The National Insurance Commission (NAICOM) has entered a formal partnership with the Nigeria Police Force to enforce compliance with the Nigerian Insurance Industry Regulatory Act (NIIRA) 2025. The collaboration focuses on ensuring mandatory insurance adherence and curbing unauthorised operations within the sector. Officials from both agencies confirmed the joint effort will involve coordinated monitoring and enforcement actions across insurance service providers. The move targets illegal operators who conduct insurance business without proper licensing. NAICOM stated the partnership aims to improve regulatory effectiveness through police support in field operations. The police affirmed their role will be limited to providing security and enforcement backup where required. No specific timelines or operational details of joint activities were disclosed. The NIIRA 2025 reform package includes updated licensing requirements and stricter penalties for non-compliance.
NAICOM is relying on police enforcement to achieve compliance, yet the source does not explain how this differs from past efforts that failed to stop illegal operators. If unlicensed firms have long operated without consequence, the new partnership must prove it can act where previous regulations could not. Nigerians using insurance services may remain exposed to risk if enforcement remains inconsistent. The success of NIIRA 2025 now depends on actions not yet demonstrated.
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