Yemisi Izuora
Nigeria’s insurance regulator, the National Insurance Commission (NAICOM) has strengthened its collaboration with the Nigerian Customs Service (NCS) with the view to eliminate fake insurance certificates in the country.
The collaboration is also expected to boost revenue generation and ensure a hitch free settlement of claims in the industry.
Commissioner for insurance Mohammed Kari, firmed up the deal when he visited the Comptroller General, NCS, retired Col. Hameed Ibrahim Ali in Abuja.
Kari said the partnership would enable NAICOM to advise and guide customs properly so that the insurance industry could increase the services provided to importers and users of NCS services in Nigeria.
The commissioner said NAICOM was mandated in law to provide advice to government and its agencies on matters of insurance.
“Our role is to advise MDAs free of charge on the best way to package insurance, what to insure, how to price insurance and identify a very good intermediary to place businesses through,’’ he said.
Kari urged the customs to allow the commission have access to its electronic portal to enable them to identify and track down fake insurance certificates issued to importers.
According to the commissioner, There are a lot of fake certificates out there, and the certificates need to be confirmed as genuine. The custom service just arbitrarily charge 1.5 per cent of the imported goods for marine insurance for importation through the water ways and they charge 0.5 per cent for importation through the air ways.
Speaking further, he said, Unfortunately those premiums charged are not transferred further to the insurance industries they are kept in the customs services.
“ The idea is not only to make an income but to make sure that cover is provided in case there is a loss; there is a damage or inherent liability that has arisen from the transaction of that business.
“ We will ensure to find a way where the industry can get into the NCS’ portal so that all certificates can be checked on the portal without any problem in a click of a button,’’ Kari said.