Papers

SPEECH DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, MR. ROTIMI EDU, mni, FCIB AT THE APRIL 2022 EDITION OF NCRIB MEMBERS’ EVENING HELD ON TUESDAY, APRIL 26, 2022 IN LAGOS.

From left: Tope Adaramola, Executive Secretary, NCRIB; Ekeoma Ezeibe, Vice President, NCRIB; Tunde Oguntade, Deputy President, NCRIB; Rotimi Edu, President, NCRIB; Benedict U. Ujoatuonu, Managing Director/CEO, Universal Insurance Plc, and Michael Olawale-Cole, President, Lagos Chamber of Commerce and Industry, during the NCRIB members’ evening sponsored by Universal Insurance Plc, in Lagos on Tuesday.

SPEECH DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, MR. ROTIMI EDU, mni, FCIB AT THE APRIL 2022 EDITION OF NCRIB MEMBERS’ EVENING HELD ON TUESDAY, APRIL 26, 2022 IN LAGOS.

• Distinguished members of the NCRIB Governing Board,

• The Managing Director, Universal Insurance Plc, Mr. Benedict Ujoatuonu

• Chairman of the Insurance Group LCCI; Mr. Gboyega Olanbiwoninu,
• Other representatives of LCCI here present

• Our distinguished Guest, Nollywood Actor, Mr. Segun Arinze

• All our guests,

• Gentlemen of the Press,

• Ladies and Gentlemen,

I am quite delighted to welcome you all to the April 2022 edition of NCRIB Members’ Evening being hosted by the Universal Insurance Plc. This event provides me an opportunity to express my gratitude, first, to God Almighty, and also to you, my professional colleagues, for your staunch support since the commencement of my tenure.

I must express my appreciation for the confidence, support and cooperation that you have given to me, of which I sincerely crave for more, so that we can raise our Council to an enviable height of our desire. Permit me to reiterate that this administration would leave no stone unturned to ensure that we actualize and deliver on our thrust of office tagged “Broker-centrism.”

Within the last few months of this administration, I have come to realize that the task of leading our Council and sustaining the finest legacies of professionalism and adherence to ethics envisaged by our founding fathers requires the cooperation of every member of this Council.

With your support, we can modestly turn perceived obstacles to stepping stones for success. This will be beneficiary to all members. I am persuaded beyond reasonable doubts that the herculean task of ensuring that ours is an enviable profession is realizable.

I congratulate Mr. Benedict Ujoatuonu and his team from Universal Insurance Plc, our August visitors hosting April edition of the Members’ Evening.

At the appropriate time, the Management team of Universal Insurance Plc would be ushered to the lectern to address this august gathering. Going by antecedents, I am quite sure that the Managing Director would apprise us with feats recorded by the company and areas where it needs our support as Brokers.

It is on that note I would like to welcome our distinguished guest, a very prominent Nollywood Actor who has carved a niche for himself as far as acting is concerned. I’m refereeing to a man who has redefined Home Movies to the delight of citizens and make the Nigerian Movie industry enviable among its counterparts, globally. Permit me to recognize the presence of Mr. Segun Arinze who is physically present here today. The presence of Mr. Arinze in our meeting is strategic, even though, he may wish to give us a taste of his acting skill. However, we are most pained whenever the news of the death of any actor or actress filters to the public, hence the rationale behind our desire to forge a collaboration with Members of Movies Industry, commencing with this engagement.

• NATIONAL ISSUES

There is no doubt in the fact that the Nigeria ecosystem is currently predominated by political activities ahead of 2023 general election. The nation is in its pre-election era, a season where each political party elects their candidates for next year general election. It is not unlikely that this year would be intense with political activities, with its adverse effect on governing and governance. Distinguished members, it is apposite to place on record that the political terrain would once again elect leaders who would determine the common destiny of our nation for another period of four years, either good or bad.

I need not belabor you with details of my insinuation, but I am persuaded beyond reasonable doubt that you understand that when we stay aloof, we leave our common destiny to be decided by others.

It is on this note I like to enjoin my colleagues and every other guests here to participate in the electoral process that determines those who will govern us in the coming dispensation.

I passionately appeal to the media to go beyond surface reporting and highlight basic qualities and otherwise of all the candidates without prejudice. In doing so, you would be aiding the process of electing the right person for the right position, and subsequently, entrenching the process of good governance in Nigeria.

Let us all shun the politics of bitterness and embrace peace for the development of our nation.

I am convinced that most nations of the world are not as blessed as Nigeria. We only got it wrong in our selection of leaders. I believe if we choose leaders with good ideology, Nigeria can once again bounce back in its economic activities.

