NCRIB improves relationship with NAICOM
President of the Nigerian Council or Registered Insurance Brokers (NCRIB), Shola Tinubu, said the Council has improved its relationship with the regulatory authority, the National Insurance Commission (NAICOM) for the industry to survive and thrive.
He said this at the just concluded 2018 National Insurance Brokers Conference/Exhibition in Lagos, with the theme, “Insurance Industry: Survive, Thrive.”
Tinubu said the Council has been quite proactive in making suggestions and input aimed at ensuring effective legislation.
“In terms of ensuring more effective legislation, the Council has been quite proactive in making suggestions and input into legislations coming in form of guidelines to the broking sector” he said.
He said, “Without any equivocation, the relationship between the NCRIB and the National Insurance Commission (NAICOM) has improved, despite several challenges dotting our path.
We are all witnesses to the progress recorded by the Council in reducing the regime of fines and penalties usually imposed on Brokers several months ago, principally due to lack of knowledge or understanding requirements expected of them by the regulator,”
He expressed happiness that a lot has changed with better collaboration between the two institutions, believing that with understanding and cooperation “we shall turn all our perceived obstacles as operators to stepping stones for greatness.”
He said the council under his leadership has registered some modest achievements in various areas including giving more visibility to insurance brokers and promoting knowledge and competences through corporate visibility project and regular training progeammes respectively.
“The Council under the present leadership has been able to up the ante in terms of giving more visibility to Insurance Brokers and the Council through the corporate visibility project, has been extended to all zones of the country, while at the same time promoting knowledge and competences of members through organization of regular training programmes for members.
“It is also noteworthy that the Council has maintained good relationship with industry stakeholders, as well as other players outside the insurance industry for the benefit of our members.
Apart from the Theme paper “Insurance Industry: Survive, Thrive,” which was delivered by the Managing Director/Chief Executive Officer, Infrastructure Bank Plc, Mr. Adekunle Oyinloye; one of Nigeria’s leading female entrepreneurs and President of the National Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson, MFR led the discourse on “Grassroots Development and Poverty Alleviation: The Insurance Alternative.”
