The National Insurance Commission (NAICOM) on Wednesday announced the cancellation of the operational licence issued to UNIC Insurance Plc.
The operational licence – RIC 043, was revoked with effect from March 25.
The commission made the announcement in a notice to the general public and policy holders.
NAICOM stated that the decision was in exercise of the powers conferred on it by enabling laws.
The commission explained that consequently, it had appointed Hadiza Baba Gimba as the Receiver/Liquidator to wind-up the affairs of the company.
“The general public/policy holders are by this notice required to direct all enquiries and correspondence regarding UNIC Insurance to the receiver/liquidator.
“The receiver/liquidator will be dealing with the company’s liabilities in accordance with the provision of Insurance Act 2003,” NAICOM stated.