Brokers’ Strategic Partnership With Stakeholders Deepens Penetration — Oguntade

The outgoing president of the Nigerian Council of Registered Insurance Brokers(NCRIB), Prince Babatunde Oguntade, said strategic partnerships forged by the brokerage fraternity with key stakeholders, including regulators, industry associations, and international organisations, have further deepened insurance penetration, awareness, and acceptance in the country.

These partnerships, he added, opened up new opportunities for collaboration, knowledge-sharing, and business development. He stressed that his regime broke several new grounds with constituent bodies where insurance had never been mentioned, particularly in the entertainment and housing environment, believing his successor would sustain the tempo.

Reeling out his achievements as the president of NCRIB in the last two years, he added that, “internationally, it is quite noteworthy that, for the first time, the Chief Executive of the World-renowned Insurance Brokers Body, BIBA, Mr Graeme Trudgill, visited Nigeria in July. The reception we gave him has positioned the NCRIB and the entire industry in a positive light before the whole world.”

Excited that the new building project, christened Olola Olabode Ogunlana NCRIB Annexe Building, is over 70 per cent completed, he said this state-of-the-art facility will provide a modern and efficient workspace, mainly for commercial purposes. He noted that “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.”

According to him, “We’re also proud to have our own Doyen of the Nigerian Insurance Industry, Olola Olabode Ogunlana, FCIB, been awarded Lifetime Achievement Awards at the 2025 Conference of the British Insurance Brokers Association, to recognise the contributions of one of our eldest and most experienced insurance practitioners in Nigeria. I am delighted that this was done under this administration.”

Disclosing that the council, under his watch, has  strengthened its membership engagement, providing support, resources, and services that meet its members needs, he said, today, 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,” he assured.

To him, “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.”