The House of Representatives has flagged off investigation into the non-remittance of multi-billion-naira revenue belonging to the Federal Government, by 25 erring insurance companies operating across the country.
Chairman of the Sub-Committee on Capital Market and Other Institutions, Kwamoti Laori, disclosed this during a meeting with the management of insurance companies at the National Assembly Complex in Abuja.
According to the sub-committee chairman, the 25 insurance companies allegedly involved in the financial infractions are: International Energy Insurance, LASACO Assurance, Consolidated Hallmark, Guinea Insurance and AIICO Insurance.
Others are Axa Mansard, Mutual Benefit Assurance, Linkage Assurance, Prestige Assurance, NEM Assurance, Sunu Assurance, Regency Assurance, Veritas Capital Assurance, Universal Insurance, Coronation Trust Insurance, Sovereign Trust Insurance, Cornerstone Insurance, Custodian PLC, Alliance & General, Industrial & General, Goldlink Insurance, and African Alliance.
While expressing displeasure over the absence of the Chief Executive Officers of the 25 insurance companies invited by the subcommittee, Laori vowed that the House would not leave any stone unturned in its quest to complement President Bola Tinubu’s resolve to shore up revenue for the country.
