A Federal High Court in Lagos has restrained the National Insurance Commission (NAICOM) from liquidating the Standard Alliance Insurance Plc pending hearing and determination of a motion on notice.
Justice Akintayo Aluko issued the order on September 1, while granting the reliefs sought by Dickson Odoko, Donatus Uba and Standard Alliance Limited, who are the plaintiffs/applicants.
The judge also restrained the commission, the first defendant/respondent and a lawyer, Kehinde Aina, the second defendant, from taking any further step towards liquidation or winding up of the insurance firm pending hearing and determination of the motion.
Apart from Aina, other defendants/respondents in the suit are the minister of finance and Awoduya Omotayo.
The applicants had on August 22, 2022 filed a motion on notice before the court, asking for an interim injunction restraining the second respondent, Aina, whether by himself or through his agents, privies or any other person acting under his authority, from acting or further acting as the appointed receiver/liquidator of the insurance firm pending the determination of the motion on notice.
The plaintiffs filed a five-paragraph motion ex-parte and affidavit in support of the motion on notice, in suit No: FHC/L/CS/1585/2022.
Justice Aluko adjourned the matter till September 9 for hearing of the applications.
In June, NAICOM, which is headed by Thomas Sunday, cancelled the certificates of registration of Niger Insurance Plc and Standard Alliance Insurance Plc over their inability to settle outstanding claims for over three consecutive years.
