INSURANCE BROKERS URGED TO KEY INTO FEDERAL GOVERNMENT INITIATIVES
Members of the Nigerian Council of Registered Insurance Brokers (NCRIB) have been urged to key into the various Federal Government initiatives especially those relating to poverty alleviation in order to impact lives, and contribute to the growth of the industry and the national economy.
The Minister of Finance, Budget and National Planning Mrs (Dr) Zainab Shamsuna Ahmed, made the call in Lagos yesterday at the investiture of Barrister Oluwarotimi Edu, as the 21st President/of the Governing Council of the Nigerian Council of Registered Insurance Brokers (NCRIB)
While congratulating Barrister Rotimi Edu, on his election as the 21st President and Chairman in Council of the NCRIB, the Finance Minister, Budget and National Planning listed what the Federal Government is expecting from the new NCRIB President, Barr. Edu and the broking fraternity generally even as she commented on President Muhamnadu Buhari’s affinity with insurance Industry.
She also charged insurance operators to take advantage of the President’s support for the industry to change the industry’s narratives.
According to her, “In your new leadership position it will be expected that you and your council and indeed the entire Insurance Broking family will key into the various initiatives of the Federal government especially those relating to poverty alleviation.
“The Insurance sector in its more than 60 years history has never before this time enjoyed the closeness, romance and positive relationship with the Federal Government as we have presently under the administration of His Excellency President Muhammadu Buhari, GCFR.
“While insurance industry is celebrating these recent developments of support by the Federal Government, it will be a good opportunity for the insurance sector to impress in the heart of the general public and businesses the value of insurance as a financial instrument for protection and sustainability.”
She urged the leadership of all arms of the insurance sector to see this opportunity as a challenge to boost the image of the sector and move positively closer with a view to increase its visibility through efficient service delivery.
“The harmonious working relationship between the NCRIB and other stakeholders is commendable and we expect that this is sustained and improved upon. The issue of professionalism and business ethics must be taken seriously among members of the insurance broking fraternity and indeed the entire insurance industry. This will in turn improve the fragile image and perception of the sector by the populace.
“The incoming President and Chairman in Council of the NCRIB Mr Rotimi Edu, your deep knowledge about the industry, versatility and pedigree and recently a graduate of National Institute for Policy and Strategic Studies (NIPSS) which earned you Membership of the Institute (mni) certificate gives me the confidence that the Council under your leadership will be a formidable partner to your Regulator the National Insurance Commission and the government in the implementation of its various policies and initiatives.
“The Federal Government is not unaware of the challenges confronting businesses including the insurance sector and it is doing so much through various initiatives and policy rearrangements to ensure stability in the system.
Mrs Zainab Ahmed congratulated the outgoing President of the NCRIB, Dr. (Mrs) Bola Onigbogi for an excellent performance of the Insurance Broking fraternity during her tenure, noting that “not withstanding the challenges brought about by the emergence of Covid 19. Your effort no doubt assisted in mobilising the insurance industry’s support to the Federal Government in its fight against the Covid 19 pandemic. The Federal Government is grateful to the Nigeria insurance industry,” she added.