Reports have it that motorists are endangering the lives of other road users by driving vehicles on Nigerian roads without appropriate insurance certificates.
They often choose to obtain cheap papers from fraudsters in unauthorised areas instead of getting a valid document that would provide insurance cover and compensation for road users in times of accident.
To curb this, operators in the insurance industry are collaborating with law enforcement agencies to end the fake certificate business in the country.
The Director-General, Nigerian Insurers Association, Mr. Sunday Thomas, confirmed that there has been a continued increase in the number of genuine insurance policies registered in its Nigerian Insurance Industry Database.
“The vehicles on Nigerian roads are estimated to be between 16 million and 17 million, but what we have registered in our database is about 4.3 million vehicles,” he said.
As of October 2014, 2.7 million vehicles had been registered in the NIID, which was an improvement from a figure of about one million in the corresponding period of 2013.