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NIIRA: Parliamentary group, CSO applaud NAICOM Commissioner over transparent implementation
***say insurance sector witnessing positive revolution
A parliamentary group and civil society organisation on Thursday applauded the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, for what it described as the transparent implementation of the Nigerian Insurance Industry Reform Act, 2025, saying the insurance sector is witnessing a positive revolution under the new law.
Speaking at a world press conference in Abuja, the Parliamentary Support Network said NIIRA 2025, signed by President Bola Ahmed Tinubu, had moved from legislation to implementation through recapitalisation, stronger policyholder protection and renewed enforcement of compulsory insurance.
In a statement signed by Amb. Muhammad Abdulrazaq and Comr. Adams Umoren, the group said: “We also recognise the role being played by the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr Olusegun Ayo Omosehin, in the implementation of the reforms.
“The Parliamentary Support Network therefore considers his industry experience relevant to the task before NAICOM at a time when the sector is undergoing significant regulatory and structural change,” it added.
The group said Mr Omosehin brings more than three decades of experience spanning underwriting, risk management, corporate restructuring and insurance administration, including service as Managing Director and Chief Executive Officer of Old Mutual Nigeria Life Assurance Company Limited and as Chairman of the Nigerian Insurers Association before his appointment in 2024.
It commended President Tinubu and the National Assembly for enacting the Act, which repealed and consolidated earlier insurance laws and introduced stronger provisions on capital, risk-based supervision, corporate governance, consumer protection and regulatory enforcement.
“We commend President Bola Ahmed Tinubu and the National Assembly for their roles in the passage and enactment of NIIRA 2025,” the network said.
“NIIRA provides a unified legal framework while giving the regulator greater capacity to respond to emerging risks. It also provides for stronger protection of policyholders, including the establishment of the Insurance Policyholders Protection Fund,” the statement continued.
On early gains, the network cited NAICOM’s August 2026 announcement that a twelve-month recapitalisation exercise had been completed, describing it as a major step toward a stronger and more resilient industry.
It also noted the commencement of the Insurance Policyholders Protection Fund and the October 2025 inauguration of a joint committee with the Federal Road Safety Corps to enforce compulsory third-party motor insurance.
The group said the Commission had further engaged government institutions and private-sector stakeholders on products for the maritime, petroleum and agricultural sectors, developments it said showed that the reform was taking practical effect.
“Since the commencement of NIIRA, there have been visible steps towards putting its provisions into effect,” the network said.
“NAICOM announced in August 2026 that the twelve-month exercise had been successfully completed, describing it as a major step towards building a stronger, more resilient and adequately capitalised insurance industry.
“These developments indicate that NIIRA is moving from legislation to implementation,” it added.
The network acknowledged that new capital requirements place heavy demands on operators and that disagreements over fees, compliance and interpretation are inevitable, but insisted that no company should be above regulation and no regulator above scrutiny.
It said disputes should be settled through evidence, due process and institutional accountability rather than media campaigns.
It expressed concern over the cases of NICON Insurance Plc and Nigeria Reinsurance Corporation, both under liquidation after failing to meet minimum capital requirements, and over their petition to the Economic and Financial Crimes Commission alleging irregularities in the recapitalisation process.
NAICOM has rejected the claims and said supplying information requested by the EFCC does not amount to indictment.
“No company should be above regulation. At the same time, no regulator should be above scrutiny. The appropriate response to disagreement is evidence, due process and institutional accountability,” the group said.
“We believe the allegations should be subjected to proper investigation and due process rather than trial by media.
“However, petitions to law-enforcement agencies must not become a mechanism for frustrating the implementation of a law duly enacted by the National Assembly and assented to by the President,” it stated.
In its recommendations, the network urged all operators to comply with NIIRA 2025, called on NAICOM to continue applying the law transparently and without discrimination, and asked the EFCC to examine any properly lodged allegations independently.
It said policyholder protection must remain central and that the industry cannot return to the practices the Act was enacted to end.
The group urged stakeholders to support the lawful implementation of the reform under the leadership of the Commissioner.
