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Chuks Udo Okonta
The Nigerian Council of Registered Insurance Brokers Lagos Area Committee (NCRIB-LAC) in partnership with Institute of Chartered Accountants of Nigeria (ICAN) have organised a workshop to educate insurance brokers and underwriters on sustainability reporting.
The training tagged: ‘National Workshop on Sustainability Reporting for the Insurance Brokers: Issues; Challenges and the Way Forward’, which started today will end tomorrow in Lagos.
The physical and virtual event, had participants from Lagos, Abuja and underwriters from Rex insurance Limited.
The President Nigerian Council of Registered Insurance Brokers (NCRIB) Babatunde Oguntade, who was the Special Guest at the event, applauded NCRIB-LAC and ICAN for organising the event to empower brokers.
Oguntade, who was represented by the Executive Secretary of NCRIB Tope Adaramola, noted that the training is highly necessary, especially now that companies are faced with enormous challenges confronting their sustainability in business.
He implored the attendees to maximize the opportunity and ensure they put to use all that they would acquire at the training.
Public Relations Officer, NCRIB-LAC Dr. Dapo Owoeye(1st right) and other dignitaries at the event.
He noted that the NCRIB is opened and would continue to support relevant ideas that could spur the broking business to lofty heights.
The Chairman NCRIB-LAC Ademola Olutusin, expressed delight over the attendance at the event, adding that as first of-its-kind, when the Area Committee had to partner a reputable organisation like ICAN to educate members, the partnership would be sustained.
He appreciated ICAN for coming up with the partnership, stressing that NCRIB-LAC would continue to leverage partnership with relevant organisations to help upskill members with latest trends.
He also thanked broking companies that embraced the concept and send their employees to the training.
He implored the attendees to ensure they maximise the two-day programme to acquire new things that would help boost their operations.
The Registrar ICAN Dr.Lanre Olasukanmi, while speaking on Sustainability Reporting – the Concept; Evolution and Overview of the ISSB Sustainability Disclosure Standard (IFRS S1 and S2) said companies need to comply with sustainability goals to enable them compete favourably in the global space.
He submitted that embracing sustainability goals helps companies streamline reporting process; improve access to capital and enhance decision making.
He urged companies to adopt best practices; capacity building; technology integration; collaboration amongst others.
The Coordinating Director Financial Reporting Council of Nigeria (FRCN) Dr. Iheanyi Anyahara, speaking on ‘The Nigerian Roadmap to Adoption of IFRS Sustainability Disclosure Standards – Deep Dive into Reporting Timelines, Transitional Reliefs, Location of Disclosure and Assurance Requirements’ said organisations that seek to remain afloat must comply with sustainability goals, adding that FRCN has been working assiduously to ensure organisations comply with standards set by the country.
He submitted that sustainability thrives on data, hence, organisations should digitalised their operations and continue to invest in knowledge building so that they can compete favourably.
