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Only 2.5 Million Vehicles Have Genuine Insurance Policy, NIA



***Launches “Wetin You Carry” Campaign To Curb Fake Policies.

L-R: Controller Coperate Afairs, Human Resources and Admin, NIA, Mr. Davis Iyasere; Director General, NIA, Mrs. Yetunde Olubunmi Ilori; Assistant Director, Information Technology Research and Statistics, Mrs. Bola Omole at the Media Briefing at NIA office, Lagos.


The Nigerian Insurers Association (NIA) has decried the prevailing racketeering of fake motor insurance certificates, disclosing that out of over 12 million vehicles, only 2.5 million have genuine insurance policy nationwide according to statistics from its data room.

It said this is despite it’s campaign on Insurance awareness and eradicating fake motor insurance policies in the country.

However, as part of renewed strategies to curb the prevalence of fake insurance certificates, the association has launched a slogan “Wetin You Carry” being supervised by a 33 uniformed Squad named “The Insurance Court” on Lagos roads which commences operation on October 2, 2019.

The Director General of the association, Mrs. Yetunde Olubunmi Ilori disclosed these Monday, while briefing newsmen on the campaign in Lagos.

According to Ilori, out of 12 million vehicles in Nigeria, Lagos State is having five million which stands at over 20 percent.

She said: “We have a platform from where we capture what insurance companies have been able to sell and what we have here shows that just over 2.5 million motorist have bought genuine policy.

“In Lagos State alone we have not done up to 50 percent, so where are the rest? It’s either they are not insuring or they are buying fake insurance policies.”

While expressing optimism on the success of the renewed strategies, stated that “Wetin You Carry” campaign will curb the selling of fake insurance policies, she explained that the insurance court would enlighten motorist on the USSD code *556*11 to ascertain if their insurance policy is genuine or fake.

She said that the insurance court is meant to cover Lagos State in one month and then move to other States.

According to the NIA Director General, “The insurance court are not there to punish anyone but to make sure they are carrying something valuable and to make sure their insurance policies are not expired.

“People don’t need to get caught before they know that what they have is fake, the USSD code tells you if your policy is fake or not, your expiring date and also allows you to make complaints.”

Further she indicated that the next phase of the campaign which will focus on accessibility to purchase a policy, will introduce a platform that people can buy insurance from because when people know where to buy genuine insurance policy, they won’t be deceived into purchasing fake ones.


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