curator
Administrator
The National Insurance Commission (NAICOM) said it had approved 38 reports out of 52 Insurance companies that submitted their 2012 financial statements as at Dec. 20.
An official source in NAICOM disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.
According to him, 2012 financial statements of three other companies out of the remaining 14 insurance companies not yet approved are under review by the Commission.
He said that the review of financial statements of the three companies were in progress.
The source said that the Commission was awaiting the response from eight insurance companies whose financial statements were queried.
“Eight Insurance companies are yet to submit their 2012 financial statements to the commission. The penalty for late submission still applies.
“Since it is the year of transition to International Financial Reporting Standard (IFRS), the commission will continue to assist them until they submit their financial statements,” he said.
The official said that it would be easy for the companies whose financial statements had been approved to work on their 2013 reports.
NAN reports that some insurance companies had not submitted their 2012 financial statements because they had problems with NAICOM.
An official source in NAICOM disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.
According to him, 2012 financial statements of three other companies out of the remaining 14 insurance companies not yet approved are under review by the Commission.
He said that the review of financial statements of the three companies were in progress.
The source said that the Commission was awaiting the response from eight insurance companies whose financial statements were queried.
“Eight Insurance companies are yet to submit their 2012 financial statements to the commission. The penalty for late submission still applies.
“Since it is the year of transition to International Financial Reporting Standard (IFRS), the commission will continue to assist them until they submit their financial statements,” he said.
The official said that it would be easy for the companies whose financial statements had been approved to work on their 2013 reports.
NAN reports that some insurance companies had not submitted their 2012 financial statements because they had problems with NAICOM.