Group Backs NAICOM’s Regulatory Role, Retracts Call for CEO’s Removal
The Coalition for Good Governance in Nigeria (CGGN) has reaffirmed the importance of NAICOM’s regulatory role in Nigeria’s insurance sector and retracted its earlier call for the removal of the
The Coalition for Good Governance in Nigeria (CGGN) has clarified its stance on NAICOM's regulatory role in Nigeria's insurance sector. In a statement dated September 29, 2026, CGGN retracted its earlier call for the removal of the commission's Commissioner for Insurance and Chief Executive Officer, Mr Olusegun Ayo Omosehin. The coalition admitted that the allegations on which its demand was based were inaccurate, incomplete, and unsupported by verifiable evidence.
CGGN also withdrew its characterization of NAICOM's regulatory actions during the recapitalisation exercise as unlawful. The group expressed regret over any distress or reputational harm its earlier statement may have caused Omosehin, NAICOM's management, insurance operators, policyholders, and the public.
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