NCRIB to Pursue Professionalism of Insurance Broking

The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Ayodapo Shoderu, has said the council under his leadership would work hard at professionalising insurance broking in the country.
According to him, the council would strengthen the understanding and mentality of its members about the practice going forward and ensure that only men and women with realistic intentions practice insurance broking.
“As part of our efforts to develop the sector, we would also be pulling together talents and formidable credentials needed by organisations to go places,” he added.
Speaking in Lagos recently, the NCRIB president said this new direction would go a long way to ensure that only people with dignity and unshaken integrity hold themselves out as insurance brokers.
Shoderu said the council would create an effective data bureau to hold comprehensive and relevant data about insurance brokers and the practice. The NCRIB boss noted that as things stand, it is easier to assess the growth and development of Nigerian insurance industry using researches conducted and data kept by foreign institutions.
To reverse this trend, he said a Research and Development Committee of the council would be established to facilitate the vision of generating accurate data for the sector locally.
According to him, the council would establish an Accounting Technical Committee made up of existing and co-opted Accounting and Finance professionals to handle issues relating to financial reporting requirements in view of expectations from insurance brokers in furtherance with the implementation of the International Financial Reporting Standards (IFRS).
The committee, he said, would provide a platform for cross fertilisation of ideas on finance, audit and reporting challenges of members through proactive rather than reactive approach.
“I will use my office as a veritable platform to provide professional and qualitative leadership which will take NCRIB to greater heights,” Shoderu promised.

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