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Court upholds order restraining NAICOM from suspending Guinea Insurance

By Rosemary Onuoha

A Federal High Court sitting in Abuja has upheld an earlier order restraining the National Insurance Commission (NAICOM) from suspending Guinea Insurance Plc over underwriting of new insurance businesses.

NAICOM office

The Court upheld the order against NAICOM in a suit that was filed by Guinea Insurance with suit No: FHC/ABJ/CS/151/2019. At the resumed hearing last week, Ebere Okonkwo, counsel to Guinea Insurance, informed the court that NAICOM 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”

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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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