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From Adanna Nnamani, Abuja
The National Insurance Commission (NAICOM), in collaboration with the Federal Capital Territory (FCT) Police Command, on Wednesday stormed Mabushi, Abuja, to clamp down on illegal insurance operators who print and sell fake third-party motor vehicle insurance certificates and other particulars.
The enforcement exercise, carried out at one of the most notorious spots for the illicit activity, led to the confiscation of counterfeit documents and the arrest of perpetrators.
Addressing journalists, the Head of Market Development at NAICOM, Adeyemi Abubakar, said the operation was aimed at sanitising the third-party motor insurance space and ensuring motorists get value for money spent.
He explained, “The National Insurance Commission aims to sanitise the third-party motor vehicle insurance, which has been ongoing since the beginning of the year. If you recall, there was a directive from the Inspector General of Police that directed that all third-party motor vehicles must comply. And in doing that, we have noticed that a lot of the third-party documents that are out there are still fake. And in view of this, the National Insurance Commission, in making sure this is being sanitised, came up with the idea to join forces with the police to make sure those fake operators are being arrested.”
Abubakar lamented that unsuspecting Nigerians were paying money for worthless documents that could not stand the test of claims.
“Imagine buying third-party motor vehicle insurance, and when there is a need for claims, the documents you bought are not genuine. People’s lives are being put at threat. That is why we are coming up with this, to make sure we stamp out all fake operators in Nigeria,” he stated.
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He noted that the exercise will not be limited to Abuja but will extend to other parts of the country to completely rid the market of fraudulent operators.
On how to identify genuine policies, Abubakar advised motorists to use NAICOM’s verification platforms.
“There is an app and also a code that you can use to verify the authenticity of the policy you are buying. So there is already a digital approach to make sure this is resolved,” he said.
The NAICOM official urged the public to patronise only licensed insurance companies and registered agents to avoid falling victim to fraudsters.
“If you are not licensed by the National Insurance Commission, you cannot sell insurance. Not as an agent, not as a broker, not as a company. The process is clear: get registered, be linked to an insurance company, and then sell with authorisation. Not printing papers on your own without any records,” Abubakar stressed.
He warned perpetrators to desist from the illegal trade, saying NAICOM, with the support of the Police, would continue its nationwide clampdown to protect the public interest.
