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SPEECH DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, DR (MRS.) BOLA ONIGBOGI, ACII, FCIB AT THE DECEMBER 2020 EDITION OF THE MEMBERS’ EVENING OF THE COUNCIL HELD ON THURSDAY, DECEMBER 17, 2020

Tunde Oguntade, Vice President, Nigerian Council of Registered Insurance Brokers (NCRIB); Ms. Adeolu Adewumi Zer, Chief Executive, Allianz Nigeria Insurance Plc; Dr (Mrs) Bola Onigbogi, President, NCRIB; Oyetunji Oshiyoye, Chief Customer Officer, Allianz Nigeria Insurance, and Fatai Adegbenro, Executive Secretary/CEO, NCRIB, during the December 2020 member’s evening of the NCRIB sponsored by Allianz Nigeria, in Lagos

SPEECH DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, DR (MRS.) BOLA ONIGBOGI, ACII, FCIB AT THE DECEMBER 2020 EDITION OF THE MEMBERS’ EVENING OF THE COUNCIL HELD ON THURSDAY, DECEMBER 17, 2020

• Distinguished Governing Board Members (here present)
• Managing Director, Allianz Nigeria Insurance Plc
• Top Management Team and Staff of Allianz Nigeria Insurance Plc
• Distinguished colleagues
• Gentlemen of the Press
• Ladies and Gentlemen,

I am most delighted to welcome you all to the December 2020 edition of Members Evening of our great Council, sponsored by Allianz Nigeria Insurance Plc, a company that prides itself in its rich history and integrity. No doubt, Allianz Nigeria Insurance Plc has again etched its name in the good books of Registered Insurance Brokers in Nigeria by opting to sponsor this event which incidentally, is the last edition in year 2020. Shortly, the Company would have the honour of addressing our Members who are physically present here and other members who have joined this meeting virtually. I can assure you that you have opted for the right time to address Brokers.

Permit me to use this opportunity to appreciate God Almighty; that in spite of all odds that characterized the year, we are still basking in His grace. I must also appreciate you, distinguished members, for your overwhelming support, both morally and financially since my emergence as the 20th President of the Council.

There is no doubt that your support has kept us strong. It’s heartwarming to note that we were able to hold some of our pre-scheduled programs for the year, in spite of the COVID-19 challenges that nearly brought the world to a grinding halt.

May I take this opportunity to thank the Management of Allianz Nigeria Insurance Plc for opting to host this event. It is my hope that Allianz would extract significant value for this laudable investment in terms of more progressive relationship with our Council and its members, henceforward.

NCRIB INPUT INTO INSURANCE BILL
It is most heartening that our Council was one of the notable stakeholders invited to make input at the Public Hearing on the Insurance Bill before the House Committee on Insurance and Actuarial Matters in Abuja from Monday December 14 to Tuesday, December 15th, 2020.

The Council definitely put up a good showing at the event and all the views that had been submitted by all members were part of the submission made at the Public Hearing. I assure we shall continue to watch and monitor proceedings concerning the law, with the hope that the outcome would be to the sustainable growth and development of our profession.

NATIONAL ISSUES
SPATE OF KIDNAPPING, KILLINGS AND OTHER VICES IN NIGERIA

There is no better time for our Council to join its voice in condemning out rightly the spate of killings, kidnapping and other vices bedeviling our country than now. It is so pathetic that some unscrupulous elements, under whichever guises, seem to have determined to make our nation unliveable. It was so disheartening when the news of about gruesome murder of 43 rice farmers at Kwashebe allegedly perpetrated by Boko Haram insurgents in Jere Local Government Area of Borno State filtered into the public. While the nation was still mourning the sad event, the unfortunate news of kidnapping of about 333 children of All-Boys Government Science Secondary School in northwestern Katsina State was aired. Even though, some of the children had been rescued, it still beats imagination that many of the victims are still allegedly in the confine of the kidnappers.

Some other unnoticed and unreported cases of killings, kidnapping and rape go on within the society. This crime and other crimes allegedly carried out criminal organizations negate all human principles and moral values and stand in contradiction to the clear teachings of any ideal or ethical standards.

