Insurance brokers seek implementation of 2016 budget

Worried about declining economic activities and the need to redirect the economy on the part of growth, insurance brokers have called for quick implementation of the 2016 budget.

“Immediate implementation of the 2016 National Budget would definitely bring succor to Nigerians as it is disheartening that up till now, at the expiration of the fourth month of the year, government has not started the implementation of the budget.”

Kayode Okunoren, president, Nigerian Council of Registered Insurance Brokers (NCRIB) who made the call in Lagos said this is not the best of times for many Nigerians in view of the economic recession being experienced today.

“Obviously, our economy is presently bedeviled by challenges such as unfavourable exchange rate of the naira against the US Dollars; spiraling cost of goods and services that has constituted a hole in the pockets of Nigerians; the rock bottom prices of our crude oil in the international market coupled with the gale of corruption manifesting in the mismanagement of the nation’s resources has worsened the plight of the country.”

Okunoren said it is definitely natural that a time like this would ordinarily task the patience of the citizens just as we are already seeing at the moment.

“However, the take of the Council is that there is need at this period for Nigerians to have more patience and cooperate with the present administration in ensuring the revival of our national economy.” “Realising that no one could proverbially eat an omelette without breaking an egg, Nigerians need to endure the temporary hardship for a better tomorrow.”

He however said that whilst the citizens are enduring and sacrificing, the onus is also on the leaders to lead by example and ensure their lifestyle conforms to what they preach in order to get the desire support of the followers.  The NCRIB reacting to a recent publication by NAICOM, that only 300 brokers have been licensed to operate, he said the rumour making rounds that only the 300 Brokers are on the list is misleading.

“This information is quite erroneous as number has increased to about 314 members as at today.”

“Suffice it to note that it is the statutory responsibility of NAICOM to make public the list of practitioners who have satisfied their renewal requirement as they are cleared by the Commission. The list will keep coming in batches as not all Brokers have the same renewal dates and that explains the differentiation in the period of the approval of their licenses by the Commission.”

He however enjoined NCRIB Members who have not satisfied the renewal requirements to do so as soon as possible to avoid the penalty from the regulatory body. I’m glad to inform you that NCRIB and NAICOM had continued to forge effective collaboration in the area of statutory registration.

Modestus Anaesoronye