NAICOM, Transportion Ministry partner to end fake insurance, others

The National Insurance Commission (NAICOM) and the Federal Ministry of Transportation are collaborating to ensure the provision of adequate insurance for road transport owners and users within Nigeria and Economic Community of West African States (ECOWAS) member countries.

Their objective is to end fake insurance in the road transportation sector.

To this end, the Ministry and NAICOM have agreed to establish a committee to look into various areas of interest to ensure a mutually beneficial relationship.

Head Corporate Communication of the commission, Rasaaq Salami made this known in a statement.

Salami, a Deputy Director, stated that the plan was the highpoint of the meeting between both parties at the NAICOM headquarters in Abuja.

According to him, the Minister of State, Transportation, Senator Gbemisola Ruqayyah Saraki, led the delegation from the Ministry to NAICOM.

He said, “The Minister informed the meeting that the Federal Ministry of Transportation had embarked on a transformation programme of the road transportation sector that will have tremendous impact on the lives and well-being of the Nigerians.

“She noted that insurance is a critical aspect of transportation hence the need to collaborate with NAICOM to ensure a success of the programme.

“The CFI, Mr. Olorundare Sunday Thomas, assured the Minister of the readiness of the commission to collaborate with the ministry to ensure adequate insurance coverage in the sector.

“He informed the Minister that the commission is ensuring order in the insurance sector, particularly in the vexed issue of fake insurances in the road transportation sector saying the commission has developed technology for verification of insurance policies.”