As a Mother, I am deeply touched by the state of the kidnapped children and the family left behind by the rice farmers killed in their farms. Killing in the name of any religion or tribe is totally condemnable, and such act should not be condoned within the society.

We, therefore, urge all the Security apparatuses to swing into action, first of all, to rescue the kidnapped children. We also urged the Federal Government to up its game to ensure that security of lives and properties is paramount to the government.

It is through this that all the strides of government in reflating the nation’s economy could become a reality.

ADMISSION OF NEW FELLOWS 2021
It is my pleasure to inform you that the Council is in process of admitting more members into the prestigious Society of Fellows of our noble Council. As you are aware, the Fellowship Award is the highest and most prestigious award from the Council.

The Board of Fellows, ably headed by our revered Past President, Mrs. Laide Osijo, FCIB is working assiduously to make the award worth the while. They have spelt out unambiguously, the criteria for would-be members.

The form for interested members is readily available at the Council and could be downloaded from the Council’s website www.ncrib.net.

I am delighted to inform you that the current members of the Society, which include some notable net worth individuals in the country and overseas, had their Day known as Fellows Day just yesterday.

The admission of new members who would have scaled the hurdle for admission as stated in Section 6 Subsection 4a of the NCRIB Act No 21 of 2003 would be ratified at the next Board Meeting.

For more information, kindly contact the secretariat.

NEWLY ELECTED EXECUTIVES OF AREA COMMITTEES

I wish to congratulate the newly elected executives of three of the Council’s Area Committees who had their investitures recently. In particular, I congratulate the Chairman, Lagos Area Committee, Mr. Rotimi Olukorede and his executive members, his counterpart from Western Area Committee, Mr. Olusegun Adebayo and his team and Mr. Samuel Adeniyi Olukotun of Northern Area Committee and his executive members. I congratulate you for a successful transition.

I urge you not to betray the confidence reposed in you by your members who elected you in office. You must develop personal and collective initiatives to make our profession more renowned in your various jurisdictions.

STRONGER AND MORE IMPACTFUL INTRA-INDUSTRY RELATIONS

Permit me to state that since the insurance industry is a composite industry, the Council has continued to advance positive collaboration with other bodies within the industry such as the NIA, the CIIN and ILAN.

While sustaining the tempo of technical relations with the NIA, we have continued to encourage underwriters to always see the sense in patronizing only current members of the NCRIB for credibility.

We are not resting on our oars to educate the public to always insist on engaging only registered insurance Brokers when placing their insurances.

Our relationship with the National Insurance Commission (NAICOM) has also been enhanced, the result is obvious in our dealings with the commission.

We will continue to use every opportunity within our disposal to see better collaboration with the regulatory body.

Since I became the President of the Council. I have led a team of the Council on a courtesy visit to the Commissioner for Insurance, Mr. O.S Thomas in Abuja. The outcomes of the meetings were quite positive and remarkably encouraging.

IMPROVED VALUE FOR MEMBERS

If there is anything that has occupied the minds of many members of the Council for a while now, it is how the NCRIB could accelerate its value rendition to members.

I like to note that the agitation of members in this regard was not wrongly placed, considering the challenges they face on all ends, necessitating immediate collective solution from the Council.

In addressing this, our team has further intensified efforts to make the Council’s training more relevant, affordable and accessible. Council’s training were quite strategic after identifying in clear terms the immediate and future challenges threatening Brokers. Feedbacks from most of our trainings are quite impressive.

It is particularly heartwarming for me to announce that the present Management has produced a mini booklet on what Insurance Brokers do. This is expected to come handy for all Brokers as a means of enlightening and informing their clients (both existing or potential) about the roles of insurance Brokers. It should be a compendium for all.

CONCLUSION

BEWARE! COVID-19 IS STILL RAVAGING

While once again thanking all for their presence and for “Alliance” for opting to sponsor this event, I like to draw the attention to need for us to be conscious about the existence of Covid 19 around us.

The renewed surge of the pandemic should be taken with all seriousness by adhering to all health advisory including social distancing, regular hand washing and social distancing.

May the good Lord continue to keep us.
I wish you all a delectable Evening as I wish you merry Christmas and Happy New Year in advance.

BOLA ONIGBOGI, FCIB,
PRESIDENT/CHAIRMAN, NCRIB

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