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, Ministries of Defence,
Communications and Digital Economy, Science and Technology, Police Affairs, Education,
Health, Ministry of Agriculture among others.
The Chairman said: “This investigation is as a
result of the petitions of over 2,000 persons across Nigeria who felt that
there suspected breaches and infractions on insurance act provisions.
“We have been able to unravel certain facts, however,
the committee has not concluded its investigations, but to the extent we have
heard from the insurance companies that did business with the Head of Service
of the Federation (HoS) and other institutions of the government. It is
becoming very clear that the laws guiding insurance practice in Nigeria are not
being obeyed.
“And these are the laws that ensure proper
operations in the industry, and in the wisdom of the House, they have directed
the Committee on Insurance and Actuarial Matters to look into these issues to
assuage the feelings of these petitioners."
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