Court bars House from summoning insurers’ CEOs over alleged N98.4bn non-remittance, saying probe usurps powers of statutory regulators

Court bars House from summoning insurers as the Federal High Court in Abuja has restrained the House of Representatives from compelling the chief executives of 17 insurance companies to appear before its Committee on Capital Market and Institutions.

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Delivering the interlocutory order on Monday, Justice Emeka Nwite stopped the Speaker, the committee, and its members from enforcing the July 3 summons issued to the companies.

The affected insurers represented by Prof. Taiwo Osipitan (SAN)  include Regency Alliance, Coronation Insurance, Linkage Assurance, Guinea Insurance, Veritas Kapital, LASACO, Universal Insurance, Sovereign Trust, Alico Insurance, AXA Mansard, Cornerstone, NEM Insurance, Mutual Benefits Assurance, International Energy Insurance, Consolidated Hallmark, SUNU Assurances Nigeria, and Staco Insurance.

Lawmakers had summoned the firms to appear at a July 21, 2025 hearing over alleged non-remittance of ₦98.4bn and to submit operational records.

However, the insurers argued that they are already regulated by statutory bodies such as NAICOM, CAC, and FIRS, and that the National Assembly lacks constitutional powers to enforce alleged debts or probe their records.

Justice Nwite noted that the House failed to file any response to the motion despite opportunities given, ruling that parties who neglect to respond cannot later claim denial of fair hearing.

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Accordingly, the court restrained the lawmakers from summoning the CEOs for the July 21 session or any subsequent hearing until the substantive suit is determined.