Chuks Udo Okonta
The National Insurance Commission (NAICOM) says it has observed signs of insolvency in one of the insurance companies that had submitted its 2014 accounts.
Director Supervision NAICOM, Nicholas Opara, disclosed this at a media parley in Ilorin , Kwara State, adding that out of the 40 companies that the commission has received their 2014 accounts, one has manifested signs of insolvency and that the commission is properly examining the accounts to ascertain the true state of the company.
"Out of the 40 companies that we have looked at, only one is showing signs of insolvency. I have asked my people to do all that is necessary so that we would not declare a company that is solvent an insolvent," he said.
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