsidiary of NICON Insurance Plc and former owner of Transcorp Hilton Hotel).
He held a senior management position in NICON Insurance Plc before its privatization in several departments. He has served as a non-executive director on the Board of many companies including; Associated Properties & Trust Plc, Nigeria Aluminium Extrusions Limited, Globe Re-Insurance Plc, Nigeria Hotels Ltd (owners of Ikoyi Hotels) and Abuja International Hotels Limited.
Upon joining the NAICON in October 2012, he recently held the office of director, Finance and Accounts (DFA) in a recent redeployment, haven served as director, Supervision Directorate and director, Inspectorate Directorate. His responsibilities in the two key technical offices covered off-site and on-site supervision and AML/CFT.
He was the brain behind most of the regulatory policies, and supervisory initiatives for many years now.
