Islamabad, (Pakistan Point News - 13th May, 2018) : Former chairman of the National Insurance Company Limited (NICL) Ayaz Khan Niyazi was arrested on Sunday in the Supreme Court in cases pertaining to the NICL land scam. The National Accountability Bureau (NAB) took Niyazi into custody after his bail having been rendered ineffective following transfer of the cases from the Federal Investigation Agency (FIA) to the Bureau. The top court allowed the NAB to arrest the former NICL chairman if he was not on bail and directed it to take action against him in accordance with the law of the land.
According to NAB officials, Niyazi was out on bail but it was rendered ineffective as he didn't seek bail afresh from the relevant court after transfer of the cases to the anti-graft watchdog. Meanwhile, the court directed th e accountability courts seized with the hearing of the cases in Karachi and Lahore to decide the cases within two months. Late PPP leader Makhdoom Amin Fahim, former NICL chairman Ayaz Khan Niyazi along with other top officials of the company had been booked in cases pertaining to the purchase of land at various places and different times by NICL. The cases involving alleged embezzlement of a huge amount were initially being heard by an anti-corruption court but were later transferred to the accountability court.
