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The Coalition for Good Governance in Nigeria (CGGN) has issued a formal and complete retraction of its earlier statement demanding the resignation or suspension of Mr. Olusegun Ayo Omosehin, Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM).

In a statement dated 29 September 2026 and signed by Salisu Mohammed, the group said the assertions contained in its previous release were inaccurate, incomplete and not supported by verifiable evidence, and that it was therefore withdrawing the statement in its entirety.

“The Coalition for Good Governance in Nigeria (CGGN) hereby issues this formal and complete retraction of its earlier statement calling for the resignation or suspension of Mr. Olusegun Ayo Omosehin,” the group declared.

“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.

“We therefore withdraw the statement in its entirety.”

CGGN specifically withdrew its earlier characterisation of NAICOM’s regulatory actions during the recapitalisation exercise as unlawful.

It also retracted claims relating to alleged unlawful demands, forced transfers of capital into CBN escrow accounts, and the collection of funds for consultants who were never engaged.

The group further abandoned its assertion that Omosehin’s continued presence in office constituted a “clear and present danger” to the insurance sector or an affront to accountability.

“The characterisation of NAICOM’s regulatory actions during the ongoing recapitalisation exercise as unlawful or lacking legal foundation was erroneous,” the statement said.

“Claims relating to alleged ‘unlawful demands,’ forced transfers into escrow accounts contrary to statute, and the collection of funds for consultants who were ‘never engaged’ have been found to be based on incomplete information and misapprehension of the applicable legal and regulatory framework.”

The Coalition expressed regret over any distress, reputational harm or public anxiety its earlier statement may have caused Omosehin, NAICOM staff, insurance operators, policyholders and the general public.

It offered an unreserved apology for publishing claims that subsequent scrutiny had shown to be incorrect.

CGGN stressed that good governance requires not only the courage to raise concerns but also the integrity to correct the record when those concerns prove misplaced.

“The Coalition regrets any distress, reputational harm, or unnecessary public anxiety that the earlier statement may have caused Mr. Omosehin, the management and staff of NAICOM, operators in the insurance industry, policyholders, and the general public,” the group stated.

“We unreservedly apologise for the publication of claims that subsequent scrutiny has shown to be incorrect.

“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.”

As a result, the Coalition formally retracted every demand for Omosehin’s immediate resignation or suspension.

It also withdrew any suggestion that the Minister of Finance and Coordinating Minister of the Economy should take disciplinary action against him on the basis of the earlier petition narrative.

The group reaffirmed its commitment to transparency, accountability and the strengthening of Nigeria’s financial services sector, while recognising the critical role of an independent insurance regulator.

“We therefore retract, without reservation, every demand for the immediate resignation or suspension of the Commissioner for Insurance,” the statement continued.

“We further withdraw any suggestion that the Honourable Minister of Finance and Coordinating Minister of the Economy should take disciplinary action against him on the basis of the earlier petition narrative.”

CGGN said nothing in the retraction diminished its interest in the orderly and lawful conduct of the recapitalisation exercise.

It simply corrected the record where the organisation had previously fallen short.

The Coalition urged all stakeholders to allow the Economic and Financial Crimes Commission, the Federal Ministry of Finance and NAICOM to discharge their statutory mandates without the distraction of unsubstantiated public campaigns.

“The Coalition reaffirms its commitment to transparency, accountability, and the strengthening of Nigeria’s financial services sector,” the group added.

“We recognise the critical role of an independent and professional insurance regulator in protecting policyholders, attracting investment, and safeguarding systemic stability.

“Nothing in this retraction diminishes our ongoing interest in the orderly and lawful conduct of the recapitalisation exercise; it simply corrects the record where we previously fell short.”

In closing, CGGN said the retraction was issued in the public interest and in the spirit of fairness and accuracy that must always guide civic advocacy.

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By Gloria Ikibah

The Federal Government has congratulated the Government and people of Botswana on the country’s 60th Independence Anniversary, praising its progress since gaining independence in 1966.

In a statement issued on Wednesday by the spokesperson for the Ministry of Foreign Affairs, Oluwafemi Adeniyi, the government conveyed Nigeria’s warm felicitations to Batswana as the country marked the milestone.

