The National Insurance Commission (NAICOM) has dismissed a recent publication alleging a N100 billion fraudulent insurance recapitalisation and the detention of its Director-General and Commissioner for Insurance, Mr. Olusegun Ayo Omosehin.
The commission described the publication as false, misleading and malicious, accusing its promoters of deliberately misrepresenting facts and attempting to damage the reputation of the regulator and its officials.
In a statement, NAICOM said the publication, dated September 9, 2026, was sponsored by promoters of NICON Insurance Plc and Nigeria Reinsurance Corporation, both of which are currently under liquidation.
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The commission said the publication was designed to misinform the public, undermine ongoing regulatory processes and cast aspersions on the integrity of NAICOM and its officials.
“The attention of the National Insurance Commission (NAICOM) has been drawn to a publication titled ‘100 billion fraudulent insurance recapitalisation: EFCC detains NAICOM director and commissioner, both on bail’, published on 9 September 2026, being sponsored by the promoters of NICON Insurance Plc and Nigeria Reinsurance Corporation, both of which are currently under liquidation,” the commission said.
NAICOM maintained that the allegations contained in the publication were unfounded and constituted a deliberate misrepresentation of facts.
