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Chuks Udo Okonta
The Nigerian Council of Registered Insurance Brokers (NCRIB) has equipped directors with required knowledge that would enable them enhance the governance and operational efficiency of insurance broking firms.
The President of NCRIB Babatunde Oguntade at the Insurance Brokers Directors’ Conference held Tuesday, August 13, 2024 in Lagos and themed: ‘Running an Effective Board’ said it is crucial to note that the gathering represents a crucial milestone in the journey towards enhancing the governance and operational efficiency of Insurance Broking firms in Nigeria and also within the broader global Insurance Industry.
He submitted that in today’s rapidly evolving business landscape, the efficiency of a board is more than just an assemblage of wise or erudite men; rather it is the bedrock of corporate success, professional integrity and sustainability.
According to him, an effective board provides the strategic direction that steers an organisation toward sustainable growth and long-term stability, thereby ensuring that decisions benefit all stakeholders while balancing risks and opportunities with prudence and insight.
“In realisation of this, the NCRIB, has continually desired to empower board members of its member companies to be able to play their critical roles most effectively; and it is heartwarming that this conference is the second edition,” he posited.
He submitted that to fully maximize the value of the training, the council has meticulously engaged astute and highly experienced professionals to deliver impactful and strategic sessions that will address contemporary issues affecting board operations for sustainability of the companies.
Oguntade noted that his administration would continue to provide necessary leadership that sustain and project the broking profession to lofty heights.
Former President of NCRIB, Director, Scib Nigeria & Co. Limited Shola Tinubu, at the event spoke on the topic “Survival & Peculiarities of Insurance Broking Operations”, which delved into the nuances of broking operations, offering strategies to overcome obstacles and provided insights on harnessing distinct market advantages.
The Deputy President NCRIB Mrs. Ekeoma Ezeibe, spoke on the topic ‘Ethics and Corporate Governance’ which emphasized on essence of transparency and accountability and ensuring that board members must ensure a strong ethical framework is in place to maintain the confidence of clients, regulators and the public.
Dele Alimi (IOD), Director-General/CEO Institute of Directors, in his session entitled “Responsibilities of Directors” provided invaluable insights into the legal and fiduciary duties that directors must uphold in other to safeguard the interest of both the company and its clients.
Deputy Commissioner, Technical NAICOM Dr. Usman Jankara, was saddled with the responsibility to guide and ensure that entities operate within the framework of established laws and best practices.
Dr. Jankara also spoke on “Returns and Compliance Issues”, giving insights that are crucial to ensuring continuity and success of firms and also, aided on matters related to practices that may be inimical to the law.
Chairman of NEM Insurance Plc Tope Smart, an erudite speaker, visionary, and boardroom veteran, shared insights on how he has weathered the storms of leadership and celebrated the successes both as MD/CEO of many years and now Chairman of one of the most progressive blue chip companies in Nigeria.
