Friday, April 08, 2022 / 3:36 PM / by NGX / Header image credit: Niger Insurance
Niger Insurance Plc notes the publication in some daily newspapers of the intention of our main regulator, the National Insurance Commission (NAICOM), to withdraw the certificate of registration of the Company, the Company hereby confirms that it has received a letter to this effective March 31, 2022.
The Company wishes to state categorically that the letter received is an expression of NAICOM’s intention to withdraw the certificate and is based on certain operational issues for which the Company has had time to explain its position and make withdrawal appeal.
Specifically, the letter grants the company 30 days from the date of receipt to appeal the intention and justify to NAICOM, the Minister of Finance, Budget and National Planning, why the certificate should not be withdrawn.
The company’s board and management are working to present a cogent position to NAICOM and the Minister of Finance, Budget and National Planning that the operational issues mentioned in the letter are being addressed. resolved and that the withdrawal of the registration certificate would not be necessary. After reviewing the Company’s current operational levels against the content of the letter, the Company is very optimistic that the intention to withdraw the certificate of registration will be rescinded, upon presentation of the facts on the issues raised and of the current position of the Company.
The Company therefore urges various stakeholders ranging from shareholders, customers and the general public to continue transacting their business with us in the usual manner as it is certain that the issues surrounding the withdrawal would be resolved very soon.
One-year stock price movement
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- Niger Insurance Plc notifies the filing of its results for the financial year 2017 and the first quarter of 2018
- Niger Insurance Plc will hold its 48th general meeting on July 23, 2018
- Niger Insurance Plc announces delay in filing 2017 financial statements
- Niger Insurance Plc: Ringing Ceremony
- Niger Insurance Plc reports a PAT of N190.4 million in the third quarter of 2011.
- Niger Insurance Plc publishes Q2 ’11 and Q1 ’11 with a result of PAT 255.6 million in Q2.