Nigeria’s congratulatory message was conveyed by the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, on behalf of the Federal Government and people of Nigeria.

The government said Botswana’s journey since independence on September 30, 1966, had been marked by significant progress in nation-building.

“Nigeria recognises the remarkable progress Botswana has made in its nation-building journey since independence on 30 September 1966, and commends its Government and people for their resilience, dedication and courage in advancing national development over the decades,” the minister said.

Nigeria described its relationship with Botswana as longstanding, cordial and mutually beneficial, built around shared values and interests, mutual respect and a commitment to democratic governance, the rule of law and fundamental freedoms.

According to the statement, bilateral relations between both countries have expanded over the years across political, economic and socio-cultural spheres.

The relationship has also been supported by institutional engagement and growing people-to-people exchanges, particularly through the Nigeria-Botswana Joint Permanent Commission for Cooperation.

At the multilateral level, Nigeria said it continued to work closely with Botswana within the United Nations, African Union and Commonwealth of Nations.

It said both countries had contributed to efforts aimed at promoting international peace and security, sustainable development and a stronger multilateral system.

Nigeria also reaffirmed its commitment to strengthening its friendship and solidarity with Botswana while deepening bilateral cooperation in areas of mutual interest.

The Federal Government extended its best wishes to Botswana’s President, Advocate Duma Gideon Boko, as well as the government and people of the country.

Odumegwu-Ojukwu wished Botswana continued “peace, stability, prosperity and progress” as it entered a new chapter of its post-independence journey.

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By Emmanuel Sanders Agaji

President Bola Ahmed Tinubu has declared that Nigeria has moved beyond its most difficult phase of economic reforms and is entering what he described as an “age of prosperity.”

Tinubu made the declaration in his Independence Day address to Nigerians on Thursday, October 1, as the country marks its 66th anniversary of independence.

The President said his administration had taken difficult decisions over the past three years to address what he described as deep-rooted economic distortions, insisting that the reforms were necessary to reposition the country for sustainable growth.

According to him, Nigeria’s journey since independence has been marked by war, military rule, economic crises, insecurity and political upheaval, but the country has endured because of the resilience and determination of its people.

He said independence was not merely about attaining sovereignty, but about creating a country where citizens could shape their own destinies and enjoy opportunity, dignity and a better quality of life.

‘Nigeria was like a sick patient’

Reflecting on the state of the economy when his administration assumed office in 2023, Tinubu likened Nigeria to a sick patient diagnosed with cancer who must choose between painful treatment and temporary relief.

“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said, arguing that successive administrations had avoided difficult decisions while allowing structural economic problems to worsen.

Tinubu said his administration instead chose to “excise the cancer,” acknowledging that the reforms had produced painful side effects but insisting that they were different from the problems they were designed to address.

He specifically defended the removal of fuel subsidies and other economic measures, saying the government would resist calls to return to what he described as “addictive subsidies.”

Economy has improved, Tinubu claims

The President said the reforms had begun producing measurable improvements, citing economic growth of more than four per cent, reduced oil theft, lower inflation compared with its peak, rebuilt foreign reserves and greater stability in the foreign exchange market.

He also said Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing it as the highest in the country’s history.

“These are not idle claims,” Tinubu said, adding that international institutions and the private sector had recognised improvements in Nigeria’s economic stability and resilience.

He declared that the country had now reached “a turning point,” saying the immediate task of correcting the economic course had given way to the broader goal of achieving shared prosperity.

‘Now begins the age of prosperity’

According to Tinubu, the next phase of his administration will focus on reducing the cost of living, expanding agricultural production, creating jobs and strengthening industrial growth.

He said the government would invest in mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, agricultural mechanisation, storage and transportation.

The President also highlighted ongoing investments in roads, railways and ports, saying better infrastructure would help reduce the cost of moving goods from farms and factories to markets.

“Our priority is to bring down the cost of living,” he said, adding that this would be achieved by reducing the cost of producing and transporting goods.

Jobs, industries take centre stage

Tinubu said his administration would place jobs, enterprise and industrial expansion at the centre of its economic agenda.

He pledged to leverage Nigeria’s gas resources to power industries, support the revival of factories, expand digital connectivity and provide Nigerians with skills required by employers.

“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities.