NAICOM Vs A&G Insurance Company case; Court strikes out suit

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NAICOM Vs A&G Insurance Company

From Benjamin a ameh, Lagos

The Federal High Court of Lagos under Justice Okon Abang has struck out the charges against the Commissioner for Insurance, Mr. Fola Daniel, over alleged misrepresentation of facts involving A&G Insurance Company.

The National Insurance Commission NAICOM on Friday stated that, the suit which was instituted by the Attorney-General of the Federation, Mohammed Adoke, following complaints by A & G Insurance against the CFI.

A & G Group’s counsel, G.C Ndubuisi and Co, on July 5, 2012 had applied to the AGF for fiat against Daniel in an application titled “Unlawful prohibition order issued by NAICOM against our client’s companies-Alliance and General Life Assurance Plc, Alliance and General Insurance Limited and Fidelity Bond Insurance brokers.”

According to the statement, the AGF responding through A Adewumi-Aluko, a senior state counsel in a letter dated September 5, 2013 and referenced DPPA/FIAT/071/13, declined the fiat and noted, “I am directed to inform you that your application for fiat has been declined by the AGF and the Minister of Justice. He has further directed that the Department of Public Prosecution takes over the prosecution of the matter.”

NAICOM noted that at the last sitting of the court on Thursday, the Director, Public Prosecution of the Federation, Akin Akintewe, applied to withdraw the charges against Daniel.

The application, it said, was based on the constitutional powers vested on the AGF to institute and discontinue criminal cases


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