The National Insurance Commission, Naicom, has taken the bold step to finally cancel the licences of registrations of Niger Insurance and Standard Alliance Insurance after effort to resuscitate the companies failed.

The Commission in a statement released by the Head, Corporate Communications and Market Development, Mr Rasaaq Salami said that  “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 as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq of Aina Blankson LP 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.