NAICOM Revokes Licences of Niger Insurance, one other




By Tony Obiechina, Abuja

The National Insurance Commission (NAICOM), has revoked the operational licences of Niger Insurance Plc and Standard Alliance Insurance Plc with effect from 21st June, 2022.

This was contained in a statement by the Head of Corporate Communications and Marketing of NAICOM, Mr Rasaaq Salami in Abuja on Tuesday.

The statement which did not give reasons for the action however said it has appointed two auditing firms for the companies as the Receiver/Liquidators for the two Insurance companies.

The statement reads in full: “This is to notify all insurance stakeholders and members of the public that the 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 the 21st day of June, 2022.

“Consequently, 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 and, Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos as the Receiver/Liquidator for Standard Alliance Insurance Plc.

“All stakeholders are advised to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action.

“The Commission assures all stakeholders of the safety and protection of their interests”.

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