NICON Insurance faults report on Senate summon

NICON Insurance Limited has faulted a report on its invitation to the Senate over failure to remit pension fund to the Pension Transitional Arrangement Directorate.

In a statement titled, ‘NICON Insurance faults report on senate summon’, the insurance firm recalled the report, which stated that the Nigerian Senate had summoned the firm over ‘Failure to remit N17.4bn pension fund to PTAD’.

NICON Insurance stated that it had not received any summon from the Senate Committee on Public Accounts and was, therefore, unaware of the existence of such summons as reported by the media.

It stated, “It is of great concern to management that NICON has been subjected to the court of public opinion on a matter in which we have discharged our duty as a responsible corporate citizen.

“To set the records straight, NICON transferred assets to PTAD under the leadership of Sharon Ikeazor in lieu of the legacy pension funds for over 50 agencies and parastatals of the Federal Government in June 2017.

“PTAD has all the title documents of the properties in its possession and has been collecting rent on them in the last four years. NICON is therefore not liable to PTAD for any pension funds.

“Management also notes that other issues reportedly raised by the Executive Secretary of PTAD, Dr Chioma Ejikeme, are before a court and are therefore sub-judice for discussion except before the court of law.”