BY NGOZI ONYEAKUSI

L-R: Executive Secretary/CEO, The Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tope Adaramola; Deputy President, Mrs. Ekeoma Ezeibe; President, Prince Babatunde Oguntade; Vice President, Mrs. Olufunke Adenusi and Mazi Chijioke Nwafor at a Media Parley with the Outgoing President Prince Oguntade held at the NCRIB Secretariat, Lagos

The outgoing President of the Governing Council of the Nigeria Council Registered Insurance Brokers (NCRIB)  Mr Babatunde Oguntade today listed some of his major achievements recorded within the two years he served as the president of the Council.

Oguntade highlighted these achievements while briefing the media in Lagos.

Read His Full Text of Speech

• Ladies and Gentlemen
I am honored to stand before you today to share some of the remarkable achievements we’ve made over the last two years. As the President, I have had the privilege of leading this esteemed Council, and I am proud to report that we have made significant strides.I must not forget to use this medium to profoundly appreciate you gentlemen of the media for your support through your effective reportage throughout this tenure. God bless you all.
Strengthening Relationship with Industry Regulator
For this past two years, we have worked closely with regulatory bodies, especially, NAICOM, to enhance industry standards, ensuring compliance and professionalism. This collaboration has led to improved oversight, better risk management, and increased confidence in our industry. I must give kudos to the current leadership of the Commission for the new inclusive and collaborative style of leadership.

NIIRA 2025
I believe that the most important thing in the Nigerian Insurance Industry as of today is the Nigerian Insurance Industry Reforms Acts signed by the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR. I have had opportunity of engaging people at different forum on this particular subject matter. I must confess that this is the best thing that had happened to the industry in the recent times. We worked assiduously with other sisters bodies to ensure that we got this. I am super excited about the roles played by my predecessors and more excited that the law came on stream during our tenure. I must give special thanks to my Deputy President, Mrs Ekeoma Ezeibe particularly for her role and input into the new law. It is my hope that the industry would unite again to see to it that the salient potentials that the law is throwing up are annexed fully.
Capacity Building
We invested heavily in training programs and workshops to enhance the skills and knowledge of our members. This has enabled them to stay up-to-date with industry trends, best practices, and regulatory requirements. I give special appreciation to the Training Committee of the Council, for making this happen. The NCRIB members cannot afford to be ill trained as the professional arm of the industry who must be on top of their professional game all the time.
Membership Engagement
We’ve strengthened our membership engagement, providing support, resources, and services that meet our Members needs. Happily, today, the NCRIB has become the nest for so many astute insurance professionals who had once been on the divide of Underwriting arm. They are here adding significant value to the importance of Brokers in the insurance value chain. This is made possible because of the enanbling environment we’ve created for them to come and join us as members.
Visibility Project
We have seen significant growth in our crave for public space. It is not a gainsay to describe NCRIB as a leading light in the Nigerian Insurance Industry as far as publicity is concerned. We have seen the need to be proactive on some occasions when situation warranted for the good and acceptable brand of our Council. Our target is to see increased insurance penetration, and expanded product offerings.
Partnerships
We forged strategic partnerships with key stakeholders, including regulators, industry associations, and international organizations. These partnerships opened up new opportunities for collaboration, knowledge-sharing, and business development. I want to stress that this regime broke several new grounds with constituent bodies where insurance had never been mentioned, particularly in the entertainment and housing environment. It is my hope that the tempo would be sustained by the incoming leadership who are also part of this team.
Internationally, it is quite note worthy that for the first time, the Chief Executive of the World renowned Insurance Brokers Body, BIBA, Mr. Graeme Trudgill visited Nigeria in the month of July. The reception we gave him has positioned the NCRIB and the entire industry in positive light before the whole world.

 

Olola Olabode Ogunlana NCRIB Annex Building

I’m excited to announce that the new building project, christened Olola Olabode Ogunlana NCRIB Annex Building is over 70 per cent completed. This state-of-the-art facility will provide a modern and efficient workspace, majorly for commercial purpose. This investment in our infrastructure demonstrates our commitment to building a stronger, more resilient industry. Great kudos should go to my predecessor in office who bought the land while I am optimistic that my successor would give the building the desired elegant finishing.
Lifetime Achievement Award
We’re also proud to have our own Doyen of Nigerian Insurance Industry, Olola Olabode Ogunlana, FCIB been awarded Lifetime Achievement Awards at the 2025 Conference of British Insurance Brokers Association, to recognize the contributions of one of our eldest and most experienced insurance practitioners in Nigeria. I am delighted that this was done under this administration

Sustenance of Membership Seal Usage
We continued the usage of the membership seal introduced by my immediate predecessor in office, which has added a touch of professionalism and dignity to all correspondences from our members. This seal has become a symbol of our industry’s commitment to excellence and professionalism, and we’re proud to sustain its usage.
Appreciation
Once again, I must say that your dedication to disseminating industry news, trends, and developments has been instrumental in promoting the Council’s activities and initiatives. Your coverage has helped to amplify our message, increase visibility, and foster a better understanding of the insurance industry among stakeholders.

I am grateful for your professionalism, integrity, and commitment to fair and balanced reporting. Your contributions have significantly enhanced the growth and development of the industry, and we are truly appreciative of your support.
Thank you for your partnership, and we look forward to continuing and better collaboration with my successors in office, for a greater Council and insurance industry that we would all be proud of. God bless you all.

Prince Babatunde Adeleke Oguntade, FIIN, FCIB
President and Chairman Governing Board