Insurance WorldJudiciary

Again, Court Upholds Order Stopping NAICOM From Disenabling New Businesses Pursuit By Guinea Insurance 

PRESS RELEASE–Again the Federal High Court sitting in Abuja had on Monday, February 18, 2019 further upheld an earlier granted order restraining the National Insurance Commission (NAICOM) from suspending Guinea Insurance Plc from underwriting new insurance businesses; in a suit that was filed by Guinea Insurance with suit No: FHC/ABJ/CS/151/2019 against NAICOM on February 6, 2019.

At the resumed hearing on Monday, Ebere Okonkwo, counsel to Guinea Insurance PLC, informed the court that the Commission did not appear in Court despite being served the Motion on Notice and a copy of the Court’s Order dated February 8, 2019 restraining the Commission from taking any step whatsoever against Guinea Insurance concerning the “compliance with directives contained in the letter dated January 28, 2019“ pending the hearing and determination of the Motion on Notice”

The Court ordered parties to maintain status quo ante and consequently adjourned the suit to February 26, 2019 for further hearing of the Motion on Notice.


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