“NAICOM should continue to apply the law transparently, consistently and without discrimination. Regulatory decisions should be supported by clear documentation and communicated appropriately to affected stakeholders,” the network said.
“We urge all stakeholders, including the leadership of NAICOM under Commissioner for Insurance Mr Olusegun Ayo Omosehin, to remain focused on the implementation of the law, protection of policyholders and strengthening of the Nigerian insurance industry.
“With institutional discipline and respect for the law, the Nigerian insurance industry can emerge stronger, more resilient and better positioned to serve the Nigerian economy,” it concluded.
News
FJF Backs NSCDC Probe into Niger Miners’ Deaths, Cautions Diaspora Group Against Protest
The Freelance Journalist Federation (FJF) has expressed confidence in the committee investigating the reported deaths of 37 miners in Niger State, urging the public to allow the panel to conclude its assignment without undue pressure.
The federation’s position followed threats by the Nigeria Diaspora Organizations and Community for Human Rights (NDOCHR) to stage a protest at the headquarters of the Nigeria Security and Civil Defence Corps (NSCDC) in Abuja over alleged delays in releasing the investigation’s findings.
FJF in a statement issued on Friday and jointly signed by FJF conveners Ibrahim Ali, Jonathan Modi, Okpara Isaac and Christopher Abah, described the investigative process as transparent and thorough, insisting that sufficient time should be allowed for the committee to complete its work and establish the facts surrounding the incident.
The federation criticised the proposed demonstration, describing it as unnecessary and politically motivated, while warning against actions that could heighten tensions over an issue involving the loss of human lives.
It also commended the leadership of the NSCDC, the Minister of Interior and President Bola Ahmed Tinubu for what it described as their commitment to transparency, accountability and the rule of law.
According to the FJF, local civil society organisations monitoring the proceedings have expressed satisfaction with the panel’s conduct. However, the federation maintained that the investigation should be allowed to run its course before conclusions are drawn.
The group also rejected calls by the diaspora organisation for the immediate removal and prosecution of the NSCDC Commandant-General, Dr Ahmed Abubakar Audi, describing the demands as premature and inconsistent with the principle of fair hearing.
It argued that calls for sanctions before the conclusion of the investigation could undermine due process and prejudice public perception of the committee’s work.
The NDOCHR had also threatened to petition the International Criminal Court (ICC) in The Hague over the matter. In response, the FJF maintained that Nigeria’s domestic legal and investigative institutions should be allowed to address the allegations through established procedures.
The federation urged Nigerians in the diaspora to exercise restraint and avoid actions that could inflame political tensions or interfere with the ongoing investigation.
It urged members of the public to remain calm and await the committee’s official findings, stressing that a thorough investigation was necessary to establish the circumstances surrounding the reported deaths and determine any responsibility arising from the incident.
The committee’s final findings and any subsequent official actions are expected to be central to resolving the concerns surrounding the incident.
The statement further called on the Inspector-General of Police and other security agencies to take appropriate steps to maintain public order in the Federal Capital Territory.
News
Nasarawa Suffering Multidimensional Poverty, Says Ombugadu
The governorship candidate of the Peoples Democratic Party (PDP) in Nasarawa State, Dr David Emmanuel Ombugadu, has lamented what he described as the multidimensional poverty confronting residents of the state, citing poor schools, bad roads, a weak healthcare system and high youth unemployment.
Ombugadu stated this on Tuesday during his campaign rally in Keana Local Government Area, where he outlined his development priorities and promised to address the challenges if elected governor in the 2027 governorship election.
He argued that the condition of public infrastructure, inadequate access to quality healthcare and education, and the high number of unemployed youths had compounded the difficulties facing residents, insisting that the state needed a development approach that directly improved the people’s living conditions.
The PDP candidate said his administration would prioritise road infrastructure, education, healthcare and employment generation, with a focus on communities whose development needs had remained pressing.
He also promised to promote tourism by reviving traditional festivals and exploiting the state’s cultural heritage to create economic opportunities for residents.
