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Tag: NCRIB

  • Oguntade mounts the saddle in NCRIB

    Oguntade mounts the saddle in NCRIB

    The Nigerian Council of Registered Insurance Brokers witnessed another milestone on October 19, 2023, at the prestigious Marriot Hotel, Ikeja, Lagos, when the erstwhile President of NCRIB, my former senior colleague at Industrial and General Insurance and egbon (senior bros), Barr. Rotimi Edu, handed over the presidency of NCRIB to Prince Babatunde Oguntade, as the 22nd President of NCRIB, at a very impressive ceremony.

    The presidency of the NCRIB does not come on a platter. You have to pay your dues as an insurance professional and you have to render many years of service in advancing insurance broking, in particular, and the insurance industry, in general. Oguntade has paid his dues on both fronts. You also need to build your network and know your way around the NCRIB.  Oguntade started his insurance career about 40 years ago at the National Insurance Corporation of Nigeria (NICON). From NICON, he joined Country and City Insurance Brokers Limited where he rose to the level of General Manager/Chief Executive Officer. He was at this organization till 2004. After garnering significant experience and relevant professional certifications both within and outside Nigeria, Oguntade quit paid employment to establish Lectern Insurance Brokers Limited, where he remains the managing director and chief executive officer.

    Oguntade had much of his formal education in Nigeria. Over the years, he has attended courses both in Nigeria and all over the world garnering wide knowledge and experience. Oguntade is a Certified Insurance practitioner a member Chartered Insurance Institute of Nigeria, (CIIN) and a Fellow of the Nigerian Council of Registered Insurance Brokers. He is a Fellow, Institute of Management Consultants (FIMC) and Fellow, Institute of Leadership Management and Manpower Development (ILMMD). The new NCRIB president has been a Member, Lagos Chamber of Commerce and Industry (LCCI) and has been Governing Board Member of the Council for over 13 years.

    He has served in many capacities over the years in NCRIB. He was Past Chairman of Lagos Area Committee of the NCRIB, Past Chairman, Events Organizing Committee; Immediate Past Chairman, Publicity and Publication Committee; Chairman, Research and Development Committee; Chairman, Ad-Hoc Committee on Review of NCRIB Staff Handbook and Rule; Chairman, Membership Registration Committee; Member, Presidential Investiture Planning Committee, 2013 till date; Past Honorary Auditor of the Council; Chairman, Ad-Hoc Committee, Membership Subscription Review and Member, Technical Committee. He was the vice president of NCRIB from 2019 to 2021 and Deputy President from 2021 to 2023 before he emerged president on October 19, 2023.

    He is well equipped and apparently prepared for the job of leading Registered Insurance Brokers (RIB) in Nigeria to greater heights. He has already come up with his eight-point agenda. The first is financial solvency. Basically he promised that his team will be highly creative in stimulating ideas that would lead to financial solvency of the NCRIB aside from the traditional subscription of members. He also wants to continue collaborating with all relevant institutions and regulatory bodies, including the National Insurance Commission (NAICOM), in deepening of the Insurance broking sector within the Insurance industry to enable insurance brokers get a better deal in the insurance industry.

    Oguntade also promised that the council under his leadership would be deliberate in opening windows of opportunities for Brokers, regardless of their sizes with notable accounts, for the benefit of all, bearing in mind that the fortune of the Council is inextricably tied to the fortunes of all the members across board. This is music to the ears of smaller brokers. Some are already feeling being emasculated from accounts where the government agencies specifically state that only brokers with a specified minimum number of staff can apply.

    Oguntade also emphasized the need for continuous training of members. A robust training programme is already in place. He can only improve on it, but these trainings must be affordable to most members. Some small brokers that need the training most cannot afford the fees being currently charged. The NCRIB President and his team should come up with a solution.

