Nigeria’s Insurance Industry regulator, the National Insurance Commission, NAICOM has revoked the operating licences of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June, 2022.
In a statement by Rasaaq ‘Salami, Head, Corporate Communications and Market Development, the Commission, said,”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.” the statement added.