Insurance companies across Nigeria have announced that policyholders who failed to link their National Identity Number (NIN) to their insurance policies before the April 30, 2026 deadline will no longer be eligible to receive claims.
The disclosure was made by the Head of the Publicity Committee of the Insurers Committee, Mrs. Ebelechukwu Nwachukwu, during a briefing with journalists after a meeting of the committee held in Lagos.
According to Nwachukwu, compliance with the NIN linkage directive has now become compulsory throughout the insurance industry, stressing that affected individuals and organisations who failed to update their records would bear the consequences.
She explained that the industry had previously communicated the deadline to policyholders and maintained that the enforcement process would now take full effect.
“Regarding the NIN enforcement, the industry had a deadline of April 30 for all policyholders to comply. As a result, no claims will be paid to any organisation or individual whose NIN has not been updated,” she said.
She further disclosed that the insurance sector is making efforts to improve its risk management and actuarial standards through the development of a Nigerian experience mortality table.
According to her, the mortality table, which is expected to improve risk pricing and data-driven decisions within the industry, is projected to be launched by the end of June 2026. However, she noted that stakeholders have allowed a two-month extension period in the event additional data is needed 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 improve financial inclusion and expand access to credit, Nwachukwu revealed plans to inaugurate a committee that will partner with the National Credit Guarantee Company of Nigeria to establish the role insurance can play in strengthening the country’s emerging credit system.
She noted that the initiative is expected to support easier access to credit facilities for Micro, Small and Medium Enterprises (MSMEs), individuals and corporate organisations.
Nwachukwu also disclosed that only 12 insurance firms have registered with the Nigerian Credit Bureau Limited so far, while just five companies are currently active participants in the system.
Insurance Firms to Deny Claims Over Unlinked NIN as Industry Enforces Compliance Deadline
