The National Cooperative Insurance Society of Nigeria (NCIS) has reaffirmed the legitimacy of its motor vehicle third-party insurance certificates issued through its USSD portal and other online platforms.
Speaking at a press conference in Abuja on Wednesday, NCIS Director, Mr. Adetokunbo Adesanya, urged members to disregard misinformation suggesting that third-party insurance is only valid if obtained from a specific platform. He emphasized that the NCIS, as a cooperative organization, is solely responsible for issuing cooperative insurance certificates to its members, operating under the Federal Department of Cooperative within the Federal Ministry of Agriculture and Food Security.
Adesanya encouraged members to utilize the organization’s various digital platforms, including the USSD portal and online verification tools, to confirm the authenticity of their insurance certificates. He also urged security agencies and other stakeholders to recognize the validity of NCIS-issued third-party insurance, which can be easily verified through the society’s online platforms.
“We are a creation of the Federal Department of Cooperative, under the Federal Ministry of Agriculture and Food Security. We were licensed and empowered to provide a range of insurance services, including cooperative motor vehicle insurance, which covers both liability and own damage sections. The liability section, commonly known as motor vehicle third-party insurance, is legally mandated,” Adesanya stated.
He reassured members that any valid third-party cooperative insurance certificate issued by NCIS is recognized and can be verified through the organization’s USSD portal and social media channels.
Highlighting other services provided by NCIS, Adesanya noted that the organization also offers comprehensive accident and health insurance, group accident and health coverage, and mortgage insurance schemes. He emphasized that no cooperative insurance organization can offer mortgage insurance without NCIS coverage, as it serves as the primary authority for cooperative insurance in Nigeria.
Furthermore, he clarified that NCIS operates as a humanitarian insurance body and differs from commercial insurance providers registered under the Corporate Affairs Commission (CAC) and licensed by the National Insurance Commission (NAICOM).
Supporting NCIS’s stance, Corps Commander Adetunji Oki of the Federal Road Safety Corps (FRSC) reiterated the importance of valid third-party insurance, noting that it helps prevent conflicts at accident scenes.
“If every motorist has a valid insurance policy, resolving accident disputes becomes easier. In FRSC, we ensure that all insurance companies provide valid policies so that claim processes are straightforward when needed,” Oki stated.
NCIS remains the apex cooperative insurance body in Nigeria, operating under the Nigerian Cooperative Societies Act of 1994 and regulated by the Federal Department of Cooperative. Its mission is to provide inclusive, accessible, and effective insurance services to cooperative societies and their members nationwide.
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