House Vows to Recover Billions of Naira from Insurance Companies
The House of Representatives has vowed to recover billions of naira paid to different Insurance companies by the federal government as premium on non-existent Head of Service (HoS) Group Life Insurance scheme between 2014 and 2019. The HoS scheme, which was described as the biggest scheme in the Nigeria insurance industry cuts across over 100 government Ministries, Agencies and Departments (MDAs). The Chairman of the House Committee on Insurance and Actuarial Matters, Hon. Darlington Nwokeocha, disclosed this while briefing journalists on Thursday in Abuja after a two-week investigative hearing, saing despite the huge amount of public fund sunk into the project, there was nothing to show for it. Some of the affected MDAs included the Nigerian Military, the Nigeria Security and Civil Defence Corps (NSCDC), Nigeria Customs Service (NCS), Nigeria Police, Nigeria Immigration Service (NIS), Nigeria Correctional Service (NCS), Federal Fire Service, Ministri