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Chuks Udo Okonta
Ganiyu Musa has been inaugurated as the Chairman, Council of Bureaux, ECOWAS Brown Card at the 37th Session of the Council, which held yesterday in Abuja.
Musa is the current Chairman, Nigerian Insurers Association (NIA) and Group Managing Director (GMD), Cornerstone Insurance Plc.
The 37th Ordinary General Assembly of the Council of Bureaux, ECOWAS Brown Card Insurance Scheme, with the main topic, ‘ECOWAS Brown Card Insurance : Emerging Challenges & Strategies for a better future’ held virtually in line with COVID-19 directives
The ECOWAS Brown Card Insurance Scheme was established by Protocol A/P1/5/82 signed by the Head of States and Governments of the Economic Community of West African States (ECOWAS), on 29th may 1982 in Cotonou, People’s Republic of Benin.
The main objective of the Scheme is to ensure prompt and fair compensation to the victims of road accidents for the damages caused them by non residing motorists travelling from other ECOWAS member States to their country. In Europe, Green Card is a similar scheme implemented in 1953.
The ECOWAS Brown Card Scheme operates through a 14 National Bureaux network spread throughout the fourteen Member States. Each National Bureau plays two major roles, which are; to ensure Brown Card availability for local motorists : National Bureau operates therefore as an Issuing Bureau and to conduct investigation and settle claims arising from an accident caused by motorist holders of Brown Card. It then acts as a Handling Bureau.
Musa in his acceptance speech, promised to address all the highlighted challenges bedeviling the success of the scheme, promising to leverage the successes already recorded to reshape and promote the scheme among West African countries.
He stressed that the brown card insurance scheme is an idea that could transform insurance, especially, motor insurance scheme across the borders of West African countries, adding that, it is an initiative that can raise insurance awareness and penetration across the region.
Musa is a highly experienced management professional with over 35 years of diversified experience in insurance, reinsurance, audit, consulting, business advisory and financial management. His professional experience started with Pannell Kerr Forster and later Arthur Andersen & Co where he trained and qualified as a Chartered Accountant and gained top quality experience in audit and financial consulting.
He subsequently worked at African Reinsurance Corporation for 19 years, holding key positions, including Director of Finance & Accounts/Chief Financial Officer and Deputy Managing Director.
He left Africa Re in 2011 to join African Capital Alliance (ACA), a leading pan-African private equity firm as Insurance Sector Specialist and a Director on the Board of Cornerstone Insurance Plc.
He joined Cornerstone Insurance Plc in 2012 as the Group Managing Director/CEO and he is the current Chairman of the Nigerian Insurers Association having also served as Deputy Chairman and Treasurer.
Ganiyu holds a Bachelor of Science (B.Sc. Hons.) degree in Business Administration and a Master in Banking and Finance (MBF) degree, both from the University of Lagos.