From left: The Executive Secretary of the Nigerian Council of Registered Insurance Brokers, Fatai Adegbenro and President Shola Tinubu at the event.
SPEECH DELIVERED BY MR. SHOLA TINUBU, ACII, FCIB, PRESIDENT, NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS (NCRIB, AT THE MAIDEN PRESS CONFERENCE HELD AT INSURANCE BROKERS HOUSE, 58, MOLEYE STREET, ALAGOMEJI, LAGOS, ON WEDNESDAY, NOVEMBER 1, 2017.
It is my utmost pleasure to welcome members of the National Association of Insurance and Pension Correspondents (NAIPCO) to the maiden Press Conference to be addressed by me as the 19th President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers.
I am not unmindful of the importance of your association as well as your profession in propagating the news about insurance and its benefits. Without your doggedness and determination to sustain the good image of the industry through your effective reportage, the industry would probably have remained like the proverbial beautiful damsel winking in the dark. It is noteworthy that you have become an integral part of the Nigerian Insurance Industry contributing significant quota through your balance write-ups and reports to project the industry in good light. I must confess that, personally, I have read some of your reports and analysis, both in print and online and I am satisfied with your level of support. This media interaction, coming barely two weeks after my investiture, was to further entrench the importance of your profession in achieving our goals and aspiration as encapsulated in my thrust of office.
It may interest you that prior to the investiture ceremony, my team and I had worked assiduously to arrive at one, but octopus sustainable agenda, that will ensure that Insurance Broking profession stand at par with its counterparts anywhere in the world. Definitely, this is an agenda that is intended to outlive this tenure and that is why, both the Deputy and Vice President of the Council had been deliberately made a part of its conception and subsequently the implementation. Essentially, our agenda and vision is to project NCRIB as a strong institution that will be propelled by professionalism. As a body that has international affiliation with organization like British Insurance Brokers Association (BIBA), we are under obligation to benchmark our operation and growth pattern with such global institution. Among other things, we will ensure that the position of the President remains a ceremonial position, just like a Chairman of Board of corporate institutions, in consonance with provisions of Corporate Governance. The implication of this is that we shall empower the secretariat to discharge its responsibilities as it is expected. We are all aware that non-executive position change from year to year, leaving the secretariat permanent, and to ensure genuine institutional building, the Secretariat must be adequately empowered to drive the process at all times.
Being the first meeting with you gentlemen of the media, I think it is quite apposite for me to reiterate my thrust of office for effective reporting and the records:
Institution Building: We will look holistically into the structure within the purview of law with the aim to building an enduring frame work for the Council. I am looking towards a Council that will be able to relate with other regulatory bodies on behalf of the Brokers without interference. For instance, it should be the responsibility of the Council to relate with NAICOM on behalf of the Brokers, bearing in mind that the President is primarily a broker with interest.
• Seamless Succession plan: Like I had earlier mentioned, we have drawn a ten year agenda for our Council. This was done in agreement with my next two successors, that is, the Deputy President and the Vice President. This is to ensure that we bequeath a well-entrenched institution to upcoming generation.
• Streamlining office of President to ceremonial roles: I am looking at an institution where the President has a ceremonial overview of the Council, giving the Executive Secretary/Chief Executive Officer and his team a level of empowerment as it is obtainable in other professions and other climes. The Secretariat is the regulatory body for the Brokers and the President is a Broker and a competitor with other Brokers in the industry.
• Value addition to members: As part of our agenda, we will open up retailing business which will increase insurance penetration. The Council will also continually invent ingenious programmes and explore opportunities for our members to enhance their interest and commitment to the NCRIB as their professional body.
• Prudence and cost reduction as well as acceleration of revenue sources for the Council
Bearing in mind the challenging economic climes that we operate today, the Council will see to it that all avenues to generate more revenue are deployed. We shall explore all our latent potentials and see to it that they become cash cows for us, bearing in mind that our Council does not enjoy any form of subvention or statutory financial support from any quarter.
• Enforcement of ethical standards:
This will also occupy the mind of this administration. We can never talk enough about the need to entrench discipline and ethics as it is the hallmark of the professions. We shall encourage members to embrace ethical practices, promote self regulation and strengthen the Investigation and Disciplinary committees of the Council to be able to meet the daunting task of entrenching sound discipline and ethics amongst our members.
• Effective collaboration with other industry operators:
Realising that no constituent body can stand alone but would be more effective through effective collaboration, this administration will forge more progressive relationship with other stakeholders in the industry, namely; the NIA, the CIIN and ILAN. We shall be more proactive in dealing with industry issues and stop at nothing to ensure positive relationship that will project the industry in positive light.
• Effective collaboration with NAICOM:
Our disposition towards NAICOM would be that of collaboration and support. We shall continue to educate our members on areas that would assist them to effectively adhere to regulatory mandates of the Commission and would not shy in interfacing between them and the Commission for a peaceful and progressive practice. We shall continue to strengthen the Help Desk, to assist members which have issues with Commission with a view to resolving them.
Ladies and Gentlemen of the media, I cannot end my speech without sparing a word of congratulations for the newly appointed Secretary to the Federal Government, Mr. Boss Mustapha. Our Council has no doubt that his robust pedigree in law, politics and statecraft would assist him to excel brilliantly in office. We wish him well in office.
At this juncture, I like to sincerely appreciate you once again for making out time to attend this maiden press conference, in spite of your busy schedule. Definitely, this is the beginning of a progressive relationship between your media houses and our Council. I would also enlist your unrelenting support and cooperation for a progressive NCRIB.
SHOLA TINUBU, FCIB
President/Chairman, Governing Board