THE National Insurance Commission (NAICOM) and the Federal Road Safety Corps (FRSC) have inaugurated a Joint Committee on the Enforcement of Compulsory Third-Party Motor Insurance, marking a major milestone in Nigeria’s efforts to strengthen road safety, insurance compliance, and protection for accident victims.
The inauguration ceremony, held at NAICOM’s headquarters in Abuja, underscored both agencies’ shared commitment to implementing the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which seeks to modernize insurance operations and expand coverage nationwide.
Speaking at the event, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Ayo Omosehin, praised the FRSC for its proactive partnership and leadership in promoting the initiative.
He noted that the collaboration will deliver tangible benefits to Nigerians by integrating the insurance and vehicle registration databases, ensuring prompt compensation for accident victims, and raising public awareness about insurance obligations and consumer rights.
‘This initiative directly supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes reforms in key sectors to drive inclusive national development,’ Omosehin stated.
Also speaking, the Corps Marshal of the FRSC, Shehu Mohammed, reaffirmed the Corps’ full commitment to the partnership, describing it as a critical step toward ensuring full compliance with compulsory third-party motor insurance laws.
He emphasized that the FRSC would deploy technology-driven enforcement, data sharing, and on-field monitoring to achieve measurable results.
According to Mohammed, the collaboration represents ‘a model of inter-agency synergy’ aimed at reducing road traffic accidents while strengthening the government’s capacity to provide timely financial and medical support to victims.
Presenting the Terms of Reference for the Joint Committee, the Deputy Commissioner for Insurance, Mr. Ekerete Ola Gam-Ikon, explained that the committee’s core mandates include enforcing compulsory third-party motor insurance nationwide, reducing the number of uninsured vehicles, and ensuring quick compensation and medical assistance for accident victims.
He added that the committee will also promote public sensitization on insurance benefits, support microinsurance for commercial drivers and passengers, and enable real-time digital verification of insurance policies to improve transparency and enforcement efficiency.
The Joint Committee, co-chaired by senior officials from both NAICOM and FRSC, will coordinate joint field operations, conduct awareness campaigns, and recommend periodic policy reviews to enhance compliance and consumer confidence. NAICOM will serve as the Secretariat, providing administrative and operational oversight for the initiative’s sustainability.
Omosehin reiterated NAICOM’s commitment to sustaining the partnership through continuous innovation, feedback, and stakeholder engagement.
‘This is not a one-off event. We are committed to continuous improvement. Fewer road accidents, more insured motorists, and stronger public confidence in the insurance system are key outcomes we are determined to achieve,’ he said.