The Nigeria Insurers Association (NIA) has disclosed that 5.8 million out of the 11.7 million registered vehicles plying Nigerian roads have fake insurance.
On the other hand, only 5.9 million Nigerian vehicles have genuine insurance certificates.
These figures, captured by the Nigerian Insurance Industry Database (NIID) of the NIA, were made available to THISDAY yesterday.
The NIA said 5.9 million vehicles with genuine insurance, were those that purchased their insurance policies from licenced insurance companies and are eligible to claims in the event of eventualities.
The National Bureau of Statistics (NBS) in its latest report on road transport had put the number of registered vehicles plying Nigerian roads at 11.7 million.