NICON Insurance blames report on Senate summon

NICON Insurance Limited has blamed a report on its invite to the Senate over inability to remit pension fund to the Pension Transitional Arrangement Directorate (PTAD).

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

NICON Insurance disclosed that it had not received any invite from the Senate Committee on Public Accounts and was, consequently, not aware of the existence of such invite as reported by the media.

It said, “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.”

The insurance firm declared that it would not join matters with anybody and would make no additional remark on these matters till they were settled by the court.