Business Hilights
Tracking Nigeria's Headline Business News Online

Anxiety as Reps summon Ali for allegedly paying unlicensed brokerage firms N250m

The House of Representatives Committee on Insurance has summoned the Comptroller General of Nigeria Customs Service (NCS), Col. Hameed Ibrahim Ali (rtd) for allegedly paying over N250 million to unlicensed brokerage firms.

The House Committee on Insurance led by Adekunle Akinlade Abdulkabir probing allegations of wrongdoings between insurance outfits and ministries, departments and agencies (MDAs) of government from 2013 to 2015, gave the directive to clear the allegations.

The summon was issued during an interactive session with the Managing Director/ Chief Executive Officer of Guinea Insurance Plc, Mrs. Isioma Omoshie-Okokukuwas at the National Assembly, Abuja.

Indications were rife that for some time now, the lawmakers are wondering why the customs deliberately refused to make submissions to his committee on the issue.

Leader of the Committee further explained that the customs chief is expected to appear before the committee on Wednesday this week to explain why his outfit paid out over N250 million commission to Fortis, an unlicensed brokerage firm in defiance of laid down rules guiding the insurance sector during the period under review.