Yemisi Izuora/Joseph Bakare
Shareholders Association of Nigeria has complained bitterly over charges prescribed by the country’s insurance regulator, the National Insurance Commission (NAICOM).
The association also complained about alleged corruption in the NAICOM.
Tthe shareholders operating under the aegis of Dynamic Shareholders Association Nigerian (DSAN) called on the federal government to review excessive charges by the body on insurance companies.
The group at a press conference in Ibadan, Oyo state capital, said “As stakeholders in the economy, we feel we have a responsibility to call the attention of government to an observable anomaly which has all trappings of corporate corruption being perpetrated by NAICOM.”
According to the group, the unwholesome charges on insurance companies by NAICOM are not only killing the public quoted companies but adversely affecting the prospect of good investments in the industry in general.