Speaker Abbas seeks dismissal of insurers' CEOs' lawsuit over N98 billion probe

Speaker of the House of Representatives, Abbas Tajudeen, has requested the Federal High Court in Abuja to dismiss a lawsuit brought by the Nigerian Insurance Association (NIA) and 17 insurance companies regarding a probe into a N98.4 billion liability. The insurers, represented by their CEOs, are challenging the legality of the probe and resisting a summons from the House committee on capital markets.

The court case is ongoing, with a hearing scheduled for December 9, 2025. Earlier, Justice Emeka Nwite had granted a restraining order in favor of the insurers.

The insurers risk arrest if found guilty of financial misconduct.