NICON Insurance Directors Ordered to Account for Assets
The Federal High Court has mandated the directors of NICON Insurance Limited (In-Liquidation) to provide a comprehensive account of the company's assets. This order was issued following a petition marked NO: FHC/ABJ/PET/18/2026 filed by Chukwuma-Machukwu Ume SAN, the Receiver/Liquidator, in relation to the company's winding up, with a hearing set for September 21, 2026.
The directors, including Managing Director/CEO Gbadebo Taiwo Oladejo and Secretary Arorote Williams, among others, are required to disclose all assets, vehicles, funds, investments, and transactions under their control. They must complete an Assets, Accounts, and Transactions Disclosure Schedule under oath, supported by relevant documents such as bank records and investment statements.
The court's order aims to prevent the dissipation of the company's assets and requires full cooperation with NAICOM and the Federal Government to ensure the integrity of the insurance sector.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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