    Mentoring is another area Oguntade promised to strengthen. There is no need to belabour it. It is crucial for the survival and growth of insurance broking. The world is now a global village so collaboration between NCRIB and notable international institutions like the British Insurance Brokers’ Association (BIBA), African Insurance Organisation (AIO), and West African Insurance Companies Association (WAICA) should continue and be improved on. Oguntade and members of his team, have been part of this collaboration, so they know exactly what to do

    As my president, I had privately given him an additional mandate: that is, ensuring that the planned installation of a lift (elevator) in the NCRIB secretariat comes to fruition within his two-year tenure as president. The project has been in the pipeline for too long. The lift has become more urgent because it is depriving some members with health and age related challenges the opportunity to be attend courses and other NCRIB activities held at the secretariat. The NCRIB building has four floors and such members cannot climb to the upper floors where most of the activities take place. The council should empathise with such members by installing a lift as soon as possible. This initial oversight during the construction of the building should not be allowed to linger any further. It is a festering sore.

    Other council members elected with Oguntade to carry out the onerous task of running the NCRIB for the next two years are our very erudite lawyer, chartered insurance broker and former colleague at IGI, Mrs. Ekeoma Ezeibe, deputy president. I call her my inlaw though the wife she promised me since 1994 has been in the pipeline. Instead of vandalizing the pipeline or waiting endlessly, I sorted out myself 25 years ago. But she remains my inlaw. Our new Vice President is Mrs. Olufunke Adenusi, a veteran insurance broker, a woman of substance and alumna of the prestigious National Institute of Policy and Strategic Studies, Kuru, Jos. Some board members were either elected or reelected. I wish Prince Oguntade and his team a very successful tenure.

    Francis Ewherido is the MD/CEO of Titan Insurance Brokers Limited.

  • Like Lazarus, God “Resurrected” me – By Francis Ewherido

    Like Lazarus, God “Resurrected” me – By Francis Ewherido

    It took me a while to decide to write this article. One thought said, these are very private matters, keep them private. Another said, you have to tell your story in the midst of the pervasive hopelessness because the story might pull someone from the brink of suicide, another might see sunshine amidst darkness, and hope might replace hopelessness for someone. My eldest brother, Bishop Anthony Ovayero Ewherido, was the first to tell me to document my experience. Then some family members and friends did, but I was still undecided. Then it struck me, people go to church to give testimonies of getting visas, why not this “resurrection.” I was also scared God can punish me for keeping this miracle to myself. I had a change of mind at this point.

    It started in Ilesha, Osun State, on June 11, 2021. I was returning from the 2021 CEO Conference of the Nigerian Council of Registered Insurance Brokers (NCRIB). As I was climbing down the hotel staircase with my bag, I felt pains on my knees, but I was not bothered because I felt it was caused by the extra weight. Shortly after the journey commenced, I started feeling feverish. At the outskirts of Ibadan, we stopped and I took pain killers. By the time we got to Lagos, my situation had gotten so bad that I abandoned the burial I was rushing down from Ilesha to attend and headed home. I saw my doctor later who prescribed drugs for me. Two day later, I was lying down at home when I felt sharp and excruciating pains on my right knee as if someone was stabbing me persistently with a knife. This was followed by seizure, then an indescribable emptiness and then all was still.

    When I regained consciousness about 30 minutes later, I was lying down in the hospital with our assistant parish priest administering anointing of the sick on me. My wife filled in the gaps. My doctor suggested that I do a brain scan. She felt the problem might be from the brain. I did the MRI scan and there it was: meningioma (brain tumour). I was shattered. I wept like a baby.
    The neurosurgeons I was referred to told me that surgery to remove the tumour was the best solution. It was a tough decision to make. I have to sign documents absolving the hospital and its staff from liability in the event of death or permanent disability. I signed, while my wife signed as witness. The surgery to remove the tumour went well, but life-threatening complications followed: there was liquid in my brain which they needed to drain out and my cranium pressure had risen to 40, which is 100 percent above the normal pressure. Three more surgeries were done in quick succession, all to save my life. I was in coma that stretched beyond what the doctors anticipated. There was real anxiety at some point among the medical personnel that I might not make it. A meeting was organised among the medical team and my wife, my immediate elder brother and immediate younger brother. My other brothers were excluded. My eldest brother, Bishop Anthony Ewherido wanted to spare them the agony. Though it was meant to give a situation report, I feel they also wanted to prepare them in the event that I did not make it.

