Group Urges Finance Minister to Suspend NAICOM Boss Over EFCC Petition
The Coalition for Good Governance in Nigeria has called for the suspension of NAICOM Commissioner for Insurance and Chief Executive Officer Olusegun Ayo Omosehin over allegations contained in petitions before the EFCC. The group alleged that NAICOM imposed an unlawful one per cent capital-injection fee, required insurers to place capital funds in CBN escrow accounts, and collected about ₦180 million for consultants allegedly not engaged. These claims have not been established by a court or the EFCC. It said NICON Insurance and Nigeria Reinsurance Corporation petitioned the EFCC, the Finance Ministry and the Presidency over NAICOM’s recapitalisation process. The coalition urged an independent investigation and public disclosure of all recapitalisation-related fees, warning that the dispute could further weaken confidence among policyholders and investors.
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