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Only 2.9 million vehicles registered by insurance firms –NIA

Ololade Omosan-Agie

 Out of the estimated 13 million vehicles in Nigeria, only about 2.9 million were registered as of April 26, the Nigerian Insurers Association has said.

The Chairman, NIA, Mr Ganiyu Musa, disclosed this while speaking on the Nigerian Insurance Industry Database/Nigerian Insurance Industry Portal.

He said the database was established to eliminate fake insurance policies.
Musa said, “The association has taken a step further by creating the Nigerian insurance industry platform to enable vehicle owners to purchase their third-party motor vehicle insurance cover from the comfort of their homes and telephones.

“So far, we are seeing a lot of traction on the platform across the states of the federation, and we are hopeful that other states will key into the project before the end of the year.”

He said the Central Bank of Nigeria had since integrated the NIA Marine Module into the National Trade Portal, with all insurance certificates required for import and export being generated from the portal.
“This, no doubt, signals the end of fake marine insurance certificates at the ports,” he added.

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