The Federal High Court in Abuja has restrained the House of Representatives from compelling the chief executives of 17 insurance firms to appear before its Committee on Capital Market and Institutions over alleged non-remittance of ₦98.4 billion to the Federal Government.

Justice Emeka Nwite, in a ruling delivered on Monday, issued an interlocutory order barring the Speaker of the House, the committee, and its members Kwamoti Laori and Bob Solomon from enforcing the summons earlier served on the companies.

The affected insurers, represented by Prof. Taiwo Osipitan (SAN), include:

• Regency Alliance Plc
• Coronation Insurance Plc
• Linkage Assurance Plc
• Guinea Insurance Plc
• Veritas Kapital Assurance Plc
• LASACO Plc
• Universal Insurance Plc
• Sovereign Trust Insurance Plc
• Alico Insurance Plc
• AXA Mansard Insurance Plc
• Cornerstone Insurance Plc
• NEM Insurance Plc
• Mutual Benefits Assurance Plc
• International Energy Insurance Plc
• Consolidated Hallmark Insurance Plc
• SUNU Assurances Nigeria Plc
• Staco Insurance Plc

Lawmakers had summoned the firms for a July 21, 2025 hearing, directing them to submit operational records over the alleged debt.

However, the companies, through Osipitan, argued that their operations already fall under the supervision of statutory regulators including the National Insurance Commission (NAICOM), the Corporate Affairs Commission (CAC), and the Federal Inland Revenue Service (FIRS).

They maintained that the National Assembly lacked constitutional authority to investigate their corporate records or enforce debts, stressing that such powers belong to the executive arm.

In a supporting affidavit, Toyin Victoria Akioya, a manager at the Nigerian Insurers Association (NIA), told the court that the committee’s summons dated July 3, 2025, was designed to establish and enforce liabilities allegedly owed by the insurers.

Justice Nwite, ruling on the motion, noted that the defendants failed to file any response to the suit despite being given the opportunity to do so. He held that a party who neglects to respond cannot later claim denial of fair hearing.

Consequently, the court restrained the House and its committee from summoning the CEOs to appear at the July 21 hearing or any subsequent session pending determination of the substantive case.

The case was adjourned to September 9, 2025, for further hearing.