Enforcement Of 3rd Party Insurance Policy In Nigeria: Adebayo Adeloun & Co Hosts Sixth Quarterly Roundtable
THECONSCIENCE NG reports that On September 20, 2025, at 10:00 a.m., Adebayo Adeloun & Co, a prominent legal practice, convened its sixth quarterly roundtable focused on the enforcement of third-party insurance policies in Nigeria. The event gathered a diverse group of stakeholders from the legal, insurance, regulatory, and transportation sectors to deliberate on the challenges and opportunities surrounding the effective implementation of third-party insurance.
The roundtable was graced by notable guests including B.R. Gold, SAN, Yunus Lambo Akanbi, and Professor Saka Olokoba, who served as a key resource person. Professor Olokoba provided insightful commentary on the legal frameworks governing third-party insurance and emphasized the urgent need for stricter enforcement to protect motorists and pedestrians alike.
Representatives from the insurance industry also played a vital role in the discussions. Ogundoyinbo Olawale Ayoka and Mrs. Bunmi Ige, the Branch Manager of Cornerstone Insurance PLC, highlighted the operational hurdles insurers face and proposed collaborative strategies to enhance compliance and public awareness about third-party insurance policies.
Several legal luminaries, including Babatunde Olomu, Alhaji K.K. Eleja, Professor Mubarak Adekiledun, and Honorable Justice Saliu Saidu, contributed perspectives on judiciary support and policy reforms needed to strengthen enforcement mechanisms. Their discussions underscored the importance of judicial backing to curb insurance fraud and non-compliance.
The Chief Registrar of the Kwara State High Court of Justice, Mrs. Kudirat Yahaya, who led the opening prayer, set a solemn tone for the proceedings. Other dignitaries in attendance included NBA Chairman S.M.H. Kosemani, CEO of Gerri FM Ilorin Dr. Mahmud Abdulraheem, and NBA Secretary O.D. Jimoh, all of whom reinforced the need for cross-sectoral collaboration.
Regulatory voices were represented by Dr. Omobanji, Zonal Director of the National Insurance Commission (NAICOM), who stressed the commission’s commitment to enforcing existing insurance laws and educating the public. Engr. Isiak Ayuba, Chief Vehicle Inspection Officer (VIO), and the sector commander of the Federal Road Safety Corps (FRSC) shared frontline insights on the operational challenges faced in enforcing vehicle insurance compliance.
Leadership from the transportation sector rounded out the discussions, including the CEO of Kwara State Road Traffic Management Authority (KWARATMA), the Head of Traffic Unit, Nigeria Police Force (NPF), and chairmen of key transport unions such as the Nigeria Association of Cooperative Transport (NACT), Tricycle Owners Association of Nigeria (TOAN), National Union of Road Transport Workers (NURTW), and Road Transport Employers Association of Nigeria (RTEAN). These leaders emphasized the critical role of transport operators in ensuring third-party insurance coverage and the benefits it offers to the wider public.
The roundtable concluded with a call for strengthened partnerships among legal practitioners, insurance companies, government agencies, and transport unions to foster a culture of compliance. The forum highlighted that the enforcement of third-party insurance policies is crucial for reducing road accidents’ financial impact and enhancing overall road safety in Nigeria.
