NCRIB empowers directors of broking firms to optimise  business practices

Cynthia Ezekwe

The Nigerian Council of Registered Insurance Brokers (NCRIB) has embarked on an initiative to strengthen the capabilities of insurance broking firms by empowering their directors with advanced skills and knowledge to boost operational efficiency and professionalism within the industry.

Speaking at the insurance brokers directors’ conference, titled, “Running an Effective Board”, Babatunde Oguntade, president of NCRIB, emphasised the significance of effective governance and operational efficiency in insurance broking firms, not just in Nigeria but across the global industry.

Oguntade underscored the vital role of the board in modern business, noting that it goes beyond just a group of intelligent or erudite individuals. Instead, an effective board serves as the cornerstone of a company’s success, underpinning its professional integrity and ensuring long-term stability. According to Oguntade, a board provides the strategic direction and leadership that guides a company toward sustainable growth and resilience.

“In realisation of this, the NCRIB, has continually desired to empower board members of its member companies to be able to play their critical roles most effectively; and it is heartwarming that this conference is the second edition,” he noted.

Oguntade highlighted the council’s meticulous efforts to secure experienced professionals to deliver impactful and strategic sessions at the conference, covering contemporary issues relevant to board operations and sustainability of the companies.

The NCRIB president also reiterated the council’s commitment to promoting the growth and long-term sustainability of broking firms in the country, while ensuring that these entities adhere to established laws and best practices.

Also speaking, Ekeoma Ezeibe, deputy president of NCRIB, underlined the importance of transparency and accountability in board governance, stressing that board members must guarantee a robust ethical framework that not only adheres to regulatory standards but also preserves the trust of clients, regulatory bodies, and the public.