THE Federal High Court sitting in Abuja has restrained the House of Representatives from compelling 17 Chief Executives of insurance companies to appear before its Committee on Capital Market and Institutions over alleged indebtedness to the Federal Government.
News Point Nigeria reports that Justice Emeka Nwite issued the interlocutory injunction on Monday after hearing an application filed by the insurers, who are members of the Nigerian Insurers Association (NIA).
The decision followed an application moved by their counsel, Prof. Taiwo Osipitan (SAN), challenging the authority of the House to summon the Chief Executives and demand operational records in relation to an alleged ₦98.4 billion debt.
The dispute stems from a July 3rd summons issued by the House Committee, chaired by Hon. Bob Solomon and including Hon. Kwamoti Laori, directing the CEOs to appear at a scheduled hearing on July 21, 2025 to respond to allegations of non-remittance of multibillion-naira revenue to the Federal Government.
Lawmakers had launched a probe into 25 insurers, alleging widespread irregularities and unremitted revenues running into billions of naira.
However, the 17 plaintiffs argued that their activities are already subject to strict regulatory oversight by agencies of the Executive arm of government, including the National Insurance Commission (NAICOM), Corporate Affairs Commission (CAC), and the Federal Inland Revenue Service (FIRS).
They contended that the National Assembly has no constitutional mandate to demand their internal operational records or enforce debt recovery, insisting such powers rest exclusively with executive regulatory bodies.
The insurers who approached the court 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
Staco Insurance Plc
In his ruling, Justice Nwite observed that none of the defendants, the Speaker of the House of Representatives, the Committee on Capital Market and Institutions, its Chairman Hon. Bob Solomon, and member Hon. Kwamoti Laori filed any process or appeared in court to contest the application.
The judge emphasized that a party given the opportunity to defend itself but failing to do so cannot later claim denial of fair hearing.
Accordingly, he granted an interlocutory injunction, restraining the defendants, their agents, or representatives from compelling the insurance CEOs to appear before the committee on July 21 or any subsequent date, pending the resolution of the substantive suit.
The substantive suit has been adjourned to September 9, 2025, when the court will begin full hearing on the constitutional questions raised particularly the scope of the legislature’s oversight powers versus the executive’s regulatory mandate.