Nike PopoolaDespite the fact that it is mandatory for all vehicles to have a minimum of third party motor insurance certificates, there has been a decline in the number of vehicles with genuine insurance certificates on Nigerian roads, NIKE POPOOLA reportsThe number of vehicles with fake certificates on Nigerian roads rose to 9.04 million according to latest figures obtained by our correspondent. Figures obtained from the Nigerian Insurers Association revealed that only 2.72 million vehicles on Nigerian roads had valid insurance covers as of February. The NIA had in February 2016 disclosed that about 4.3 million vehicles had been registered on its Nigerian Insurance Industry Data. In January 2019, the association revealed that just over three million vehicles were still on its NIID, which showed an increasing number of fake certificates on Nigerian roads. The Insurance Act 2003 mandates all motorists to have a minimum of third party motor insurance policy in place.

Source: Punch March 14, 2021 23:37 UTC