Managing Director of Guinea Insurance, Mrs. Isioma Omoshie-Okokuku is in big trouble. She confessed that Guinea Insurance, which provided cover for NCS paid N250 million as commission to unlicensed broker, Chrome Insurance between 2013 and 2015.
She equally admitted that Guinea Insurance made a big mistake by doing business with Chrome Insurance, in contravention of the Insurance Act which bars insurance companies from engaging brokers that are not licensed by the National Insurance Commission (NAICOM).
She disclosed that Guinea Insurance was moved by desperation to keep the Nigerian Customs Services (NCS) account. She is now begging Hon. Adekunle Akinlade, Chairman, House ad-hoc committee investigating return on premium paid to government officials by insurance companies to forgive her company.