We will soon create a portal to stop fake insurance papers – ASSBIFI

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

Here is the list of Providus Bank Branches in Lagos

A little over two years after it was granted a commercial banking license with regional authorization by the Central...

List of latest Ponzi schemes in Nigeria

These are the latest and past Ponzi scams and shady investment products that Nigerians are putting their monies into. What...

Insurance practitioners on Friday said that they would soon partner the Federal Government to create a common portal to check issuance of fake insurance documents in Nigeria.

Mrs Oyinkan Olasanoye, the President of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), disclosed this to the News Agency of Nigeria (NAN) in Lagos.

She said that the portal would be created in a way that only registered insurance practitioners would be able to log in to transact business and issue original insurance papers.

Olasanoye was reacting to a report that government was losing N6 billion yearly to fake insurance papers.

- Advertisement -

The report said that about 300,000 of the cargoes imported yearly through the nation’s airports and seaports were with fake insurance papers.

The report said that Nigeria realised about N112 billion between 2010 and 2016 by insuring just 700, 000 out of the 1.1 million imported cargoes yearly.

According to Olasanoye, government and insurance companies lose more than N6 billion annually since fake insurance papers are also procured for cars, lands, houses, health and journeys.

She said it was regrettable that procurement of insurance documents manually had increased the rate of counterfeiting.

Read Also:  For More Connected Cities: Mastercard Powers New Mobility Services with Kisio
- Advertisement -

“We are planning to work with the government to achieve a portal. With that, it will be difficult to produce a fake document,’’ she said.

Mr Sheikh Muhammed, the General Secretary, National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), advised that insurance agents should be properly monitored to reduce the menace of fake documents.

He said that the National Insurance Commission should keep a tab on activities of registered agents to detect those operating without licence.
Muhammed said that government and insurance sector had continually lost billions of naira to procurement of fake insurance documents which had also contributed to unemployment in that sector.

- Advertisement -
We will soon create a portal to stop fake insurance papers – ASSBIFIWe will soon create a portal to stop fake insurance papers – ASSBIFI

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

1 COMMENT

  1. […] SOURCE: https://brandspurng.com/we-will-soon-create-a-portal-to-stop-fake-insurance-papers-assbifi/ […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

We will soon create a portal to stop fake insurance papers – ASSBIFIWe will soon create a portal to stop fake insurance papers – ASSBIFI

Latest News

Vingroup to give 2,400 ventilators to Russia, Ukraine and Singapore

HANOI, VIETNAM - Media OutReach - July 11, 2020 - On July 10, 2020, VinGroup fulfilled its obligations to deliver ventilators...

Nippon Paint Reveals the Winners of the Asia Young Designer Awards 2019/20

Functional and sustainable winning entries of the year celebrated virtually with Nippon Paint SINGAPORE - Media OutReach - 11 July 2020 - Following the 13th instalment of...

COVID-19: Every Nigerian must take Responsibility, says Sanwo-Olu

Lagos State Governor, Mr. Babajide Sanwo-Olu on Saturday charged all Nigerians to take responsibility as the nation joins the global community in the fight...

FGN Bond Yields Moderate for Most Maturities Tracked on Sustained Demand Pressure

In the just concluded week, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated further for most maturities tracked amid demand...

FG Signs N10.8trn Budget amid Threats of Revenue Shortfall…

President Muhammadu Buhari on Friday, July 10, 2020, signed the revised N10.8 trillion 2020 national budget into law. A breakdown of the spending plan...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -We will soon create a portal to stop fake insurance papers – ASSBIFIWe will soon create a portal to stop fake insurance papers – ASSBIFI