Emmanuella Otuogbai, a lawyer, has accused African Alliance Insurance Plc of allegedly failing to pay her life assurance policy funds after requesting a surrender in April 2024, according to the Foundation for Investigative Journalism (FIJ).
According to her father, Edward Otuogbai, also a lawyer, Emmanuella had taken out a life assurance policy worth N1.2 million with the company in 2020.
The policy was set to mature in September 2025, but under the terms, she was allowed to surrender it before the maturity date, as long as all premiums had been paid.
Edward explained that his daughter had been paying a monthly premium of N20,000, and by February 2024, the surrender value of the policy amounted to N730,380.
However, after submitting all the necessary documentation and filling out the required claim forms, African Alliance has yet to release the funds.
“We provided all the necessary information, including a Zenith Bank account in my name as requested, but since April 2024, we have received no response from the company,” Edward told FIJ.
Attempts to reach African Alliance Insurance Plc for comments have been unsuccessful.
When FIJ contacted the company’s human relations officer, they were directed to a phone number listed on the organisation’s website, which did not connect.
As of now, African Alliance has not issued any formal statement regarding the matter.
