Kindly leave a comment and share

Chuks Udo Okonta

Speculations on the number of insurance policyholders in Nigeria, would soon be stemmed as the industry is leveraging the National Identity Number (NIN) to authenticate and harmonise policies issues by insurance companies.

The National Insurance Commission (NAICOM) disclosed this at the recently held 2025 NAICOM Seminar for Journalists in Abeokuta, Ogun State.

NAICOM noted that presently, it can give the number of insurance policies issues daily, stressing that by next year when the mandate on NIN for purchase of policies would have been fully implemented, all policies in silos would be harmonised and an individual with many policies would only be identified as a policyholder.

NAICOM submitted that through the Nigerian Insurance Industry Reform Act (NIIRA) 2025, it would be creating a comprehensive, modern, and adaptive legal architecture for a dynamic insurance ecosystem.