The House of Representatives has resolved to investigate breaches, impunity and other infractions of some federal government institutions on insurance and actuarial matters.
To this end, the Green Chamber has mandated the House Committee on Insurance and Actuarial Matters to engage a forensic auditor to ascertain the level of misapplication of premium.
However, The House is also involving all relevant stakeholders to identify any breaches and ascertain the veracity of the suspected infractions by the Institutions.
According to the Chairman of the House Committee on Insurance, Rep Darlington Nwokocha supported the proposed probe saying it will bring sanity into the insurance sector.
He also added that he was in support of the recapitalization of the insurance sector to allow the sector to become more relevant and trusted in the country.