The Federal High Court in Abuja has issued a temporary injunction preventing the House of Representatives Committee on Capital Market and Institutions from summoning the Nigerian Insurers Association (NIA) and 17 insurance companies in connection with a probe into alleged N98.4 billion liabilities owed to the Federal Government. Justice Emeka Nwite granted the order on August 18, 2025, citing the risk of sanctions or arrests of the insurers’ CEOs pending the resolution of the case.
The ruling followed a motion on notice argued by the insurers’ counsel, Professor Taiwo Osipitan, SAN, representing the NIA and the 17 firms. Osipitan contended that the insurers, non-government-funded entities regulated by the National Insurance Commission, Corporate Affairs Commission, and Federal Inland Revenue Service, are not under the House’s oversight. He argued that the Committee’s July 3, 2025, summons for operational documents to investigate alleged debts exceeds its constitutional authority, risking harm to the insurers’ businesses.
An affidavit by NIA manager Akioya Toyin Victoria supported the motion, stating the Committee aimed to recover N98.4 billion in alleged liabilities. Justice Nwite noted that the respondents, including the House Speaker, the Committee, Hon. Kwamoti B. Laori, and Hon. Bob Solomon, failed to respond to the motion, forfeiting their right to claim a breach of fair hearing. He ruled that the insurers’ rights warranted protection, as their CEOs faced potential sanctions, while the lawmakers would face no loss from the injunction.
Nwite identified key legal questions, including whether the Committee has the constitutional power to summon the insurers’ CEOs or demand their financial records. He deemed the application meritorious, restraining the Committee from enforcing its summons or compelling CEO appearances until the substantive case is resolved. The case is adjourned to September 9, 2025.
This follows the court’s earlier rejection of an ex parte application by the NIA on July 31, when Nwite required notice to the respondents. The NIA had criticized the probe as legislative overreach, arguing it undermines regulatory independence. The investigation, targeting 25 insurers for alleged non-remittance of funds, has sparked debate about the scope of legislative oversight in Nigeria’s insurance sector.
