The Great Nigeria Insurance Plc has appealed against the judgment delivered by Justice Sonia Akinbiyi of Ogun State High Court, Ijebu-Ode, directing it to pay Ade Distribution and Investment Company Limited N16,056,370.00.

Justice Akinbiyi had on July 5, 2018, awarded over N16 million against the appellant in favour of Ade Distribution and Investment Company.

Delivering judgment in a suit marked HCJ/129/2023, by Ade Distribution and Investment Limited (claimant) and Great Nigeria Insurance Plc., and Alhaji Femi Oluderu (trading under the name and style of Fikemot Nigeria Enterprises (first and second defendants, respectively), Justice Akinbiyi held that the second defendant is an agent of the first defendant.

The court held that the claim by the claimant that his warehouse and corporate office was raided by robbers on January 14, 2013, where goods worth N15,956,570 were carted away by armed robbers was not controverted by the defendants.

The court, therefore, held that the claimant was entitled to be paid by the first defendant the loss suffered because of the armed robbery incident pursuant to the burglary insurance policy no BP/6000038/12/IJ entered into by the claimant and the first defendant.

Justice Akinbiyi also held that the claimant has fulfilled all the conditions precedent as required by Section 50 of the Insurance Act.

The claimant had claimed that it paid the sum of N117,938 to the second defendant, with the sum of N97,125 covering the premium for a burglary insurance policy.

The claimant said it was surprising following the robbery that Great Nigeria Insurance denied liability because the claimant did not pay the premium on the insurance policy before the incident.

However, the second defendant (Great Nigeria Insurance Plc), in its statement of defence dated February 14, 2014, insisted that the second defendant was a canvassing agent who was expected to comply with all the registration and renewal of registration requirements of the National Insurance Commission and that it did not confer the second defendant with the authority to act as its agent to collect premium in his name.

The insurance company further stated that the claimant was expected to pay the agreed sum of N97,125 as a condition precedent to the attachment of the risk insured before November 20, 2012, and consequently the insured risk.

After adjudication, the court held the Insurance firm liable and ordered it to pay the claimant a total of N16,056,370.

Dissatisfied with the judgment, it filed an appeal at the Ibadan Division of the Court of Appeal, challenging the decision.