Regulatory Agencies Forge Landmark Partnership to Enhance Road Safety and Insurance Coverage in Nigeria

Three key Nigerian regulatory bodies; the National Insurance Commission (NAICOM), the Federal Road Safety Corps (FRSC), and the National Health Insurance Authority (NHIA) have formed a strategic alliance to reinforce the Motor Third-Party Insurance Scheme and enhance safety for the nation’s road users.

The alliance was formalized during a courtesy visit by the FRSC Corps Marshal, Shehu Muhammed, to the NAICOM headquarters in Abuja. During the meeting, Corps Marshal Mohammed commended the recent signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

He emphasized the critical need for enhanced data exchange between the FRSC and NAICOM. The Corps Marshal stated that a digitized system is essential for faster emergency response to accidents, ensuring victims receive timely compensation, and eliminating fraudulent insurance policies.

In his response, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, thanked the FRSC and outlined the provisions of the new NIIRA 2025. He explained that the law has fortified the compulsory third-party motor insurance and established a dedicated fund for road accident victims.

This fund will be managed by a committee that will include representatives from the FRSC, ensuring collaborative oversight.

The National Health Insurance Authority (NHIA) also voiced its strong support. Represented by Mr. Ajodi Nuhu Nasir, the NHIA expressed that this synergy will lead to a robust system that not only makes roads safer but also guarantees prompt and quality medical care for those injured in crashes, thereby reducing fatalities and serious injuries.

The agencies agreed on several key actions to implement this partnership. NAICOM and the FRSC will integrate their data systems for seamless information sharing and will launch a joint public awareness campaign on insurance and road safety.

A joint enforcement committee will be established to ensure compliance with insurance laws and tackle fake insurance certificates. Furthermore, the FRSC will include the verification of valid third-party insurance in its regular public awareness and enforcement activities.

This comprehensive collaboration aims to create a safer environment for all road users, ensure prompt treatment for accident victims, and protect the interests of the public. A date for the formal inauguration of the joint committee will be announced shortly.