NAICOM Denies N100bn Recapitalisation Fraud Claims
The National Insurance Commission (NAICOM) has officially denied allegations regarding a N100 billion fraudulent insurance recapitalisation and the purported detention of its director and commissioner for insurance, Mr. Olusegun Ayo Omosehin. The commission described the publication, which appeared on September 9, 2026, as false, misleading, malicious, and a deliberate misrepresentation of facts.
NAICOM indicated that the claims were sponsored by promoters of NICON Insurance Plc and Nigeria Reinsurance Corporation, both of which are currently undergoing liquidation. The commission asserted that the publication was intended to misinform the public, undermine regulatory processes, and damage the integrity of NAICOM and its officials.
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