Various stakeholders in the insurance industry invited by the House of Representatives Committee on Insurance and Acturial matters to a public hearing on Wednesday shunned the event for undisclosed reasons.
The stakeholders were scheduled to appear at Room 1.41 of the New Building of the House of Representatives.
After colleagues and journalists appeared and were seated for over an hour awaiting the arrival of the guests, to the amazement of other members of the Committee, Hon. Darlington Nwokocha simply told his colleagues that the Committee would not sit.
In another breath, he informed that those scheduled to appear before the Committee on Wednesday, including Nigerian Insurance Association, had transmitted their memoranda and would be appearing on a date to be fixed.
He added that update on the rescheduled invitation would be sent to colleagues via WhatsApp.
Recall that the Committee had, on Tuesday, commenced investigations into the N180.9 million insurance premium allegedly paid for the failed Satellite 1 project, which was launched in 2011 as well as Satellite 1-R for which Nigeria obtained $500 million Chinese loan.
The Chairman had issued a 7-day ultimatum to all the parties to provide relevant documents relating to the transactions.
While responding to questions on the appointment of the Lead insurance company, NigComSat Managing Director/CEO, Abimbola Alale, argued that the Chinese company which manufactured the satellite unilaterally nominated the UK-based insurance firm to insure NigComsat 2, which was launched in 2014.
On her part, NigComSat Legal Adviser, Mrs Alina Okpalefe, who affirmed that she was the Secretary of the Project Committee, disclosed that no legal official accompanied the delegation to China where the contract was sealed in year 2011.
Also recall that in his presentation, the Managing Director of Fasahal Insurance company, Mr Frederic Adejo who affirmed that he was not a chattered Broker, disclosed that NigComSat introduced him to the Lead Insurance firm.
Consequently, the Committee Chairman demanded bank statements on all the transactions, schedule insurance policy, just as he stressed that there was no classified information that should be hidden from the Parliament.
But to the surprise of journalists and other members of the publuc present on the occasion, none of the MDAs showed up, which necessitated Hon. Darlington to adjourn.
The Committee is probing $500m failed NigComSat satellite, insurance premium, others and alleged N180.9m Insurance Breach and is demanding receipts of all transactions from A&G, others.
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