The Federal High Court in Abuja has barred the House of Representatives from compelling the chief executives of 17 insurance companies to appear before its Committee on Capital Market and Institutions.
In a ruling delivered on Monday, Justice Emeka Nwite granted an interlocutory order restraining the Speaker of the House, the committee, and its members Kwamoti Laori and Bob Solomon from enforcing summons earlier issued to the companies.
The affected insurers, represented by Prof. Taiwo Osipitan (SAN), include 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, Alico 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 House committee had summoned the firms for a hearing on July 21, 2025, over allegations of non-remittance of about ₦98.4 billion to the Federal Government and requested them to submit their operational records.
However, the companies, through their counsel, argued that they are already under the supervision of statutory regulators, including the National Insurance Commission (NAICOM), the Corporate Affairs Commission (CAC), and the Federal Inland Revenue Service (FIRS). They contended that the National Assembly lacks constitutional powers to audit their records or enforce alleged debts, describing the move as an encroachment on executive functions.
In a supporting affidavit, Toyin Victoria Akioya, a manager with the Nigerian Insurers Association (NIA), told the court that the committee’s July 3, 2025 summons was intended to establish and enforce liabilities allegedly owed by the firms.
Justice Nwite held that the House and its committee failed to respond to the insurers’ motion despite being given the opportunity. He ruled that any party who neglects to reply cannot later claim denial of fair hearing. Consequently, the court restrained the lawmakers from compelling the CEOs to appear at the July 21 session or any subsequent sitting pending the outcome of the substantive case.
The matter has been adjourned to September 9, 2025, for further hearing.
