BY NGOZI ONYEAKUSI

The National Insurance Commission (NAICOM) has charged the new leadership of Nigeria Council of Registered Insurance Brokers (NCRIB) to actively partner with the Commission in implementing the provisions of NIIRA 2025.

The Commissioner for Insurance, Mr Olusegun Ayo Omosehin gave the charge at the investiture ceremony of the 23rd President of the Council, Mrs Ekeoma Ezeibe in Lagos.

He noted that NAICOM remained open to dialogue and committed to harmonizing the roles of all industry players

Read His Full Text of Address

Protocol

I am honoured to celebrate Mrs. Ekeoma Esther Ezeibe on her investiture as the 23rd President of the NCRIB. Today, we celebrate not only a new chapter in the leadership of this esteemed Council but also the remarkable journey of a woman whose life and career embodies excellence, resilience, and visionary leadership.
Appreciation to the Outgoing President
I extend heartfelt appreciation to the outgoing President, Prince Babatunde Oguntade, for his courageous and visionary leadership. His tenure exemplified the blend of integrity, patience, and foresight required to guide our industry. His dedication to advancing our profession and upholding its highest standards has been truly commendable.
Salute to the Broking Community
To every broker who continues to uphold the core values of professionalism, integrity, and client-centric service— I thank you. Your unwavering commitment is the foundation of our industry’s success.
A Word About the New President
Mrs. Ezeibe’s emergence as the third female President in the 63-year history of the Council is a powerful symbol of progress and inclusion. Her journey is one of quiet strength and strategic impact both at NCRIB and the insurance industry.
Of note is her strategic leadership as Chairperson of the Nigerian Insurance Industry Committee on AfCFTA (NII-AfCFTA). Under her guidance, the Committee has championed industry enlightenment, capacity building, and policy advocacy to ensure Nigerian insurance industry is well-positioned to harness the opportunities of the African Continental Free Trade Area.
Leadership Imperatives for the Future
As we celebrate this investiture, let us reflect on the leadership imperatives that will shape our future:
• Education: Empowering professionals and stakeholders through enhanced knowledge and awareness.
• Ethics: Upholding integrity, transparency, and professionalism in all our engagements.
• Public Confidence: Building trust through consistent performance, clear communication, and fair practices.
In insurance, perception and performance are inseparable. Trust grows when our actions meet stakeholder expectations. Under Mrs. Ezeibe’s leadership, I am confident the NCRIB will champion these imperatives and drive our industry toward greater excellence.
The Broker’s Role in a Changing Risk Landscape
In today’s dynamic environment, brokers must evolve to meet emerging risks. This includes:
• Providing client-first risk advisory, not product-driven solutions.
• Ensuring transparent placement with clear wordings and quality coverage.
• Leading claims processes with data-driven, empathetic approaches.
• Expanding inclusion through affordable microinsurance for underserved sectors.
• Leveraging digital tools to reduce costs while maintaining ethical standards.
I urge the Council to professionalize these capabilities through training, peer review, and accountability. The reputation of our market is inseparable from the reputation of its brokers.

NAICOM’s Regulatory Expectations
At the National Insurance Commission, our priorities are clear. We aim to foster innovation, protect policyholders, and build public confidence. For brokers, our regulatory focus includes:
• Risk-Based Supervision: Aligning governance and financial requirements with business scale.
• Market Conduct Oversight: Ensuring transparency, suitability, and fairness—especially during claims.
• Data and Reporting Enhancement: Making placement quality and client outcomes measurable.
• Technology Enablement: Facilitating digital KYC, API-enabled placement, and efficient claims portals.
• Inclusive Insurance Models: Partnering with NCRIB to develop broker-led microinsurance and takaful solutions.
NAICOM’s stance is simple: deliver only what you can support, and support everything you deliver. Clear promises and prompt service build trust—and trust drives penetration.
We invite the NCRIB, under Mrs. Ezeibe’s leadership, to actively partner with the Commission in implementing the provisions of NIIRA 2025. NAICOM remains open to dialogue and committed to harmonizing the roles of all industry players.

Closing
Charge to the New President
Mrs. Ezeibe, as you assume this esteemed role, I charge you to lead with:
• Professionalism that sets new benchmarks.
• Inclusion that brings every Nigerian into the safety net.
• Innovation that transforms how we serve.
• Trust that anchors our market’s reputation.
Let your tenure be defined by bold decisions, ethical leadership, and transformative impact. The future of our industry depends on visionary leaders like you.
Together, let us build an insurance market that serves Nigerians better and strengthens our economy.
Congratulations once again, Madam President.
May God bless the Federal Republic of Nigeria
Thank you all.