    After six weeks and four days in coma, I moved a finger. Thereafter, I gradually regained consciousness. I still do not have the desire to watch the video taken after I regained consciousness. I have also not looked at the photos taken while I was in coma. They are heart wrenching. While I was in coma, the doctors also had to deal with lung infection. When I regained consciousness I noticed plasters around my right rib cage. I asked and my wife explained that it was from there they drained fluid from my lungs when I was in coma due to the infection.
    It was the height of COVID-19 and protecting me was a tough task. They changed my ward about four times due to the upsurge in the number of COVID-19 patients. In the course of changing wards, I was allocated a bed space by the window and I was exposed to cold. I contracted pneumonia. When the coughing and sneezing got too much, the hospital quarantined me. I remained quarantined until we were moved to another ward where I got a room to myself. These were very trying times.

    When I got out of coma, I could not talk coherently. I also partly lost my memory. I forgot my date of birth and all my passwords. I even forgot that my brother, Sen Akpor Pius Ewherido, was dead. When I did not hear from him, I asked why my usually very caring brother had not reached out to me since I became ill. My wife reminded me he was dead. It was like breaking the news to me. I wept.

    Physiotherapy had to start almost immediately. The physiotherapists told me to recite A,B,C,D… 1,2,3,4. I felt insulted and almost rebelled, but I relented. Then I started reciting and got stuck. I had forgotten some alphabets and numbers. I had to learn how to recite alphabets and numbers like a kindergarten pupil. Thank God I did because while in hospital, I was having issues with my eyes and they needed to find out if the tumour had affected my eyes. If I had not learnt how to recite the alphabets, I would have stumbled when the optometrist told me to recite the alphabets on the board.

    My legs were a different kettle of fish. They had been compromised due to inactivity while in coma. I could not stand not to talk of walk. I had to learn how to stand and walk. I started by going around in a wheelchair, then moved on to other gadgets before ending up with a walking stick. It was a tortuous journey. I fell a number a times due to my weak right knee. The news would travel round that I fell and send anxiety among hospital staff because my head and brain were not supposed to hit anywhere. The fall that amused me most was when I was urinating into the bottle. I forgot and put weight on my right leg. In a flash of a second I hit the floor and fell under the table. Instead of protecting my head, I hung on to the bottle to prevent urine from spilling on me. For about three months, my brain was open and unprotected; covered only with bandages to prevent infections.

    One evening, I was on the bed when I suffered a massive seizure that seemed to last for eternity. I was shaken to my foundation. The hospital staff were running helter-skelter. By the time calm returned, my right arm and leg were numb, worsening the issues with my right knee. By my next physiotherapy appointment, I could not hold a pen to write. My fingers were numb. Twice they told to me write a prose, twice I failed to go beyond the first paragraph. Even when they said I should write on a simple topic, my family, I did not fare any better. I had to plead with the physiotherapist that she was pushing me too hard.

    The seizure really devastated me. Initially I thought it was a stroke. At that point, I said that is it. There is no need to live anymore. My situation was already precarious; to add stroke was too much for me. They had to do another MRI scan and assured me that it was a seizure and not stroke. But the effect of the seizure persisted. Thereafter, I would hold food in my hands to eat. I would not even know it had fallen off my hand. I lost over 10kg.

