NAICOM, Police Raid Fake Motor Insurance Dealers in Abuja

By Oluwakemi Kindness

The National Insurance Commission (NAICOM), in collaboration with the Nigeria Police Force, has launched a major crackdown on individuals peddling fake motor third-party insurance policies in Abuja.

The crack down led by its Motor Third-Party Insurance Enforcement Committee, NAICOM operatives, supported by the police, stormed the Mabuchi area of the Federal Capital Territory, where fraudsters have been issuing counterfeit insurance documents to unsuspecting motorists.

According ti a statement on Wednesday night, the operation follows a directive by the Inspector General of Police mandating strict compliance with third-party motor vehicle insurance nationwide.

It is part of NAICOM’s broader campaign to curb the proliferation of fake policies that leave accident victims stranded without compensation.

Speaking during the enforcement exercise, Adeyemi Abubakar, Head of Market Development at NAICOM, warns that selling insurance without a license is illegal and punishable under Nigerian law.

He stresses that genuine third-party motor insurance provides financial protection for accident victims, unlike fake policies that rob citizens of their rightful benefits.

He urges Nigerians to purchase policies only from licensed insurers and to verify their authenticity through NAICOM’s approved verification platforms.

Those arrested during the raid will face prosecution under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which prescribes stiff penalties, including fines and other regulatory sanctions.

NAICOM reiterates its commitment to sanitizing the insurance market and safeguarding policyholders from fraudulent practices.