NAICOM refutes media reports
The insurance industry’s regulatory authority, National Insurance Commission (NAICOM) has refuted reports in the Media that it has sanctioned 14 insurance companies for failing to submit their 2017 financial accounts.
A statement in Lagos today by the Commission’s Deputy Director/Head, Corporate Affairs, Rasaaq Salami, said the Commission is shocked at this display of ignorance and total lack of knowledge by these media (not www.therevealerng.com).
According to him, “NAICOM hereby states that it has not sanctioned any insurance company for failure to submit it’s 2017 accounts as claimed in the said news reports.
“Please note that the deadline for submission of financial reports by insurance companies to the Commission is June 30th. Thus, no insurance company could be said to be at default when the year is still in April.
The Commission therefore urges the Media to seek clarifications on issues they are ignorant of before publishing in order not to mislead the public.”
It would be recalled that some media including print and online platforms were awash with the story that the commission has sanctioned some insurance companies for failure to summit their 2017 financial accounts.
