NAICOM, Police To Commence Enforcement Of Third Party Motor Insurance On February 1
L-R: Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, in a handshake with the Inspector General of Police (IGP), Mr. Kayode Adeolu Egbetokun, during NAICOM CEO’ working visit to the IGP at the Force Headquarters in Abuja on Friday, January 10, 2025.
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin and the Inspector General of Police, Mr. Kayode Adeolu Egbetokun, have agreed to commence the enforcement of the Third Party Motor Insurance in Nigeria on February 1, 2025.
This decision was reached during the recent working visit by the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Omosehin on the Inspector General of Police (IGP), Federal republic of Nigeria, Mr. Egbetokun at the Force Headquarters in Abuja on Friday, January 10, 2025.
During the visit, NAICOM boss 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.
Mr. Omosehin who pledged to provide the necessary support to ensure seamless enforcement of third-party motor insurance across the country, also emphasized the need for a mass awareness campaign and education of the Nigeria Police Officers to ensure success of the initiative.
In response, the IGP expressed his alignment with NAICOM CEO for insurance, acknowledging the compulsory nature of third-party motor insurance in Nigeria.
While noting the consequence of violating the law, the IGP cited the situation where only 30% of vehicles in the country are insured, describing it as unfortunate.
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.
