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NAICOM Confirms Takeover of Unic Insurance Plc

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The National Insurance Commission (NAICOM) on Friday confirmed it had taken over the management of Unic Insurance Plc to reposition the company for better performance.

NAICOM’s spokesman, Mr Rasaq Salami, said in an interview with the News Agency of Nigeria (NAN) in Lagos that the takeover became imperative to rescue the company from distress.

Salami said the commission had subsequently appointed an interim board to manage the affairs of Unic Insurance Plc for the next six months.

He said the members of the interim board included Mr Samuel Ordu as chairman, Mr Theophilus Eke as Managing Director, Mrs Ifeyinwa Momah and Mr Nicholas Shaiyen.

“The commission gave Ordu and his team six months to do a forensic audit of the financial position.

“Forensic audit would be carried out on the corporate governance failures observed in the course of reviewing the financial statement of the company,” Salami said.

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Abdulrahman Obaje
Abdulrahman Obaje
Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 908 6937 780 or send i-witness report directly to me on news@informavores.com.ng.

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