The National Insurance Commission on Friday confirmed it has taken over the management of Unic Insurance Plc to re-position the company for better performance.
Rasaq Salami, NAICOM’s spokesman, said the takeover became imperative to rescue the company from distress.
Salami said the commission had subsequently appointed an interim board to manage the affairs of Unic
Insurance Plc for the next six months.
The interim board is made up of Samuel Ordu as chairman, Theophilus Eke as managing director, Ifeyinwa Momah and Nicholas Shaiyen.
“The commission gave Ordu and his team six months to do a forensic audit on the financial position.
“Forensic audit would be carried out on the corporate governance failures observed in the course of reviewing the financial statement of the company,” Salami said.