Ombugadu specifically pledged to revive the Arago Fishing Festival and other traditional fishing festivals, saying the initiative would help attract visitors, promote local culture and stimulate economic activities in host communities.
He said tourism could become an important source of income and employment if the state’s cultural attractions were properly developed and promoted.
On road infrastructure, the governorship candidate promised to improve connectivity between communities in Nasarawa State and neighbouring states, including Plateau, Taraba and Benue.
He explained that the proposed roads would enable communities separated by state boundaries to reconnect with their kinsmen, while facilitating the movement of people, agricultural produce and other goods.
Ombugadu cited communities with cultural, family and economic ties across state boundaries, including Tiv communities in Awe Local Government Area, arguing that improved road networks would strengthen those relationships and expand commercial activities.
He described the proposed projects as part of a border-community development policy intended to reduce isolation, improve accessibility and encourage cooperation between neighbouring populations.
The PDP candidate maintained that infrastructure development should extend beyond major towns to rural communities, where poor road networks can restrict access to markets, schools, healthcare facilities and other essential services.
He also linked the proposed development agenda to the need to create more opportunities for young people, who he identified as among those most affected by the state’s economic challenges.
Ombugadu urged residents to support the PDP in 2027, presenting his proposed interventions as a pathway towards improving living standards and addressing the development challenges he highlighted at the rally.
News
2027: PDP promises jobs for youths, business support for women
From Zwanke Zwanke, Lafia
Job creation for youths and support for women-owned businesses have emerged as key promises of the Peoples Democratic Party (PDP) in Nasarawa State as the party begins its campaign tour ahead of the 2027 governorship election.
The party made the pledge on Monday in Awe Local Government Area, where its governorship candidate, Dr David Emmanuel Ombugadu, and other candidates commenced the local government campaign tour.
The Acting Chairman of the PDP Campaign Council, Mr Mark Ogbole, said a PDP administration would create employment opportunities for young people and support women in business to improve household incomes and economic security.
He said the party was seeking the people’s mandate to serve them and address their concerns, rather than abandon them after winning elections.
Ogbole said the decision to begin the campaign in Awe reflected the party’s intention to conduct a peaceful campaign across Nasarawa State.
Earlier, Ombugadu promised to prioritise security and infrastructure development if elected governor in 2027.
He said residents, particularly farmers, must be able to access their farms and pursue their livelihoods without fear of attacks, adding that security would be the foremost priority of his administration.
On infrastructure, the PDP candidate pledged to construct and rehabilitate roads linking communities within the state and improving connections with neighbouring states.
He specifically mentioned the road linking Akiri to Plateau State and routes connecting Nasarawa with Benue, Taraba and Plateau states.
Ombugadu also promised to pursue the proposed Wuse-Taraba road link and other rural roads to improve transportation, facilitate trade and open up communities for economic activities.
He said his administration would develop local tourism, citing the Hunkuyi Fishing Festival and Awe Hot Spring as attractions with the potential to generate revenue and create employment opportunities for residents.
The candidate assured the people that the development plans and campaign promises presented in 2019 and 2023, alongside those being made ahead of the next election, would be implemented if he secured the mandate.
The state PDP Chairman, Dr Daniel Gimba, described the campaign flag-off as a demonstration of the party’s determination to provide what he called purposeful leadership and address the hardship facing residents.
He expressed confidence that the PDP would win the election overwhelmingly if the process was not rigged.
“Today is a historic and remarkable day. We have chosen to start our local government tour, marking our victory coming in 2027 by the grace of God. 2027, there is no going back,” Gimba declared.
Also speaking, the PDP senatorial candidate for Nasarawa South, Dr Mike Omeri, thanked party members and supporters for their confidence in the candidates.
“Together with you, we will campaign to win the election, and we will win this election,” Omeri said.
Editorial distinction
Version 4 approaches the campaign from the perspective of tourism, investment and alternative revenue generation.
Version 5 focuses on employment, women’s economic empowerment and social welfare, while retaining security and infrastructure as supporting issues.
My recommendation: Use Version 4 for a development-focused political report and Version 5 for a separate story on the PDP’s proposed social and economic agenda.
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