NAICOM Issues Regulatory Order on NIGERINS


Tuesday, April 7, 2020 / 1:14 PM / NSE / Header Image Credit: Probitasreport

We wish to inform the Exchange that Niger Insurance Plc upon a meeting scheduled by the National Insurance Commission (the "Commission") with the Board and Management Team of the Company on March 23, 2020, a regulatory order was issued on the Company.

Amongst other discussion made, the following are the orders issued on the Company:

1.     That the Company shall not dispose any of its assets without written approval of the Commission;

2.   That the Company shall submit to the Commission monthly report of its activities together with the monthly Management account; and

3.    That the Management shall invite the Commission to attend all Board meetings of the Company as an observer.

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