Nigerian Council of Registered Insurance Brokers lauds NAICOM on policy withdrawal

Commissioner for Insurance, Alhaji Mohammed Kari

By Bankole Orimisan

The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Shola Tinubu, has appreciated the Commissioner for Insurance, Alhaji Mohammed Kari and his team for considering brokers’ plea to withdraw the guideline on State Insurance Producer (SIP) policy.
He described the commission as a listening regulatory body, which has again demonstrated the desire
to grow an industry that would contribute meaningfully to the nation’s economic growth.
The withdrawal and cancellation of the guideline came barely 24 hours after a fruitful town hall meeting of top management of NAICOM and Members NCRIB.

According to him, the gesture would further enhance the council’s confifldence in the leadership of NAICOM, stressing that the confidence reposed on NAICOM was never betrayed.
“The council appreciates NAICOM for the magnanimity in withdrawing the guideline as it will lead to the much desired progress and cohesion required for the industry’s growth.
“We are back on drawing board to chat a way forward in deepening insurance penetration and entrenchment of MDRI among Nigerian populace to ensure more financial inclusion and make insurance a front burner in growing the nation’s economy as it is obtainable in other climes.
“It is pertinent to note that the current leadership of NAICOM has over the years demonstrated unprecedented understanding and all inclusive regulatory system whereby the Council has always been carried along in formulation of policies and guidelines before it eventually become operational,” he said.