• ASSU STRIKE

Nitin Namedo once said, “The country where education is valued not as a formality but as a pride of the country is never poor.” In other word, a nation where education is valued as formality not as pride would remain poor. To say that the poor handling of our education system Nigeria is one of the sources of our problems and poverty is to state the obvious. Personally, I am pained to note that our Students from higher institutions of learning have been shut out of school for the past eight weeks because of the strike by Members of Academic Staff Union of University (ASUU). With the level of moral decadence and quick money syndrome bedeviling our society, shutting out students at this period is a serious challenge for our nation.
The leaders must be aware that they are sitting on keg of gun-powder, a time bomb that would soon explode. It is on this note I like to enjoin the Federal Government to pay closer attention to the issue of our nation’s education system. For the sake of the future, Federal Government should dialogue with ASUU and meet their demands.

• 60TH ANNIVERSARY

On the 17th of March, 2022, the crème de la crème of the Nigerian Insurance Industry gathered at this T.A Braithwaite hall to unveil the 60th Anniversary Mascot and Logo, which marked the beginning of the 60th Anniversary celebration.

It was indeed a glorious way to kick start the celebration of our landmark achievement. It was an event that pulls out all the heads of Nigeria Insurance Industry, particularly, the Commissioner for Insurance, Mr. O.S Thomas, President, African Insurance Organisation, Mr. Tope Smart and the President, Chartered Insurance Institute of Nigeria, Dr. Muftau Shogunle. Permit me to sincerely appreciate the presence of Olola Olabode Ogunlana, ofr, FCIB at that event in spite of his advanced age as well as all our Past President who were present. Time and space would fail me, if I attempt to appreciate you one by one, kindly note that your support for the successful outing was well appreciated. Like I said at the February Edition of Members’ Evening, the Unveiling of Mascot and Logo just signal the beginning of many other activities to celebrate the 60th Anniversary. Among activities lined up for this epoch event, I am delighted to inform you that on Wednesday, June 15, 2022, we shall be embarking on Insurance Walk across the city of Lagos. Two days after, there would be a landmark Lawn Tennis tournament. May I seize this opportunity to invite our host, Universal Insurance Plc to be part of these activities. You get to know more details as time goes on.

2022 BIBA CONFERENCE

The British Insurance Brokers Association (BIBA) Conference would be held on the 11th and 12th of May, 2022 in Manchester, United Kingdom. The theme is “Our Insurance Community.”

The Council has intensified efforts in making preparations towards a delightful trip to Manchester for the Conference which promises to be very interesting. One of the side attractions for Nigerian delegates attending the Conference would be a day Seminar at Aon, London, where delegates would have opportunity to rub minds with Insurance experts in UK.

As at today, I am delighted to inform you that 38 delegates have indicated their interest, which includes five delegates from Underwriting firms.

Nigerian bound delegates would be leaving the country on the 9th of May, 2022, to return on 13th of May, 2022. I have the approval of my Management Committee to inform you that if you have valid visa to the United Kingdom, you can still be part of this trip. Just see the Executive Secretary for details. On my honour, may I extend this invitation to Management of the Universal Insurance Plc to be part of this training.

2022 CEOs’ RETREAT

I am pleased to inform you that the 2022 edition of the Chief Executive Officers’ Retreat of our Council is scheduled to hold from Wednesday June 9, 2022 to Friday June 11, 2022. It is apposite to inform you that the retreat over the years had afforded Members and other delegates to rub minds on contemporary issues on the nation’s economy with special bias for insurance being our core profession. Like every other CEOs’ Retreat, I have the approval of the Governing Board to inform you that we shall be holding this epochal event in Epe, a home away from home.

I can only assure you that this year’s retreat will come will lots of fascinating memories as activities lined up for the event are not only educative but titillating. The Events Organising Committee members are working assiduously to make the moment delightful for participants.

At the appropriate time, more information would be released for our adequate preparation. It is on that note I like to enjoin you to block your diary for those days.

ADDING VALUE TO MEMBERS

You would recall that one of the focuses of the Governing Board is to continually give values to members and enhance their compliance with regulatory requirements expected of them. I am most delighted to inform you the Council has designed lots of training opportunities for members. This would definitely enhanced participants’ skills in handling insurance and technical related issues.

CONCULSION

I wish to thank Universal Insurance Plc once again for hosting this event and by so doing reaffirming itself as one of the most insurance broker friendly underwriter in Nigeria. I appreciate all members who made it to this gathering and those that joined us virtually. May God Almighty bless your endeavours.

Do have a splendid evening.
ROTIMI EDU, mni, LLB, LLM, FCIB
PRESIDENT AND CHAIRMAN, GOVERNING BOARD

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