Speaker Abbas seeks dismissal of insurers’ restraining suit over N98bn probe

The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has asked the Federal High Court in Abuja to dismiss a restraining suit filed by the Nigerian Insurers Association (NIA) and 17 insurance companies challenging the House’s ongoing probe into alleged N98.4 billion liabilities by non-government-funded insurers.

The request for dismissal was made in a counter-affidavit dated November 6, 2025, filed by Mrs. Bukola O. Adeagbo, lead counsel for Tajudeen, the House Committee on Capital Markets and Institutions, and committee members Hon. Kwamoti B. Laori and Hon. Bob Solomon. The affidavit was exclusively obtained by Nairametrics.

The legal response follows a temporary restraining order previously granted by the court, which halted the House from summoning the NIA and the 17 insurers while the substantive suit is pending.

According to the lawmakers’ counter-affidavit, the insurers’ CEOs operate under laws enacted by the National Assembly and are registered with government agencies funded through the Federation Account.

The affidavit stressed that the House has constitutional authority under Sections 88 and 89 of the 1999 Constitution to summon individuals and investigate the implementation of laws.

“The Defendants have the power to investigate allegations, procure evidence, and summon any person, including the Plaintiffs, for matters under their legislative competence,” the affidavit stated.

It further argued that the insurers’ failure to honour the House’s invitation suggests they may have something to “hide,” and described their suit as “frivolous,” urging the court to dismiss it in the interest of justice.

The case has been adjourned to December 9, 2025.

Earlier, Justice Emeka Nwite granted a restraining order in favour of the insurers, citing the risk that CEOs could be arrested while the substantive case remains pending.

Professor Taiwo Osipitan, SAN, lead counsel for the insurers, argued that the companies are privately funded entities operating under the supervision of executive agencies, including the National Insurance Commission (NAICOM), the Corporate Affairs Commission (CAC), and the Federal Inland Revenue Service (FIRS), not the House of Representatives.

The plaintiffs asked the court to restrain lawmakers from enforcing or implementing any summons to the CEOs pending the determination of the substantive suit.

The NIA had earlier criticized the House Committee for “legislative overreach” in its probe of member companies over alleged multibillion-naira financial infractions.

The ongoing investigation reportedly targets 25 insurers for alleged non-remittance of substantial revenues owed to the Federal Government.