23rd September, 2014
Director-General, Nigerian Insurers Association, Sunday Thomas, has lamented that about 75 per cent of insurance certificates obtained by importers in the maritime sector are fake.
Compared to the value of goods that are being imported, Thomas emphasised that the estimated figure of leakage in the sector is about 75 per cent.
He is worried that the association does not get up to 25 per cent premium of what it should be getting from the marine sector.
Thomas revealed that some unscrupulous elements have been spreading fake insurance certificates in the maritime industry. He is however, confident that the electronic system, known as Nigerian Insurance Industry Database, NIID, would henceforth help the customs to verify authentic certificates.
“We are test running it now, by the end of this month, we will fully deploy it for the first three months and see its performance and the value added to the system,” he said.
Thomas added that the association is collaborating with stakeholders including banks, the Nigeria Customs Service, clearing agents, and importers. They will be sensitized to create the necessary awareness for the NIID.