Insurers to Enforce NIN Compliance as Deadline Passes, Reject Claims from Defaulting Policyholders
By Able Ndubuisi
E-ISSN:2354-4481
Insurance companies in Nigeria have announced that they will no longer process or honour claims from policyholders who fail to comply with the mandatory linkage of the National Identity Number (NIN) to insurance policies following the expiration of the April 30, 2026 deadline.
The position was disclosed in Lagos by the Head of the Publicity Committee of the Insurers Committee, Mrs. Ebelechukwu Nwachukwu, after a meeting of industry stakeholders.
She stated that compliance with the NIN linkage directive has now become compulsory across the insurance sector.
According to her, “Regarding the NIN enforcement, you are all aware that the industry had a deadline of April 30th for all policyholders to comply. Accordingly, no claims will be paid to any organisation or individual whose NIN has not been updated.”
Nwachukwu also disclosed that the insurance industry is in the process of developing a Nigerian mortality table aimed at improving actuarial accuracy and enhancing risk-based pricing within the sector.
She noted that the mortality table is expected to be unveiled by the end of June 2026, although the industry has allowed an additional two-month window should further data be required to complete the project.
“Hopefully, the industry should be able to launch one by the end of June 2026. But we are giving ourselves a two-month window if all the required data has not been received to enable us to develop this mortality table,” she added.
On efforts to deepen financial inclusion and improve access to credit, she said the industry is set to establish a committee that will collaborate with the National Credit Guarantee Company of Nigeria.
The initiative, she explained, is aimed at defining and strengthening the role of insurance in supporting Nigeria’s expanding credit ecosystem, particularly for Micro, Small, and Medium Enterprises (MSMEs), individuals, and corporate organisations.
She further revealed that only 12 insurance companies have so far registered with the Nigerian Credit Bureau Limited, while just five are currently active participants.
