The National Insurance Commission 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The operational licence: RIC 043, was revoked with effect from March 25.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.
The notice was obtained by the News Agency of Nigeria in Lagos.
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.
NAICOM stated: “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.”
NAN.