Yemisi Izuora
The National Insurance Commission (NAICOM) and the United Nations Development Programme (UNDP), have taken their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja, in a bid to educate traders and the general public on the importance of insurance.
The exercise was conducted 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.
The traders were informed about Fire and Special Perils Insurance which compensates traders for losses or damages caused by fire, storms, floods, and impact by vehicles or animals and Goods in Transit Insurance, that provides immediate financial compensation for losses or damages during transportation.
They were taken through Accident Insurance that offers financial compensation for injuries or deaths resulting from accidents as well as 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.
The campaign was also marked by a group photograph and the distribution of awareness items, such as face caps, t-shirts, and flyers.