    Before being discharged, they did a fifth brain surgery to cover my brain. About 17 months after the brain surgeries, my knees kept deteriorating. I was back in the hospital for knee surgery on both knees. It was inevitable because I was not functional. In all fairness, I had pre-existing conditions. The inactivity when I was in coma and the three months and two weeks stay in hospital only aggravated the condition of the knees. To the glory of God, I have achieved 99.9 per cent brain recovery. My body has also healed substantially.
    That has been my story in the last 20 months. That was why the column disappeared suddenly for over a year. As Apostle Paul wrote, I was afflicted in every way, but not crushed; perplexed, but not driven to despair; persecuted, but not forsaken; struck down, but not destroyed ( 2 Corinthians 4:8–9 ). Many have been my afflictions, but the Lord God delivered me from them all (Psalm 34:19).

    I remain very grateful to God for the outcome of this unbelievable journey. In the past I have shared some of my health challenges on this space to encourage others, but I was not keen on sharing this. I broke down three times while writing. It is quite a very long story. I am documenting the details in a book, but I have been too lazy to complete it.

  • NCRIB 60th Anniversary: Why it is difficult for most people to make right choice on insurance purchase

    NCRIB 60th Anniversary: Why it is difficult for most people to make right choice on insurance purchase

     

    Chairman Heirs Holdings, Tony Elumelu has adduced reasons why most Nigerians find it difficult to make right choice on insurance purchase.

    Elumelu disclosed this in his Chairman’s Keynote Remarks for the Nigerian Council of Registered Insurance Brokers (NCRIB) 60th Anniversary.

    The theme of the anniversary is ’60 Years of Insurance Broking: Redefining the Practice and the Practitioners’.

    He explained that: ” Through insurance, large volumes of fund are mobilised by way of premiums for investments, spurring the growth and development of the economy.

    “With insurance, families receive financial security, assets are protected against hazards, and businesses continue to run with the assurance of financial compensation in the event of a loss.

    “In a nutshell, insurance keeps families and their possessions intact, provides financial safeguards for businesses, creates employment, and generally advances the economy.

    “An economy is therefore as advanced as its insurance sector.

    “More importantly, in an economy going through inflation and a widening poverty gap, insurance is more important now than ever.

    “That is why we decided to introduce smart, simple insurance to the Nigerian market to better service this underserved market.

     

    NCRIB’s Contributions

    “As insurance is very important to the economy, so also is the quality of governance, institutions, and practitioners of the sector

    “Insurance is recognised as a technical business that requires special expertise.

    “This therefore makes it difficult for most people to make the right choice on insurance purchase. They also require professional assistance when claims occur.

    “This is why the expertise of an insurance broker is crucial.

    “The insurance broker is an intermediary between the insurance consumer and an insurance company.

    “The insurance broker is a professional. He represents the interests of insurance consumers and provides them with expert advice, guidance, and support on insurance matters.

    “The Nigerian Council of Registered Insurance Brokers (NRIB) serves as a central organisation for the regulation of all practicing insurance brokers in Nigeria.

    “Members of NCRIB have, over the years, facilitated insurance businesses in hundreds of billions of naira, delighted millions of Nigerians with their professional insurance services, and ensured that claims are duly settled.

    Redefining the Practice and the Practitioners:

    “Notwithstanding the great achievements so far recorded, NCRIB still has a lot to offer to its members and the Nigerian insurance industry as a whole.

    “There is always room for improvement
    We must strive to achieve the highest levels of professionalism and dedication to delivering excellent service to the public who rely on us to provide them with comfort

    In the area of Governance :

    “We as an industry need to enforce strict adherence to corporate governance by all NCRIB members.

    “The need for the body to weed out non-registered and non-compliant members from its fold.

    “These are the ones tarnishing the image of the broking profession and the industry at large.

    “An insurance broker must be professional at all times.

    “In redefining the practice and practitioners in the broking profession, NCRIB should lead the war against many of the unethical practices that have been the bane of the industry for years.

