Reps start probe into NigComsat’s N180.9m insurance coverage premium

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The Chairman of the Committee, Rep Darlington Nwokocha demanded that NigComsat should submit all paperwork on insurance coverage transactions on the undertaking inside seven days.

Nwokocha raised issues over alleged irregularities surrounding the unilateral appointment of the insurance coverage brokers with out recorded due course of.

In response to the chairman, the committee’s investigation is premised on six petitions written by involved Nigerians throughout the insurance coverage business.

The rep stated that the investigative listening to was geared toward unravelling points bothering on infractions, impunity perpetuated by the operator who allegedly influenced the contract.

He stated that the committee was additionally taken with revealing all monetary recklessness entrenched within the multi million greenback satellite tv for pc contract.

Responding, NigComSat Managing Director/CEO, Mr Abimbola Alale stated that the Chinese language firm that manufactured the satellite tv for pc unilaterally stuffed the Lead Insurance coverage type.

He stated that the Chinese language companions nominated the UK based mostly insurance coverage agency to insure NigComsat 2, which was launched in 2014.

Additionally, the Managing Director of Fasahal Insurance coverage firm, one of many insurance coverage corporations, Mr. Frederic Adejo affirmed that he was not a chartered Dealer.

He disclosed that NigComSat launched him to the Lead Insurance coverage agency.

On his half, the Managing Director of A & G Insurance coverage firm, Mr. Abiola Ajibowu, knowledgeable the committee that every one related paperwork required had been transmitted.

In response to him, the one proof of the contract is the coverage doc, which incorporates the worth of the asset, premium paid and the interval of the insurance coverage coverage.

The lawmakers demanded for financial institution statements on all of the transactions and the schedule insurance coverage coverage.

Supply: Pulse Nigeria.

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