Court orders NICON Insurance Head of Directors to give seven years account to liquidator

The Federal High Court successful Abuja has ordered Head of Directors of the National Insurance Corporation of Nigeria, NICON, to springiness relationship of their roles successful the liquidated institution successful the past 7 years to the liquidator arsenic portion of the bid to sphere the company’s assets.

The preservation bid by the tribunal arose from a petition marked: FHC/ABJ/PET/18/2026 filed by a Senior Advocate of Nigeria, SAN, Chukwuma-Machukwu Ume,  who is the liquidator of country’s biggest security firm.

NICON owned by the Federal Government is being liquidated by the Insurance Regulatory Commission pursuing its inability to conscionable prescribed conditions to exist.

To guarantee compliance with the bid of the court, Ume successful his capableness arsenic the undertaker of the collapsed security firm,

has deposed to an affidavit and served aforesaid connected the affected Head of Directors to guarantee punctual compliance.

The Heads of Directors served with the Court bid are the Managing Director/Chief Executive Officer, Mr Gbadebo Taiwo Oladejo and Arorote Williams the Company Secretary.

Others are Apata Abayomi Olorunmbe, Abah Simon Joe, Ibrahim Abdulkarim Ozi, .Michael Magagi, Tawose Olufolake Bolanle, Okoh Alex and Ibrahim Jimoh.

The remainder are Dahiru Modibbo Ahmed, Ojo Stephen Abiodun, Arowoyele Segun and Dikko Lamis Sheh...