Nigeria: In Spite of Court Injunction, FG Takes Over Nicon

15 November 2007

Abuja — In spite of a subsisting court order, the federal government yesterday took over the management of NICON Insurance Plc and Nigeria Re-Insurance from Barrister Jimoh Ibrahim as it also announced the list of 49 insurance companies authorised to do business in Nigeria.

However, government has set up interim management committees for the two companies for the period they would be verified until it takes a final decision on them.

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