The National Insurance Commission said it will spare no stone on turned to sweep clean persons that have command and control lever or any level of influence in insurance companies that are not stated as staff of the company.
The Commission said its current position is clear that the red flag has been raised for persons using their unapproved privilege positions to abuse corporate governance in companies where such influence exists.
This charge was reeled out on Friday, November 4, 2022 in Lagos by the Commissioner for Insurance, Mr. Sunday Thomas, at the seminar it hosted for insurance journalists. In a manner that suggest that the issue has crossed the red line, Thomas said the next phase of inspection which is following after would bring the sanity expected to companies involved.
In clear tone the CFI said in course of subsequent inspection, aby person not stated in the company’s work force and is participating in the affairs of the company will be banned from having any links whatsoever with the company.
Besides the ban, Thomas said such persons will not be recommended to any position of responsibility. According to him NAICOM has zeroed in on their abuse of corporate governance. Reiterating NAICOM’s resolve to end their influence, the insurance Czar said such persons cause problems and abuse corporate governance rules.