INAUGURAL SPEECH DELIVERED BY THE 12TH CHAIRMAN OF THE LAGOS AREA COMMITTEE OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, MR OLUFEMI ODUWOLE, FIIN, FCIB, ON 12TH DECEMBER, 2024
The President of our Council, Prince Babatunde Adeleke Oguntade, FIIN,FCIB
The Chairman of this great event
Management Committee and Board Members of the NCRIB
The Outgoing Chairman and my respected brother, Mr Olutusin
Our respected past Chairmen of the LAC
Heads of all constituent insurance institutions here present.
Our esteemed members
Distinguished Ladies and Gentlemen
Gentlemen of the Press
Today marks another significant milestone in the annals of the Lagos Area Committee of The Nigerian Council of Registered Insurance Brokers (NCRIB), as I assume office as the 12th Chairman of the Area Committee. I must note with joy that it is not share coincidence, but divine ordination that I am emerging today as the 12th Chairman on of LAC on this 12th day of December 2024. I have implicit trust in the Almighty God that this would usher in phenomenal progress and tremendous fortune for the LAC under my leadership.
Deserving commendations must be given to all the past Chairmen, Elders and Members of the Area Committee for laying the mouding blocks upon which we have been building consistently. Being an insider in the running of the affairs of the Committee for some years, I have had the privilege of knowing the unselfish devotion that many of them have put into ensuring that the Area Committee exists and continues to flourish.
I cannot but appreciate the National President of our Council, Prince Babatunde Adeleke Oguntade for acquainting himself as a true and progressive leader, giving matchless inspiration to all the members of our Council and particularly this Area Committee. Your pragmatic strides since you assumed office has remained a great tonic for some of us coming behind you to perform in leadership positions such as this. Similar plaudits must go to my immediate indefatigable past Chairman, Mr Ademola Olutusin for his brotherly counsel and tutorship in leadership, under which I have been for some years now. Everyone could feel your passion to see and ensure a flourishing LAC through the various creatively ingenious programme that you initiated or presided over during your tenure as Chairman. There is no doubt that I would latch on my years of experience and unselfish service to the LAC as member of several committees before becoming Chairman to steer the rudder of the Area Committee to a safe harbour of excellence.
I cannot but also give immense thanks and recognition to two notable figures that the Almighty God used to raised me and direct my professional or career path. The two of them are; my uncle, Barr Olumide Oduwole (AIIN), from whom I drew great inspiration growing up. In my little mind, I had settled for accounting course in higher institution. But based on his rich insurance experience, being a top notch insurance practitioner showed me that the horizon in the insurance industry was quite brighter than accounting and urged me to change the course which I had already filled in my JAMB form. This I did without hesitation. The rest they say is story today, to God’s glory.
The second personality and destiny partner whom I hold immeasurable appreciation is my boss, mentor and a man I could unambiguously call my father, Hon. Lanre Laoshe, FIIN, FCIB. Our ways actually crossed when I approached his company (Leverage Insurance Brokers Ltd) for an internship position in the course of my OND course at the Lagos State Polytechnic. Seeing in me what many others may not have seen, Hon. Laoshe decided to give me all the life and career lifts that I desired. He retained me in the company while granting me permission to continue with my HND studies with pay. Ofcourse, on completion of the studies, I was retained while Hon. Laoshe also gave every encouragement for me to qualify for my Associateship of the Chartered Insurance Institute of Nigeria (AIIN). I was the best student in Insurance and Claims, prompting Hon. Laoshe to return all the expanses that I incurred on the course to me. Whatever I am today, cannot be divorced from his great support, leadership and generosity.
Distinguished colleagues, ladies and gentlemen, I am not unaware of the huge burden of leadership imposed on me as Chairman of our Area Committee. Being the foremost and largest Area Committee by virtue of its location and operation of most members, the LAC Executives and members must continually be the reference in professionalism and ethical standards. In doing this, we must see the need to sustain our collaboration and support for the National Executives of the Council in extending the frontiers of practice of all members.
I cannot but use this medium to note that our Area Committee must play its crucial path in growing the Nigerian insurance industry and changing its narratives positively. If follows that since the insurance industry is a “Brokers-Market”, the onus is on LAC which hosts the largest number of Brokers in Nigeria to be more ingenious in strategies for growth. This is why this leadership team would be quite open to fresh and progressive ideas capable of moving us forward in this intended direction.
Since leadership does not exist in a vacuum, as it is a continuum, I intend to latch on some of the lofty programmes of my predecessors while also coming up with new ones to the benefit of all members. In this vein, I have laid out the main thrust of leadership as follows;
STRATEGIC COLLABORATION
TRAINING & HUMAN CAPITAL DEVELOPMENT
IMAGE BUILDING AND STRATEGIC CAMPAIGNS
SUSTENANCE OF CATCH- THEM-YOUNG CAMPAIGN
Realising that the key to progress of the LAC is in forging progressive relationship with notable institutions, this leadership team would, through the support and endorsement of the national secretariat, sustain the tempo of relationship with strategic stakeholders in the professions and commerce. While making intercessions for members with the National Insurance Commission through the national secretariat, we would extend the frontiers of our collaboration to Area Committees or Branches of notable professional institutions like ICAN, CIPM, NIMN, etcetera to exchange ideas for growth.
TRAINING & HUMAN CAPITAL DEVELOPMENT
In a fast paced world, human capital development must be continuous. As a knowledge based institution, I would lead members to garner required knowledge through engagement of professionals within and outside the insurance industry to train members on dynamic issues affecting our lives and practice. I am happy note that during this tenure we would reinvent the LAC OPEN HOUSE where we choose a day in a quarter to have members listen to an insurance icon or a worthy personality speak to members in a convivial environment. This would further foster comradeship or fraternity which insurance practitioners have been noted for from the “Coffee House” days.
IMAGE BUILDING AND STRATEGIC CAMPAIGNS
During this tenure, we would not relent in promoting insurance knowledge and acceptance through messaging in local Nigerian languages. We would also spend more time to reach those who traditionally we had never reached but that must be captured in the financial inclusion net.
SUSTENANCE OF CATCH- THEM-YOUNG CAMPAIGN
While realising the huge strides that my predecessors have achieved in this area, my team would indeed sustain the campaign to schools to order to “indoctrinate” the younger ones with knowledge about insurance as future providers and consumers. In doing this, we would also be giving more attention to empowering the teachers of insurance more with the contemporary skill sets they need for quality impartation of knowledge on the students Happily, we have mapped out a programme, starting from January 2025 to train teachers in the public and private schools in Lagos State through online platforms, to be facilitated by highly resourceful practitioners among them the first female Professor of Insurance.
At the end of the training, the best three teachers that emerged would be given cash gifts and awarded scholarships to write the AIIN examinations.
While realising the huge sacrifice that the above would require, I am using this opportunity to enlist the support of all members as a tree, however huge, can never make a forest!
Once again, I appeal that you join in my your prayers and support so that together, we can make our Area Committee and by extension, our Council great.
Thank you for listening.
OLUFEMI ODUWOLE, FIIN, FCIB
12TH CHAIRMAN, LAGOS AREA COMMITTEE
