NAICOM Sanctions Niger Insurance, Standard Alliance , Withdraws Licenses

The National Insurance Commission (NAICOM) has withdrawn the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029.The cancellation of the certificates took effect from June 21, 2022.A statement from NAICOM in Abuja said: “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”

“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.

”The insurance regulator advised stakeholders “to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action”.

‘Rasaaq ‘Salami Head, Corporate Communications and Market Development of NAICOM told Nation that “additional information will be released in due course” when to give the reason(s) for the certificate cancellations.

He, however said, “all stakeholders of the safety and protection of their interests.”