The Federal High Court in Abuja has barred the House of Representatives and its Committee on Capital Market and Institutions from compelling the appearance of Chief Executives and Managing Directors of 17 insurance companies in connection with alleged multibillion-naira debts owed to the Federal Government.
Justice Emeka Nwite issued the interim order on August 18, after granting an application filed by the insurers under the umbrella of the Nigerian Insurers Association (NIA). The suit was filed through their counsel, Prof. Taiwo Osipitan (SAN).
The lawmakers had summoned the insurers to appear at a hearing on July 21, 2025, over claims of non-remittance of N98.4 billion in revenue. However, the companies challenged the move, arguing that their activities already fall under the supervision of statutory regulators such as the National Insurance Commission (NAICOM), Corporate Affairs Commission (CAC), and the Federal Inland Revenue Service (FIRS).
The plaintiffs contended that the National Assembly lacked constitutional powers to demand their operational records or to pursue alleged debt recovery, insisting that such actions amounted to a usurpation of executive powers.
The 17 firms involved in the suit 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.
Defendants in the case are the Speaker of the House of Representatives, the House Committee on Capital Market and Institutions, its Chairman, Hon. Bob Solomon, and a member, Hon. Kwamoti Laori.
In his ruling, Justice Nwite noted that none of the defendants appeared in court or filed a response. He added that a party that fails to utilize its opportunity to be heard cannot later claim denial of fair hearing.
The interlocutory injunction now restrains the lawmakers, their agents, or representatives from summoning the CEOs pending determination of the substantive suit. The case has been adjourned to September 9, 2025, for further hearing.
