The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Babatunde Oguntade, has urged newly inducted members to embrace professionalism, integrity, and continuous development in their careers.
Speaking at the induction ceremony held in Lagos on June 9, 2025, Oguntade welcomed 66 individual brokers and 18 corporate entities into the fold of the Council. He described the occasion as not only a personal achievement for the inductees but a moment of national significance, given the crucial role of insurance brokers in supporting Nigeria’s economic resilience and risk management framework.
“As insurance brokers, you serve as trusted intermediaries between clients and insurers. Your work is not just transactional—it is transformative. You have the power to shape the narrative of confidence and stability in our financial systems,” Oguntade said.
He encouraged the new members to commit to NCRIB’s core values, highlighting professionalism, ethical standards, accountability, and client-first service delivery as pillars of success in the broking profession.
The NCRIB President further emphasized that active participation in council activities, especially those that award Mandatory Continuous Professional Development (MCPD) points, is critical for individual growth and the collective strength of the Council.
“Being a member of NCRIB is not just a badge of honour; it is a call to action. We expect you to grow, contribute, and carry forward the legacy of excellence,” he added.
Oguntade also urged the inductees to expand their horizons by participating in global insurance platforms such as the African Insurance Organisation (AIO) and the British Insurance Brokers’ Association (BIBA), describing international exposure as a valuable resource for professional competitiveness.
In his address, Oguntade reiterated the importance of trust in the industry, stating that with growing awareness of insurance in Nigeria, brokers must be at the forefront of transparency and efficient service delivery.
“Clients depend on brokers to guide them, especially in periods of uncertainty. You must uphold the trust placed in you through timely advice, professional guidance, and clear communication,” he noted.
The induction comes at a time when the Nigerian insurance industry is actively pushing for increased penetration and inclusivity, with emphasis on public trust, technology-driven solutions, and a broader reach into underserved communities.
Beyond professional responsibilities, Oguntade appealed for consistent moral and financial support from members, stressing that the sustainability of the Council’s mission rests on the collective commitment of its members. He described the inductees as torchbearers responsible for elevating the stature and credibility of insurance broking in Nigeria.
“Your journey does not end with this induction. It starts now—with a responsibility to uphold standards, raise the bar, and contribute to policy discussions and sector reforms,” he said.
The event witnessed attendance from industry leaders, council executives, mentors, and past presidents who welcomed the new members and shared insights on adapting to the evolving landscape of risk, regulation, and customer engagement.
The NCRIB has continued to strengthen its role as the statutory body regulating the practice of registered insurance brokers in Nigeria, promoting professionalism and industry cohesion.
As the country navigates economic uncertainties and evolving risk dynamics, the role of qualified, ethical insurance brokers is more critical than ever. The new inductees are expected to bring innovation, energy, and renewed trust to the sector—qualities essential for transforming Nigeria’s insurance landscape.