Highlighting NCRIB’s new president agenda
New NCRIB President, Dr (Mrs) Bola Onigbogi
There was a change of leadership in the Nigerian Council of Registered Insurance Brokers (NCRIB). In this article, EDET UDOH highlights the two year-tenure agenda of the new president.
Change of leadership
In November 2019, the mantle of leadership at the Nigerian Council of Registered Insurance Brokers (NCRIB), the umbrella body for registered insurance Brokers in Nigeria, was transferred from Mr. Shorla Tinubu, the former President/Chairman of the Council to his successor, Dr (Mrs) Bola Onigbogi, as the new President/Chairman of the Council at an elaborate investiture ceremony at the Congress Hall of the Transcorp Hilton, Abuja.
The Vice President, Prof. Yomi Osinbanjo, was the Special Guest of Honour, while Justice Roseline Ukeje was the Chairman.
In attendance also included the Ooni of Ife, Impartial Majesty, Oba Adeyeye Ogunwusi, and the Acting Commission for Insurance, Mr. Olorundare Sunday Thomas, other top government functionaries and chieftains of industries as well as insurance professionals.
Policy Thrust
Dr. (Mrs) Bola Onigbogi, while speaking at her investiture as the 20th President and the second female president of the 57-year old professional institution, at the Transcorp Hilton, Abuja, said the thrust of her office for the two years, among other things, would be building the image of insurance brokers and at the same time ensuring strategic engagement with key stakeholders in government and the economy.
Other areas she intend to focus on, according to her, include professionalism; enhancement of broking fraternity; manpower development for members; strong institution building and financial solvency; mentoring; Trust and industry collaboration; government relations; relationship with National Insurance Commission (NAICOM) and international relations.
According to her, the insurance Broking profession must be given enhanced visibility to improve appreciation of its roles in the insurance value chain as well as to further underscore its crucial contributions to national economic growth.
She opined that Brokers who are the professional intermediaries in the insurance value chain needed to be properly positioned in the nation’s financial ecosystem through image building and effective engagement of strategic stakeholders in the country and beyond.
“There is no better time to improve the image and perception of insurance Brokers than now. We shall face the daunting task of improving the perception of the insurance Brokers in the eyes of all members of the public through strategic actions that would involve the engagement of all stakeholders that insurance Brokers relate with,” she said.
Onigbogi added that projecting the image of the Brokers would take into cognizance the need to continually improve on the manpower needs of the individual practitioners with a view to making their services friendlier, speedy, honest, and ethical. Other thrust of the tenure, she stated include:
Pursuit of professionalism
This is apparently the hallmark of any reputable professional institution. Whilst reckoning with the fact that paper qualification is the first step towards professionalism, more attention will be paid to issues such as adherence to ethics, business relationship amongst operators and continuous education to buoy up the competencies of Brokers. The regime would promote a blend of learning and interpersonal relationships. Whilst individual Brokers will continually be attuned to their professional responsibilities, the regime will also concern itself significantly with how Brokers are perceived by the clients or the public.
Mentoring
Still on professionalism, mentorship of the younger ones and the upcoming insurance broking professionals would be given premium attention and this would be achieved through a well-articulated mentorship programmes.
The regime will begin deliberate efforts to incorporate the younger professionals in broking into the mainstream of NCRIB activities and policies making processes.
A yearly recognition of outstanding young professionals within the insurance broking profession shall be made with an award to be called “Young Insurance Broker of the Year” as a source of motivation to the upcoming generation.
Enhancement of broking fraternity
The leadership shall aggressively pursue the advancement of members’ interest. Members shall be treated in recognition of their individual rights and protect their individual and collective interests at all times. The Council shall ensure that every member would be proud to belong to the NCRIB as the Council under this leadership would ensure admission of new members under all categories that are spelt out under the NCRIB Act.
Manpower development for members
The Council’s management shall continue to pay attention to training and retraining of its members across all the various Area Committees in the country. The Area Committees shall be encouraged to be more ingenious in coming up with more relevant and adaptive training strategies that will benefit members across all the membership strata.
Strong institution building and financial solvency
It is the intention of this regime to sustain the building of a strong and virile institution by continually strengthening the secretariat to play its roles most optimally. We shall look into those areas that could enhance the financial state of the Council for it to deliver on its mandate. We shall also deploy prudential guidelines to ensure the elimination of waste in the course of the tenure.
Trust and industry collaboration
Since insurance broker and the Council cannot operate in isolation or in a vacuum, this administration will be more strategic in its relationship with all the constituent bodies in the insurance industry, namely: The Nigerian Insurers Association (NIA), Chartered Insurance Institute of Nigeria (CIIN), Institute of Loss Adjusters of Nigeria (ILAN) and Professional Insurance Ladies Association (PILA). The new leadership would further strengthen intra-industry collaboration with all these bodies.
Also, the Joint Technical Committee of NIA/NCRIB would be invigorated to enhance market collaborations and harmony, which is in dire need in the industry at this moment. The Council will continue to sustain its active roles in Insurance Industry Consultative Committee (IICC).
