Justice Emeka Nwite of the Federal High Court, sitting in Abuja Monday has issued an order restraining the Speaker of the House of Representatives, the House Committee on Capital Market and Institutions, and two of its members from compelling the appearance of Chief Executive Officers/Managing Directors of 17 insurance companies that are members of the Nigerian Insurers Association (NIA), at a scheduled hearing session.
The interlocutory order, delivered on Monday, followed a motion on Notice filed by the insurers through their counsel, Prof. Taiwo Osipitan, SAN, seeking to stop the committee from enforcing various letters directing CEO and MD of the companies to appear before lawmakers on July 21, 2025 or any subsequent date pending the determination of the substantive suit.
The plaintiffs include leading insurers such as Regency Alliance Plc, Coronation Insurance Plc, Linkage Assurance Plc, Guinea Insurance Plc, Veritas Kapital Assurance Plc, LASACO Plc, Universal Insurance Plc, Sovereign Trust Insurance Plc, AIICO Insurance Plc, AXA Mansard Insurance Plc, Cornerstone Insurance Plc, NEM Insurance Plc, Mutual Benefits Assurance Plc, International Energy Insurance Plc, Consolidated Hallmark Insurance Plc, SUNU Assurances Nigeria Plc, and STACO Insurance Plc.
The defendants are the Speaker of the House of Representatives, the Committee on Capital Market and Institutions, Hon. Kwamoti B. Laori, and Hon. Bob Solomon.
The dispute arose after reports that the House of Representatives commenced an investigation into 25 insurers over alleged non-remittance of multibillion-naira revenue allegedly owed to the Federal Government.
The insurers through their Counsel argued that their activities are already regulated by statutory agencies of the Executive arm of government, namely the National Insurance Commission, Corporate Affairs Commission, and Federal Inland Revenue Service—and that the National Assembly lacks constitutional powers to scrutinize their operational documents or alleged indebtedness to the Federal Government.
They contended that the July 3rd summons requiring them to submit operational records was aimed at recovering N98.4 billion, allegedly owed to the Federal Government, which falls outside the legislature’s oversight mandate and amounts to an unlawful usurpation of executive powers.
In support of their motion on notice, the NIA, through a sworn affidavit by its manager Akioya Toyin Victoria, confirmed that the summons sought to establish and enforce liabilities allegedly owed by the insurers.
Delivering his ruling, Justice Nwite observed that none of the defendants filed a response to the motion on notice.
He held that once a party is given the opportunity to be heard but fails to respond, such a party cannot claim denial of fair hearing.
In granting the interlocutory injunction, Justice Nwite restrained the defendants, their agents, or representatives from compelling the 2nd to 18th plaintiffs’ Chief Executive Officers and Managing Directors to attend the committee’s hearing slated for July 21 or any subsequent date, pending determination of the substantive suit.
The case was adjourned to September 9, 2025, for hearing of the substantive suit.
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