The National Insurance Commission (NAICOM), is collaborating with the Nigeria Police Force (NPF) to effectively enforce the Third Party Motor Insurance across the country.
Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Ayo Omosehin, disclosed this on Friday when he paid a working visit to the Inspector General of Police, Mr. Kayode Egbetokun at the Headquarters, Abuja.
He congratulated the IGP on his notable achievements, particularly the recent licence acquisition for the Police Insurance Company.
He reminded the IGP of his earlier request for assistance in enforcing all compulsory insurance policies, but this time narrowed his focus on Third-Party Motor Insurance.
The CFI pledged to provide the necessary support to ensure seamless enforcement of third-party motor insurance across the country.
To guarantee the success of this initiative, the CFI emphasized the need for a mass awareness campaign and education of the Nigeria Police Officers.
In response, the IGP expressed his alignment with the CFI for insurance, acknowledging the compulsory nature of third-party motor insurance in Nigeria.
He emphasized that violating this law is punishable, yet unfortunately, only 30% of vehicles in the country are insured.
The IGP highlighted the numerous benefits of having insurance coverage, stressing the importance of protecting lives and property.
He urged citizens to obtain at least a third-party insurance cover for their vehicles before driving on Nigerian roads. To ensure compliance, the IGP announced that full enforcement of third-party motor insurance will commence on February 1, 2025.
Present at the meeting was the Deputy Commissioner, Technical, Dr. Usman Jankara, the Deputy Commissioner Finance and Administration, Mr. Ekerete Ola Gam-Ikon, Director Legal, Enforcement & Market Development, Dr. Talmis Usman, Director of Inspectorate, Mr. Bankole Ajebola, Senior Police Officers, and others.