    “These include premium rate cutting, delayed premium remittance, unremitted premium, overloading of premium, returned premium, fake documents, fraudulent claims, collusion to defraud, mis-selling, unhealthy competition, misrepresentations, manipulation of policy conditions, self-enrichment methods disguised as marketing expenses, and many more.

    “While NAICOM continues to play its role as the industry regulator, NCRIB as a body must ensure that appropriate sanctions are imposed on any of its members found using unethical practices

    We must push for more Industry Collaboration:

    “The NCRIB and other insurance industry bodies should collaborate more to deepen insurance penetration in Nigeria.

    “Where there are differences on issues, such must be resolved as friends and colleagues to protect and preserve the image of the industry.

    “The body should also play a key role in government advocacy for pro-insurance laws and policies.

    Mr. Rotimi Akeredolu, SAN, Executive Governor of Ondo State was chairman of the occasion , while Mr, Babajide Sanwo-Olu, Executive Governor of Lagos State was the guest of honor and other critical stakeholders were in attendance.

    Read full address below:

     

    REMARKS

    Good morning All,

    Our Chief Host, Mr. Babajide Sanwo-Olu, Executive Governor of Lagos State

    The Chairman of the Occasion, Mr. Rotimi Akeredolu SAN, Executive Governor of Ondo State

    The Commissioner for Insurance, Mr. Sunday Thomas
    The President & Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers, Mr. Rotimi Edu
    Insurance practitioners present here today
    And all distinguished guests present here

    Members of the media

    Let me start by congratulating the Nigerian Council of Registered Insurance Brokers on its 60th Anniversary

    And for organising this most befitting event to mark the milestone

    I stand before you today as the Chairman of Heirs Holdings, my family-owned investment management company with investments in the strategic sectors of the African economy, including financial services, hospitality, power, energy, technology, and healthcare.

    You may know me more for my banking career as the Chairman of the United Bank for Africa (UBA) Africa’s global bank present in 20 African countries including France, USA, UK, and the UAE

    And the catalytic work we do at the Tony Elumelu Foundation in empowering young Africans across the 54 countries on the continent

    So far, over 15,000 young African entrepreneurs have benefitted directly from the Foundation through the provision of a $5,000 non-refundable seed capital, alongside business training, mentorship, and market access to these young African entrepreneurs.

    At the Heirs Holdings Group we are committed to improving lives and transforming the continent

    This is why last year we entered the insurance sector with the introduction of Heirs Life Assurance and Heirs Insurance Limited

    Insurance companies committed to providing simpler and smarter insurance to the market

    These 2 companies complement Heirs Insurance Brokers (HIB), our insurance brokerage business and these 3 companies allow us to exploit synergies and efficiently service the Nigerian insurance market

    Why have we focused on the Insurance sector?

    The importance of insurance

    We all understand the pivotal role Insurance plays in any society.

    It provides the much-needed safety and security.

    Through insurance, large volumes of fund are mobilised by way of premiums for investments, spurring the growth and development of the economy.

    With insurance, families receive financial security, assets are protected against hazards, and businesses continue to run with the assurance of financial compensation in the event of a loss.

    In a nutshell, insurance keeps families and their possessions intact, provides financial safeguards for businesses, creates employment, and generally advances the economy.

    An economy is therefore as advanced as its insurance sector.

    More importantly, in an economy going through inflation and a widening poverty gap, insurance is more important now than ever.

    That is why we decided to introduce smart, simple insurance to the Nigerian market to better service this underserved market

     

    NCRIB’s Contributions

    As insurance is very important to the economy, so also is the quality of governance, institutions, and practitioners of the sector

    Insurance is recognised as a technical business that requires special expertise.

    This therefore makes it difficult for most people to make the right choice on insurance purchase. They also require professional assistance when claims occur.

    This is why the expertise of an insurance broker is crucial.

    The insurance broker is an intermediary between the insurance consumer and an insurance company.

    The insurance broker is a professional. He represents the interests of insurance consumers and provides them with expert advice, guidance, and support on insurance matters.

