NCIS clears air on Third-Party insurance certificates

The National Cooperative Insurance Society of Nigeria (NCIS) has affirmed that motor vehicle third-party insurance certificates issued to its members via its USSD portal and other online platforms are genuine and valid.

The organisation made this clarification on Wednesday in Abuja during a press conference aimed at setting the record straight and dispelling any misconceptions. It also urged its members to continue their activities as usual, using the certificates issued by the organisation with confidence.

Addressing stakeholders, the Director of the Society, Mr. Adetokunbo Adesanya, encouraged members to disregard misconceptions suggesting that only motor third-party insurance obtained from a particular platform is valid.

He emphasised that NCIS is a cooperative organisation with the exclusive responsibility to issue cooperative certificates to its members. He further stated that the organisation is regulated solely by the Federal Department of Cooperative under the Federal Ministry of Agriculture and Food Security and is not subject to oversight by any other body.

Mr. Adesanya urged members to utilise the various verification platforms available, such as the USSD portal, Google Search, and other online portals, to confirm the authenticity of their certificates. He also called on security agencies, as key stakeholders, to take note that NCIS has a dedicated portal for certificate verification.

He reiterated that NCIS is a federal government agency responsible for coordinating cooperative insurance activities across the country. The organisation derives its authority from the Nigerian Cooperative Societies Act 1994.

According to him, “We are an entity established by the Federal Department of Cooperative under the Federal Ministry of Agriculture and Food Security. We have been licensed and empowered to offer a range of insurance services and products.

“One of our key services is cooperative motor vehicle insurance cover, which includes both the liability section and the own damage section. The liability section, mandated by law, is known as motor vehicle third-party insurance.

“Our members who have insurance coverage receive a certificate as proof of compliance with the liability section, which is motor vehicle third-party insurance. These certificates are valid, and we urge our members to go about their business with confidence, provided they hold a valid cooperative insurance certificate issued by NCIS. Any valid insurance certificate issued by NCIS can be verified on our USSD portal and other online platforms.”

He also highlighted other services provided by the Society, including comprehensive accident and health insurance, group accident and health insurance coverage, and the mortgage insurance scheme.

Mr Adesanya noted that no cooperative insurance organisation is permitted to provide mortgage insurance without obtaining NCIS cover, as NCIS serves as the primary authority for cooperative society insurance in Nigeria.

He further explained that NCIS operates as a humanitarian insurance body and should not be compared with commercial insurance companies registered with the Corporate Affairs Commission (CAC) and licensed by the National Insurance Commission.

Speaking at the event, Corps Commander Adetunji Oki from the Motor Vehicle Administration, Federal Road Safety Corps (FRSC), stated that the Corps supports NCIS because it promotes the use of third-party motor insurance. He highlighted that the initiative aims to eliminate conflicts that often arise at accident scenes.

“If we all have valid insurance policies, resolving matters after an accident becomes straightforward—simply exchanging policy details and moving on. That is why the FRSC ensures that all insurance providers offer valid policies so that, when required, claimants can be assured of insurance coverage,” said Mr. Oki.

NCIS is the apex cooperative insurance body in Nigeria, established under the Nigerian Cooperative Societies Act 1994. It is regulated by the Federal Department of Cooperative (FCD) under the Federal Ministry of Agriculture and Food Security.

Its mandate is to ensure cooperative societies and their dependants, with a core objective of fostering inclusivity and enhanced stakeholder participation. Through this, the provision of insurance services for members is effectively managed and administered.