NCRIB-Government relations
There has always been a missing link in relation with the Government and its agencies. This has resulted in lack of proper and effective implementation of various initiatives espoused by the operators in the industry. Efforts would be geared towards engaging various government agencies such as Nigeria Police, Customs services, National Pension Commission (PenCom), Federal Road Safety Commission (FRSC) and others needed to assist in facilitating the enforcement of various compulsory insurances such as Motor, Marine, Group Life, Insurance of Public Buildings amongst others.
The Council will strive to make deliberate efforts to curry the support of the three arms of government to tilt opinion and support in favour of the insurance broking in particular and the industry at large. Towards achieving this, the administration would evolve such events as “Open Days” with relevant government agencies as well as striving to log into the activities of the executive and the legislators. The Government Liaison Committee would be rejigged to assist in this direction.
Relationship with NAICOM
It is the intention of this administration to leverage on the existing improved relationship between NAICOM and our Council. Our approach shall be proactive and not reactive. Regular interactive platforms to discuss issues affecting Brokers would be created between the two institutions for the benefit of members.
Whilst realizing the superintendent functions of the Commission, the Council would make the Help Desk perform optimally by interfacing between the Council Members and the Commission, for a more harmonious and beneficial relationship.
International relations
The regime would sustain the tempo of relationship with international institution, such as the British Insurance Brokers Association (BIBA) Conference. Efforts would be made to bring international resource persons to impact knowledge on members who may not have the wherewithal to travel to the international events. Efforts would be made also to see to the possibility of the Council having a pivotal slot in the African Insurance Brokers Association (AIBA) leadership.
Dr. (Mrs.) Bola Onigbogi’s profile
However, be it regulatory or membership issues, Dr Onigbogi are not a green-horn in the terrain. She has the ability to withstand storms as she has, sometimes in the past, fought several battles and had conquered many.
She has over two decades experience in insurance practice and has once piloted the affairs of Abuja Area Committee of the NCRIB as the chairperson.
She had also served on the board of the council on strategic committees, peaking with the position of Deputy President from where she would be installed president.
Her intellect and social relationship earned her strategic roles and positions in several social and professional organisations.
Aside from being a Fellow of the Institute of Management Consultants of Nigeria (IMC) and Past President of the Busy Bees Society of the Cathedral of Church of Advent, Life Camp, Abuja, Dr. Onigbogi is the first female President of the Hotel Owners Forum Abuja (HOFA) during which she provided effective leadership to the over 600 strong members of the association.
She was past president of Inner Wheel Club of Garki, Abuja Humanitarian Services, as well as member of the IBB Golf Club, Abuja.
An insurance Broker with a niche, Dr. (Mrs.) Onigbogi has had a very robust experience and made invaluable contributions to the insurance industry through the Chartered Insurance Institute of Nigeria (CIIN), the Professional Insurance Ladies Association (PILA) and most importantly, the Nigerian Council of Registered Insurance Brokers (NCRIB).
Dr. Onigbogi was also chairman of the Abuja chapter of the Chartered Insurance Institute of Nigeria and the Professional Insurance Ladies Association (PILA), during which she recorded landmark feats.
Born in Ilesa, Osun State, she is a Chartered Insurance practitioner, educationist, hotelier and philanthropist.
She had her secondary education at Ilesa Grammar School, from 1973 to 1977 where she obtained her West African School Certificate.
Her quest for the teaching profession prodded her to enroll at the Government Teachers Training College in 1977 and she obtained the Teachers Grade Two Certificate in 1978. She was also later admitted at the University of Ife (Institute of Education, otherwise known as Adeyemi College of Education, Ondo where she obtained her National Certificate of Education (NCE) in 1983.
Mrs. Onigbogi had her one year compulsory National Youth Service Scheme as a Teacher at the Baptist Academy, Obanikoro, Lagos. Still exploring the world of education, she was employed by the Lagos State Teaching Service and was deployed as a school teacher in Aje Comprehensive High School, Lagos, where she worked between1984 to 1992.
Bola Onigbogi found herself in the new field on insurance having gained employment with Limo Insurance Brokers Limited as a Senior Superintendent rising from the position of Senior Superintendent to Assistant General Manager, General Manager and Deputy Chief Executive Officer in 1996.
She started her own company, CBO Insurance Brokers Limited, where she has been the Managing Director and CEO to date.
She attended the Prestigious London School of Insurance in the United Kingdom where she took the professional qualifying examinations of the Chartered Insurance Institute of London and a Higher National Diploma Certificate of the Institute with distinction in Risk and Insurance.
She was consequently admitted as an Associate Member of the Chartered Insurance Institute of London (ACII) in 1998 and Chartered Insurance Institute of Nigeria (ACIIN).
She later obtained a Master’s Degree in Business Administration from the Business School of Netherlands.
Bola Onigbogi takes over from Mr. SholaTinubu , the 19th President of the council who had served for a period of two years as stipulated by the constitution of the Council.