    The Nigerian Council of Registered Insurance Brokers (NRIB) serves as a central organisation for the regulation of all practicing insurance brokers in Nigeria.

    Members of NCRIB have, over the years, facilitated insurance businesses in hundreds of billions of naira, delighted millions of Nigerians with their professional insurance services, and ensured that claims are duly settled.

    Redefining the Practice and the Practitioners

    Notwithstanding the great achievements so far recorded, NCRIB still has a lot to offer to its members and the Nigerian insurance industry as a whole.

    There is always room for improvement
    We must strive to achieve the highest levels of professionalism and dedication to delivering excellent service to the public who rely on us to provide them with comfort

    In the area of Governance

    We as an industry need to enforce strict adherence to corporate governance by all NCRIB members.

    The need for the body to weed out non-registered and non-compliant members from its fold.

    These are the ones tarnishing the image of the broking profession and the industry at large.

    An insurance broker must be professional at all times.

    In redefining the practice and practitioners in the broking profession, NCRIB should lead the war against many of the unethical practices that have been the bane of the industry for years.

    These include premium rate cutting, delayed premium remittance, unremitted premium, overloading of premium, returned premium, fake documents, fraudulent claims, collusion to defraud, mis-selling, unhealthy competition, misrepresentations, manipulation of policy conditions, self-enrichment methods disguised as marketing expenses, and many more.

    While NAICOM continues to play its role as the industry regulator, NCRIB as a body must ensure that appropriate sanctions are imposed on any of its members found using unethical practices

    We must push for more Industry Collaboration

    The NCRIB and other insurance industry bodies should collaborate more to deepen insurance penetration in Nigeria.

    Where there are differences on issues, such must be resolved as friends and colleagues to protect and preserve the image of the industry.

    The body should also play a key role in government advocacy for pro-insurance laws and policies.

    Innovation

    The insurance industry can benefit from innovation across all phases of the service. For this to happen, there is the need to reward and incentivise innovation across the industry.

    The industry must also benchmark against global trends.

    Perhaps the starting point for innovation in the broking arm of the industry is retail insurance development.

    Over the years, brokers in the market have been recognised as corporate insurance specialists.

    It is high time the brokers community began to shift focus to retail because this is where the future of insurance lies in Nigeria. Brokers have the capacity to lead in this area.

    Ladies and gentlemen, innovation and disruptive practices cannot occur if we do not broaden our thinking

    Trying to make profits from existing lines is not going to deepen insurance penetration, rather we must look at the blue ocean opportunities

    This is something I task the management of the insurance companies to constantly think of in product development and deployment

    We must create Awareness

    There is a need to generate more awareness and showcase the value of insurance to the public, promoting participation, most especially in the retail space.

    We must bridge the insurance knowledge gap if we are to make insurance attractive to Nigerians

    Insurance brokers need to participate fully in this drive as they stand to benefit from the initiative like other players in the market.

    In the area of Technology

    To remain relevant in the modern business arena, the insurance broker community and, by extension, the entire Nigerian insurance industry, must embrace technology fully.

    The body also needs to work towards positioning its members properly for digital integration, mediating between the insuring public and the underwriters digitally.

    Embrace technology and digital adoption, current analogue processes need to be eliminated to improve service delivery to our customers

    The brokers industry cannot advance when the other financial services are transitioning to online real time and we are still stuck with a system that relies on hard copy files and documents

    The brokerage sector needs to drive clean data for the industry. This is not a one person job

    Recapitalisation of the brokerage sector
    We need to recapitalise the brokerage industry in our country, N5 million is not enough capital base for an industry. A recommend a minimum of N50 million as a capital base

    We need to adequately capitalise the brokerage sector

    The Next Generation

    There is also the urgency to develop the next generation of talent to serve the Nigerian insurance industry.

    The broker community should rally and become the hub for the education and training of our youths to get qualified talent for the next phase of the industry.

