BY CHUKS OLUIGBO
Nigeria’s insurance industry regulator, National Insurance Commission (NAICOM), has cancelled the certificates of registration of Standard Alliance Insurance Plc (RIC – 091) and Niger Insurance Plc (RIC – 029) with effect from June 21, 2022.
The commission has also appointed receivers/liquidators for the two companies, according to a statement from the industry regulator.
“The Commission has appointed Sanya, Ogunkuade Esq of Plot 217, Upper Grace Plaza, 3rd Floor (Left Wing), Shetima Munguno Crescent, Behind Julius Berger Equipment Yard, Utako, Abuja as the Receiver/Liquidator for Niger Insurance Plc,” NAICOM said in the statement issued in Abuja.
”Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos has been appointed the Receiver/Liquidator for Standard Alliance Insurance Plc,” it said.
The insurance industry regulator advised stakeholders “to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action”.
No reason has been given for the action. However, The Nation quoted Rasaaq ‘Salami, head, Corporate Communications and Market Development of NAICOM, as saying that the commission would release additional information in due course regarding the reason(s) for the certificate cancellations.