NAICOM Debunks N100bn Recapitalisation Fraud Claim
Ebere Nwoji The National Insurance Commission (NAICOM), has debunked recent publication on N100 billion fraudulent insurance recapitalisation and allegations on detention of its director and commissioner for insurance, Mr Olusegun
The National Insurance Commission (NAICOM) has refuted a recent claim of an N100 billion fraudulent insurance recapitalisation and allegations of detaining its director and commissioner for insurance, Mr Olusegun Ayo Omosehin, stating that the publication is false, misleading, malicious and a deliberate misrepresentation of facts.
The commission expressed its concern over the September 9th, 2026 publication by the promoters of NICON Insurance and Nigeria Reinsurance Corporation, both currently under liquidation, as it was deliberately designed to mislead the public, undermine regulatory processes, and tarnish the integrity of the Commission and its officials.
The NAICOM has been informed about the publication titled "100 billion fraudulent insurance recapitalisation: EFCC detains NAICOM director and commissioner, both on bail" which was sponsored by the promoters of NICON Insurance Plc and Nigeria Reinsurance Corporation.
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