By Aduragbemi Omiyale
The operational licence of UNIC Insurance Plc has been revoked by the National Insurance Commission (NAICOM).
This development was confirmed by the agency in a public notice signed by the management.
NAICOM is the institution saddled with the responsibility of regulating the insurance industry in the country as well as the activities of operators.
UNIC Insurance, which has its corporate headquarters in Lagos, operates as an insurance company, with a focus on the life and health insurance business, as well as financial services.
But due to some issues, NAICOM has withdrawn the operational licence it granted the organisations and the firm has been directed to stop operating as an insurance firm with effect from March 25, 2021.
In view of this, the agency has appointed Hadiza Baba Gimba as the receiver/liquidator to wind up the affairs of the company.
“This is to notify the general public/policyholders that, in the exercise of the powers conferred on her by enabling laws, the National Insurance Commission (NAICOM) has cancelled the operational licence issued hitherto to UNIC Insurance Plc (RIC 043) to operate as an insurance company with effect from March 25, 2021.
“Consequently, the Commission has appointed Hadiza Baba Gimba, as the receiver/liquidator to wind up the affairs of the company. The contact address of the receiver/liquidator is Hadiza Baba Gimba, Suite D7, Awmar Plaza, Odimegwu Ojukwu Way, Off Abdulsalam Abubakar Way, Gudu, Abuja.
“The general public/policyholders are by this notice required to direct all enquiries and correspondence regarding UNIC Insurance Plc to the receiver/liquidator who will be dealing with its liabilities in accordance with the provisions of the Insurance Act 2003,” the notice from the agency stated.
Adedapo Adesanya 
Modupe Gbadeyanka