NAICOM, UNDP, NIA, NCRIB promote insurance literacy
L-R: Mrs Grace Arinze (UNDP) Mr Kenneth Aror (NAICOM) Mrs Bukola Ifemade (UNDP Consultant) Comrade Ali Paul (Wuse Market Executive) Mr Richard Ojo (NCRIB, Mrs Toyin Akinoya(NIA) at Wuse Market Campaign
In a bid to educate traders and the general public on the importance of insurance, the National Insurance Commission (NAICOM) and the United Nations Development Programme (UNDP) took their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja, on Tuesday, February 11, 2025.
The campaign, tagged “Insurance Literacy And Consumer Protection Campaign: A UNDP (Nigeria) Project 2025,” aimed to enhance financial resilience and promote inclusive insurance as a vital tool for reducing poverty and building financial inclusion. The UNDP representative, Mrs Bukola Ifemade welcomed participants to the event and expressed appreciation to all stakeholders.
A statement from NAICOM said key discussion points are Fire and Special Perils Insurance-Compensates traders for losses or damages caused by fire, storms, floods, and impact by vehicles or animals; Goods in Transit Insurance-Provides immediate financial compensation for losses or damages during transportation; Accident Insurance-Offers financial compensation for injuries or deaths resulting from accidents; Life Insurance- A vital tool for leaving inheritance for dependents in the event of untimely death.
The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, represented by Mr. Kenneth Aroh, emphasized NAICOM’s core mandate to protect policyholders and regulate the insurance industry.
Other stakeholders, including the Nigerian Council of Registered Insurance Brokers (NCRIB) and the Nigerian Insurers Association (NIA), also participated in the campaign, providing guidance on purchasing genuine insurance policies and verifying their authenticity.
Representative of the NIA, Mrs Toyin Akinmoya explained to the participants how to verify a genuine insurance policy by visiting www.niip.ng or www.askiid.ng.
The campaign was also marked by a group photograph and the distribution of awareness items, such as face caps, t-shirts, and flyers.