    In those days when I was in university, what drove me to want to join banking? it was the profile of bankers, sharp suits, nice cars

    It’s funny now that I think about it, but little things on how the people that worked in banking looked made me aspire to the banking profession

    We need to raise the profile of our insurance professionals, make it attractive for the younger generation

    Forging Alliances
    Apart from collaborating with other industry players as I mentioned earlier, redefining the brokerage profession will entail collaboration with non-industry practitioners as well.
    Insurance remains a viable tool for financial inclusion in every country and Nigeria cannot be an exception.
    Our two insurance companies, Heirs Life Assurance and Heirs Insurance Limited, are both committed to democratizing access to insurance – which is a great tool for financial inclusion, employment creation, and poverty eradication.
    NCRIB as a body has the ability to partner with others to support financial inclusion drive in Nigeria.
    Government cannot do it all alone.

    At Heirs Holdings, we believe and practice Africapitalism – my economic philosophy that advocates for the private and public sectors to collaborate to achieve the unified goal of alleviating poverty and facilitating shared prosperity.
    We also believe in the democratisation of luck and the creation of economic opportunities. One of the ways we have been able to demonstrate this is through the work of The Tony Elumelu Foundation.

    Conclusion

    Let me conclude by thanking the organisers of the event for inviting me to address you all

    I know that together we can deepen the insurance sector in the country and provide innovative solutions and products that demonstrate the value of insurance to the Nigerian people

    Thank you.

    Tony O. Elumelu CON

    Chairman, Heirs Holdings
    &
    Founder, Tony Elumelu Foundation

  • Nigerian brokers to get discount for BIBA’s London Conference – NCRIB

    Nigerian brokers to get discount for BIBA’s London Conference – NCRIB

    Nigerian Council of Registered Insurance Brokers (NCRIB ) on Friday said that its members would get a discount to attend subsequent British Insurance Brokers Association (BIBA) conference in London.

    Mr Rotimi Edu, President, NCRIB, disclosed this while highlighting his achievements in less than 100 days in office on the sidelines of a `Breakfast Series with the President.’

    Edu, who did not state the date of the conference, said that this was part of the agreements reached with BIBA during a visit of the leadership and some members of the council to the association in London.

    He said the visit was geared toward fostering strategic governmental and non-governmental relationships, both within and outside Nigeria.

    “We discussed further collaborations with the institution, especially in the area of training opportunities that are available for our members to participate in.

    “The visit was very productive, as BIBA not only promised to open its doors to collaborative trainings for registered insurance brokers in Nigeria, but also to grant further discounts to members attending subsequent BIBA conferences.”

    Edu noted that BIBA also consented to grant a slot to NCRIB’s leadership, to speak at its next conference.

    He described such gesture as a rare honour to the council, considering the group of top professionals and government dignitaries that would attend the event globally.

    “This would not only open us up to the world but give in-depth insights to insurance brokers in the Diaspora about our operations and aspirations for sustainable growth.”

    Edu stated that the council was in consistent talks and brokering deeper relationship with members of the House Committee on Insurance and Actuarial Matters, as regards the Consolidated Insurance Bill before the National Assembly.

    According to him, the discussion is to ensure that the bill which would later be passed as law, embodies all the council’s inputs and creates a conducive business environment for insurance brokers to practice and thrive in Nigeria.

    Earlier in his lecture, Edu urged brokers to adopt Spiritual Intelligence (SI) in a bid to drive patronage and increase profit.

    He said that while spiritual intelligence may not have attained much currency like Emotional Intelligence (EQ), Intelligent Quotient (IQ), Social Intelligence (SQ) among others, it is one of the most desirable of them all.

    The broker also advised managers of broking firms to equip themselves with leadership skills and good initiatives that would help their organisations to grow.

    “As a leader, be a reader of not just books but people and situations.

    “Be charismatic, be ready to serve, be firm and not rigid, desist from unethical actions and don’t compromise your integrity,” he said.