Annuitants task NAICOM to prosecute former board, management of African Alliance Insurance over hardship

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Left with just unpaid one month pension benefits arrears, annuitants of African Alliance Insurance Plc have called on the National Insurance Commission (NAICOM) to prosecute the board/management of the company who brought untold hardship on them.

A statement from leaders of the annuitants made available Inspenonline reads: “Latest information on AAI unpaid annuities.

“I wish to inform you that two months was paid out of the remeaning three months this morning of “Tuesday 26/8/2025”.

“It’s our hope that we shall receive the balance for the month of August 2025 soon and be moved to another reputable insurance firm for the continuation of our services on annuity.

“And we hereby express our appreciation once again to the National Pension Commission (PenCom) for coming to our aid on this sad experience, while urging NAICOM to prosecute those [Board/Management of AAI] that led us into this sad incident.”

NAICOM had said it would go after managers of ailing insurance companies, vowing not to allow them to go with their misdeeds.

The Commissioner for Insurance/Chief Executive Officer NAICOM Olusegun Omosehin, said this at press conference in Lagos, adding that people who run down insurance companies would be made to revive them.

He submitted that henceforth people who have been involved in the failure of insurance companies would be blacklisted and barred from talking up positions in the insurance industry.