Business News
NAICOM Restates Deadline For Financial Accounts Submission Expires June 30
Chief Executive Officer NAICOM, Kari
The National Insurance Commission (NAICOM) has reminded insurance companies of the deadline for the submission of 2017 financial accounts which expires June 30, 2018, in line with existing regulations.
It said following the deadline which remains two clear months to elapse, no insurance company has been sanctioned for failure to comply until after the expiry.
NAICOM said the explanation and reminder became necessary against the backdrop of recent reports which suggested that the Commission had sanctioned 14 insurance companies for failure to submit their respective 2017 financial reports.
A statement by the NAICOM Head of Corporate Affairs, Rasaq Salami said: “The Commission is shocked at this display of ignorance and total lack of knowledge by these media.
” NAICOM hereby states that it has not sanctioned any insurance company for failure to submit it’s 2017 accounts as claimed in the said news reports.
“Please note that the deadline for submission of financial reports by insurance companies to the Commission in accordance with extant laws is June 30th.”
Saying that no insurance company could be said to have defaulted, he urged the Media to seek clarifications on issues of doubt before publication in order to avoid misleading the public.
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