NAICOM Boss, Olusegun Ayo Omosehin, Must Go Immediately — Group Demands Suspension Over Explosive EFCC Petition, Warns Insurance Sector Collapse
The Coalition for Good Governance in Nigeria (CGGN) has called for the immediate resignation of Olusegun Ayo Omosehin, Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), over what it described as a deepening regulatory and financial crisis that threatens to destroy public confidence in the nation’s insurance industry. In a statement signed by Salisu Mohammed, the group said Omosehin’s continued stay in office while a formal petition against him and NAICOM sits before the Economic and Financial Crimes Commission (EFCC) constitutes a clear and present danger to the sector and an affront to accountability. “The petition before the EFCC is not a minor administrative disagreement. It centres on alleged unlawful demands for a one per cent capital injection fee, forced transfer of entire capital funds into CBN escrow accounts contrary to Section 16(3) of the Nigerian Insurance Industry Reform Act 2025, and the collection of about ₦180 million...