Sunday, June 20, 2021

    NAICOM denies sanction report on 14 insurance firms over 2017 account

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    Ejiro Lucky
    Obodo Ejiroghene Lucky [Chief Economist] Mr. Ejiroghene Obodo is an economist with over 15 years in Journalism, which cuts across Research and Data analysis. Mr Obodo, a graduate of Columbia University, New York City, with a Degree Journalism Graduate School Field Of Study Citi Journalism Seminar Ejiro was the Online Editor at BusinessDay Media, where he oversees the online editorial department. Proir to this Mr. Ejiroghene Obodo, also known as Lucky, served as a Senior Research Analyst at BusinessDay Research and Intelligence Unit. Prior to this, he was an Analyst at the firm. Ejiro has won series of International awards which includes the most coveted awards Citi Journalistic Award for 2013 See his professional profile listed on Bloomberg

    The National Insurance Commission (NAICOM) has refuted a newspaper report (Not the Nation) that it has sanctioned 14 insurance firms for failing to submit their 2017 financial accounts.

    The Commission in a statement signed by its Deputy Director, Head, Corporate Affairs, ‘Rasaaq ‘Salami expressed shock at the display of ignorance and total lack of knowledge by the report.

    The statement read: “NAICOM has not sanctioned any insurance firm for failure to submit it’s 2017 accounts as claimed in the said news reports.

    “Please note that the deadline for submission of financial reports by the to the Commission in accordance with extant laws is June 30th. Thus, no insurance company could be said to be at default when the year is still in April.

    “The Commission, therefore, urges the Media to seek clarifications on issues they are ignorant of before publishing in order not to mislead the public.”

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