Mohammed
Kari, Commissioner for Insurance, National Insurance Commission of
Nigeria, NAICOM, on September 14, 2017 engaged with Ibrahim Magu, acting
Chairman of the Economic and Financial Crimes Commission, EFCC,
on fashioning strategies to combat fraud in the Insurance Sector.
“As
a regulator, we do not have powers to prosecute offenders, but we can
only report suspicious activities to the EFCC,” he said.
Kari,
who led a team to the EFCC Headquarters on a visit, noted that there
was an urgent need for the anti-graft agency to beam its searchlight on
the sector, in order “to consolidate on the gains achieved”.
“We
need your partnership in the areas of investigation, prosecution and
calling erring operators to order, in line with the relevant laws,” he
added.
He
further explained that NAICOM had received inquiries on some persons
and companies from the EFCC, which were being acted upon.
In
his response, Magu intimated the NAICOM team, that an Insurance Fraud
Unit, was in existence in the EFCC, in realisation of the increasing
cases of fraud being perpetrated in the insurance sector. According to
him, the EFCC needs the assistance of NAICOM to help its operatives
further understand the insurance industry.
He
further stressed that both organizations were working to achieve same
purpose of sanitizing the sector, and described the tasks ahead as “very
tough and challenging”.
“We
have come a long way and will continue together to fight the corruption
menace,” he said, and stressed the need to sensitize the public about
insurance-related fraud.
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