Nigeria: Reps Probe NNPC On Insurance

12 July 2012

House of Representatives, yesterday, quizzed some of the insurance companies involved in the management of the $46 billion offshore assets of Nigerian National Petroleum Corporation, NNPC, over the reported $329.4 million inflated premium and questionable practices in the appointment of underwriters.

The lawmakers also queried the delay in payment of the backlog of unpaid insurance claims to Federal Government's agencies worth N12.3 billion, owed by NICON Insurance over the past four years.

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