Oguntade Reaffirms NCRIB Legal Status, Warns Clients To Be Wary Of Unethical Players
L-R: President, Professional Insurance Ladies Association (PILA), Mrs. Bimbo Onakomaiya; Executive Secretary/CEO, The Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tope Adaramola; Deputy President, NCRIB, Mrs. Ekeoma Ezeibe; President, NCRIB, Prince Babatunde A. Oguntade; Managing Director/CEO, Enterprise Life Assurance Company Nigeria Limited, Mrs. Funmi Omo; General Manager, Retails, Enterprise Life Assurance, Mr. Bolorunduro Saliu and Past President, NCRIB, Chief Babajide Olatunde-Agbeja at the December Edition of NCRIB Members’ Evening held in Lagos
The Nigerian Council of Registered Insurance Brokers (NCRIB) has reaffirmed its status as the legally recognized professional body for Registered Insurance Brokers in Nigeria, dissuading unsuspecting clients to be wary of unethical players in the insurance industry.
Speaking at the December edition of the Council Members’ Evening held in Lagos, the NCRIB President, Prince Babatunde Oguntade, noted that there were fallacious insinuations by some unethical players in insurance broking practice who go around peddling falsehood about the status of the Council.
Oguntade, according to a statement by the Council’s Spokesman, Mr. Oladele Ayeleso today, explained that the NCRIB Act No 21 of 2003 remains sacrosanct as the law that empowers the Council to regulate the practice of Insurance Broking and keep the register of all Registered Insurance Brokers in Nigeria.
Oguntade stated in the statement, “That same law made membership of the NCRIB the condition precedent to licensing by the National Insurance Commission (NAICOM). It is ludicrous for any persons or group of persons to operate in the market without registering with the NCRIB.
“Clients who do business with such deviants do so at the risk of disobeying the law and stands the risk of engaging charlants with grievous implications to their insurances”
The Council’s President who urged members to adhere to various regulatory and compliance requirements expected of them advised on the use of membership legal seal to distinguish their companies from charlants and to validate documents emanating from their companies.
