Civil Group Retracts Call for NAICOM CEO Omosehin's Removal, Apologises
- The Coalition for Good Governance in Nigeria withdrew its earlier demand for NAICOM Commissioner Olusegun Ayo Omosehin's resignation or suspension
- The group admitted its earlier allegations against NAICOM were inaccurate and unsupported by verifiable evidence after an internal review
- CGGN also retracted claims that NAICOM made unlawful demands during Nigeria's ongoing insurance recapitalisation exercise
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Abuja, FCT - The Coalition for Good Governance in Nigeria (CGGN) has publicly withdrawn its earlier call for the removal of the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin, saying the claims on which that demand was built did not hold up to scrutiny.
In a statement dated September 29, 2026, and signed by Salisu Mohammed, the group said an internal review, combined with fresh engagement with relevant documents, revealed that the assertions in its earlier statement were inaccurate, incomplete, and unsupported by verifiable evidence.
Source: Twitter
"Upon rigorous internal review, further engagement with relevant documents, and careful consideration of additional facts that have since come to light, the Coalition has determined that the assertions contained in that earlier statement were inaccurate, incomplete, and not supported by verifiable evidence," CGGN said. "We therefore withdraw the statement in its entirety."
CGGN Retracts Specific Claims Against NAICOM
Among the claims the group formally abandoned were allegations that NAICOM made unlawful demands on insurers, forced companies to transfer capital into Central Bank of Nigeria escrow accounts, or collected fees for consultants who were never engaged. The Coalition also retracted its earlier description of Omosehin's continued tenure as a "clear and present danger" to Nigeria's insurance sector.
CGGN acknowledged that its characterisation of NAICOM's conduct during the ongoing recapitalisation exercise as unlawful was wrong.
"The characterisation of NAICOM's regulatory actions during the ongoing recapitalisation exercise as unlawful or lacking legal foundation was erroneous," the group said, attributing the error to a misunderstanding of the applicable legal and regulatory framework.
The group offered an unreserved apology to Omosehin, NAICOM's management and staff, insurance operators, policyholders, and the wider public for any reputational harm or anxiety its earlier statement may have caused.
CGGN Reaffirms Commitment to Accountability
Despite the full retraction, the Coalition said pulling back its earlier demands did not weaken its interest in ensuring that the recapitalisation exercise is conducted in an orderly and lawful manner.
"Good governance requires not only the courage to speak when concerns arise, but also the integrity to correct the record when those concerns are shown to be misplaced," CGGN said.
The group also formally withdrew any suggestion that the Minister of Finance and Coordinating Minister of the Economy should take disciplinary action against Omosehin based on its earlier petition.
"We therefore retract, without reservation, every demand for the immediate resignation or suspension of the Commissioner for Insurance," CGGN stated.
The Coalition urged stakeholders to allow the Economic and Financial Crimes Commission, the Federal Ministry of Finance, and NAICOM to carry out their statutory responsibilities without interference from what it described as unsubstantiated public campaigns.
Source: Legit.ng
