*Eyes opportunities in multi billion naira entertainment industry
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Chuks Udo Okonta
The President Nigerian Council of Registered Insurance Brokers (NCRIB) Prince Babatunde Adeleke Oguntade, has sent best wishes to all Muslims especially members of the broking fraternity.
The message reads: To all our revered Past Presidents, Distinguished Governing Board Members and ever supporting professional Colleagues who are Muslim, I rejoice with you on this special day.
As we celebrate the end of Ramadan, may your life be filled with peace, prosperity, and endless blessings. Eid Mubarak to you and your family! On this auspicious occasion, may Allah’s divine light show your path and lead you to success and happiness.
May I enjoin you to hold tenaciously to the tenets and lessons of the Holy Month. Let’s continue to pray for our leaders and our nation.
May the blessings of Allah be upon us.
Meanwhile, NCRIB has sought the platform of the Nigerian Film and Video Censors Board (NFVCB) to promote insurance awareness and acceptance by Nigeria’s entertainment industry.
Oguntade, said the Board constituted a veritable link between the insurance industry and the entertainment world which must be explored for the benefits of the two industries.
Speaking during a courtesy visit on the Management of the NFVCB in Abuja, the NCRIB President opined that motion pictures and music recordings accounted for N154 billion of the 2023 Gross Domestic Product of the country and opined that this should be an attraction to the insurance industry, especially Insurance Brokers.
Oguntade noted that actors in the entertainment industry were prone to several risk exposures, among them; property damage, physical damage, copyright infringements, exposure to piracy and health hazards which called for engagement of insurance as a safety valve against these various risks.
He lamented that the little knowledge and acceptance of insurance by entertainers could hugely be attributed to the misery suffered by several actors in the course of being indisposed due to critical illnesses or death.
Oguntade noted that entertainers are men and women of talents who must be conscious of the fleeting nature of their gifts, necessitating the need for them to prepare for their old age or periods of inactivity, for which he said the insurance brokers could assist to manage.
Responding, the Executive Director of the Board, Dr Shaibu Oseni, expressed the preparedness of the Board to partner with the NCRIB, particularly through the various stakeholders conferences being planned by the Board in different zones of the country throughout the year.
Oseni stated that insurance remained the main risk mitigation device against unforeseen challenges that operators in the entertainment world faced which must be taken seriously.
