NAICOM Dissolves Goldlink Board

Yemisi Izuora
NAICOM House
National Insurance Commission (NAICOM) has dissolved the Interim board of Goldlink Insurance Plc and in its place reconstituted a three man Interim Board management to oversee the affairs of the Company.

On October 31, 2012, NAICOM took over the management of Goldlink and also constituted a seven-man interim board of directors to oversee the affairs of the company for six months after the commission observed irregularities in the company’s 2011 financial account.

The interim board has Mr. James Olatunde Ayo, former Managing Director of Royal Exchange Assurance Plc as Chairman and Mr. Gbolahan Olutayo as the Managing Director.

The interim board was charged with the responsibility of carrying out full investigation of the financial reports and corporate governance failures observed in the course of reviewing the company’s financial statement for the year ending December 31, 2011.

The interim board is still in charge of the insurance outfit.

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