The House of Representatives yesterday resolved to carry out a comprehensive investigation on the increasing cases of fake insurance certificates in Nigeria.
Consequently, it directed underwriting and brokerage firms operating in the country to open operational offices in major cities in all the 36 states and the Federal Capital Territory (FCT), Abuja.
The resolutions followed the adoption of a motion on the need to Investigate the Incidences of Fake Insurance Certificates in Nigeria by Oluyemi Adewale Taiwo at plenary.
While presenting the motion, Taiwo noted that the Insurance Act 2003 mandates all motorists to have a minimum of Third-Party Motor Insurance Policy in place.
No person shall use or cause or permit any other person to use a motor vehicle on a road unless a liability which he may thereby incur in respect of damage to the property of third- party is insured with an Insurer registered under this Act.
In particular, Section 68 of Act stipulates that “No person shall use or cause or permit any other person to use a motor vehicle on a road unless a liability which he may thereby incur in respect of damage to the property of third- party is insured with an Insurer registered under this Act.”
He added that under the law, no motorist should ply Nigeria roads without having a genuine insurance certificate, which is largely ignored by most motorists.
Taiwo said: “the number of vehicles with fake certificates on Nigerian roads has risen to 9.4 million, and the figure released by the Nigeria Insurers Association revealed that only 2.72 million vehicles on Nigeria roads have valid insurance covers as of February 2021.
“Millions of vehicles, trucks and motorcycles plying Nigeria roads are not insured.”
When the motion was put into voice vote, it was unanimously supported by the lawmakers
The House then mandated its Committee on Insurance and Actuarial Matters to investigate the incidences of fake insurance certificates in Nigeria, and report back within six weeks for further legislative action.