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Chuks Udo Okonta
The Nigerian Council of Registered Insurance Brokers Lagos Area Committee (NCRIB-LAC) at its May 2025 annual general meeting held today in Lagos, had an enlightenment session for brokers to educate them on what they are to expect from the anticipated Nigerian Insurance Industry Reform Act.
The event with the themed: ‘The Nigerian Insurance Industry Reform Bill 2024: The Implications for Insurance Brokers’ was facilitated by the Deputy President Nigerian Council of Registered Insurance Brokers’ Mrs. Ekeoma Ezeibe, who took the participants through the various sections of the bill and provided answers to questions asked by the brokers.
The Chairman of NCRIB-LAC Oluremi Oduwole, said the theme could not have come at a better time than now, when the entire industry is quite expectant of the final outcome of the law, when it is assented to by President Bola Ahmed Tinubu.
He said the law is expected to enrich the broking practice, broaden the scope of its operations but on the other hand come with challenges which brokers must all be aware and prepare for.
“In order to make this event more resounding and resourceful, I am happy to disclose that we are having in our midst that Head of Department of Insurance at the Lagos State University, and some selected students of the department of insurance here. The purpose is for them to come and learn, engage as well as have first hand information about the practical operations of insurance broking as a way of bridging the town and gown strategy of learning,” he said
He also noted that the recently launched Insurance Clubs in all public secondary schools in Lagos State offering Insurance, is informed by the fact that brokers impact must continually be felt in strata of the educational institutions in the State and in the principle of catch them young for the sustenance of the broking profession and the industry.
