The process of divestment of International Energy Insurance (IEI) Plc’s equity in IEI-Anchor Pension Limited has recently suspended due to NAICOM’s directive to stand down the process, SundiataPost can reveal.
It will be gathered that sequel to an earlier proposal to the Nigerian stock Exchange over the intent to dispose of International Energy Insurance PLC’S Investment in IEI Anchor Pensions Limited, the decision was necessitated by the operational guideline of the National Insurance Commission (NAICOM), which prohibits investment of greater than 25% of proceeds from a private placement or public offer in a non-insurance asset.