The National Insurance Commission (NAICOM) has cancelled the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 , effective 21st June 2022.
Following the development, the NAICOM has appointed Sanya, Ogunkuade (Esq) and Kehinde Aina (Esq) as the Receivers/Liquidators for Niger Insurance Plc and Standard Alliance Insurance Plc respectively.
Although the Commission did not give any reason for its action, it, however, advised all stakeholders to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action.
In a notice announcing the cancellation and posted by ‘Rasaaq ‘Salami, Head, Corporate Communications and Market Development, for Commissioner for Insurance, NAICOM, he reassured all stakeholders of the Commission’s resolve to protect their interests.
The notice reads: “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”.