NAICOM SACKS BOARD AND MANAGEMENT OF AFRICAN ALLIANCE INSURANCE
The National Insurance Commission (NAICOM) has sacked the board and management of African Alliance Insurance Plc and appointed a 6-man team to turn around the company within one year.
The Commissioner for Insurance Olusegun Omosehin, disclosed this at a press conference in Lagos, adding that in the exercise of its regulatory powers, the National Insurance Commission has sacked the Board and Management of African Alliance Insurance Plc, one of Nigeria’s oldest life assurance companies, following years of insolvency and failure to meet the obligations of annuitants and policyholders.