By Bisi Bamishe
President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers (NCRIB), Prince Babatunde Adeleke Oguntade, has described his two year tenure as a period of growth, collaboration, and renewed visibility for the insurance broking profession in Nigeria.
Looking back to his tenure as the President of NCRIB, Oguntade disclosed that it was marked by groundbreaking industry reforms, strengthened regulatory relationships, and strategic visibility initiatives.
According to him, the Council’s renewed collaboration with the industry’s regulatory body, National Insurance Commission (NAICOM) was commendable, appreciating the Commission’s current leadership for its inclusive and participatory approach, which had elevated compliance standards, reinforced professional ethics, and restored stakeholder confidence across the insurance landscape.
He noted that this synergy has not only enhanced oversight but has also cemented the Council’s relevance in shaping policy and practice within the industry.
A major development in the industry during his tenure was the enactment of the Nigerian Insurance Industry Reforms Act (NIIRA) 2025, which he described as “the best thing that has happened to the industry in recent times.”
With the Act now in effect, Oguntade urged all stakeholders to fully harness the law’s transformative potential, positioning the industry for long-term growth and innovation.
On capacity building, he said the Council invested heavily in training and workshops to keep members abreast of global best practices and regulatory updates. During his tenure,
Under his leadership, the Council invested significantly in training programmes, ensuring that brokers remain at the forefront of evolving market trends and regulatory expectations. He praised the Council’s Training Committee for ensuring that brokers remained well equipped to deliver professional service.
Highlighting other landmark, he spoke on Infrastructure development and legacy projects of NCRIB by providing information on the nearly completed Olola Olabode Ogunlana NCRIB Annex Building.
According to him, the building which is almost 70 percent completed, will be used primarily for commercial purposes. He celebrated Ogunlana’s recent recognition with a Lifetime Achievement Award at the 2025 BIBA Conference, describing it as a proud moment for the Council and a testament to Nigeria’s standing on the global stage.
Also was the visit by Mr. Graeme Trudgill, Chief Executive of the British Insurance Brokers’ Association (BIBA), to Nigeria, which he said, elevated the Council’s international profile.
The President assured that the incoming leadership under the president-in-waiting, Mrs Ekeoma Ezeibe would build on foundations already laid for cross-sector and global engagement.
Prince Oguntade expressed deep appreciation to journalists for their consistent and impactful coverage, noting that the press had played strong instrumental role in advancing the Council’s agenda over the past two years.
