The National Insurance Commission (NAICOM) has petitioned the Inspector-General of Police (IGP) over what it described as the unlawful activities of some individuals claiming to be the management of Niger Insurance Plc.

Aside from the petition, NAICOM is also insisting that the company’s licence remains cancelled and that only the legally appointed Receiver/Liquidator has the authority to manage its affairs.

The Commission said It took the action after the group allegedly attempted to interfere with the company’s assets, which are meant to be used to pay verified insurance claims and other outstanding obligations owed to policyholders and creditors.

In a statement issued by its management, NAICOM advised members of the public, former policyholders and other stakeholders not to have any dealings with anyone claiming to represent Niger Insurance Plc apart from the Receiver/Liquidator, Otunba Sanya Ogunkuade.

According to the Commission, the company remains in receivership and is prohibited from selling or underwriting any new insurance business.

It explained that the Receiver/Liquidator was appointed after the company’s insurance licence was cancelled in 2022 because of its inability to meet its financial obligations, particularly the payment of verified insurance claims.

NAICOM said the Receiver has continued to carry out his legal responsibilities by selling the company’s assets where necessary and using the proceeds to settle verified claims and other liabilities while the winding-up process continues.

The Commission disclosed that it had formally reported the activities of the self-acclaimed management to the Inspector-General of Police because they were allegedly trying to take control of or dispose of company assets outside the legal process.

It warned that such actions could affect the recovery of funds meant to settle genuine claims and other obligations owed by the company.

“NAICOM has formally petitioned the Inspector-General of Police regarding the unlawful activities of individuals who continue to parade themselves as the management of Niger Insurance Plc,” the statement said.

It added that, “The Receiver/Liquidator has continued, and will continue, to discharge his statutory responsibilities through the payment of verified claims and settlement of the company’s obligations.”

The Commission also dismissed publications circulated by the group in some national newspapers on July 15, 2026, describing them as false and capable of misleading the public.

NAICOM explained that as the statutory regulator of Nigeria’s insurance industry, it alone has the legal authority to issue, regulate or cancel the licence of any insurance company operating in the country.

Giving details of the legal dispute surrounding the company, the Commission recalled that after Niger Insurance’s licence was cancelled in 2022, some former directors went to the Federal High Court to challenge both the cancellation and the appointment of the Receiver/Liquidator.

According to NAICOM, the court struck out the case in January 2023 after ruling that the former directors no longer had the legal authority to sue on behalf of the company because a Receiver had already been appointed and registered with the Corporate Affairs Commission.

The Commission said the Court of Appeal later dismissed an appeal filed by the former directors in February 2025, while a further appeal before the Supreme Court is still pending.

NAICOM also said the same group later filed another suit before a different judge of the Federal High Court, leading to a judgment delivered in June 2026, which they have relied upon in their recent publications.

However, the Commission said both it and the Receiver/Liquidator have already appealed that judgment and filed applications seeking to stop its enforcement pending the outcome of the appeal.

It maintained that the June 2026 judgment could not override the earlier Court of Appeal decision that upheld the cancellation of Niger Insurance’s operating licence.

The Commission further disclosed that some former directors whose names appeared as plaintiffs in the latest case had written to it, claiming they neither authorised nor knew about the lawsuit.

NAICOM stressed that the former Board of Directors and management of Niger Insurance no longer exist in law, following the cancellation of the company’s licence and the appointment of the Receiver.

It therefore urged stakeholders to deal only with the Receiver/Liquidator on all matters relating to the company’s assets, claims and outstanding liabilities.

“The licence of Niger Insurance Plc remains cancelled, and the appointment of the Receiver/Liquidator subsists,” the Commission said.

It added, “Stakeholders and members of the general public are strongly advised to distance themselves from any person or group purporting to act for or on behalf of the Company, other than the lawfully appointed Receiver/Liquidator.” (The Nation)

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