WorldStage Newsonline– The National Insurance Commission (NAICOM) and Nigerian Police Force has announced that the full enforcement of third party motor insurance will commence on February 1, 2025.
The declaration was made when the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin paid a working visit to the Inspector General of Police, Federal republic of Nigeria, Mr. Kayode Adeolu Egbetokun at the Force Headquarters on Friday.
The Commissioner for Insurance 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 NAICOM’s commitment to aiding the enforcement process while emphasizing the need for public awareness and educating police officers on the importance of third-party motor insurance.
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, however, 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 were 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.
