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NAICOM Cancels Licenses Of Niger Insurance, Standard Alliance Insurance

The National Insurance Commission, on Tuesday cancelled the Certificates of Registration of Niger Insurance Plc and Standard Alliance Insurance Plc.

The apex regulator of the insurance industry revealed this in a statement signed by the Head, Corporate Communications and Market Development, ‘Rasaaq ‘Salami.

Following the cancellation of the license, the Commission said in the statement that it has appointed Sanya, Ogunkuade Esq as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq as the Receiver/Liquidator for Standard Alliance Insurance Plc.

The statement 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.”

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