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By Rukayat Adeyemi Dec. 31,2020 The National Insurance Commission (NAICOM) on Thursday said that it would comply with court order to suspend the ongoing recapitalistion of the insurance industry. The deadline for the first phase of the exercise had been put at Dec. 31, 2020. “You are aware that the issue is in court and there is an interim order of the court. ” NAICOM being a responsible and law abiding organisation will respect the order of the court, ” Mr Rasaq Salami, spokesperson to NAICOM confirmed in a telephone interview with the News Agency of Nigeria (NAN) in Lagos. Justice C. J. Aneke of the Lagos Division of the Federal High Court had in a ruling restrained NAICOM from going on with the recapitalisation of insurance and re- insurance companies as proposed.

LagosNigeriaBenjamin kaluRukayat adeyemiJusticecj anekeLagos division of the federal high courtNews agency of nigeriaNational insurance commissionRasaq salamiNews agencyLagos divisionFederal high courtIncorporated trusteesPragmatic shareholder associationLife insuranceலாகோஸ்