GOODWILL MESSAGE DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, PRINCE BABATUNDE ADELEKE OGUNTADE, FIIN, FCIB AT THE 2ND BUSINESS JOURNAL FINTECH AND FINANCIAL INCLUSION ROUNDTABLE 2025 HELD IN LAGOS
Commissioner for Insurance, Mr. Segun Omosehin
Director General, National Pension Commission, Ms Omolola Bridget Oloworaran
Chairman of this Occasion, Dr. Umaru Kwairanga
Erudite Keynote Speaker, Dr. Biodun Adedipe
Members of the Panelist
Convener of this event, Prince Cookey
Distinguished guests,
Fellow participants,
Gentlemen of the Press
Ladies and Gentlemen
It is an honor to be invited as Special Guest at the 2nd Business Journal Fintech and Financial Inclusion Roundtable, holding here today. It would have been my pleasure to be personally present at this Roundtable, discussing some of the opportunities and challenges that our Industry is facing, most especially as it concerns issues of Technology, but for exigencies of duty that took me out of Lagos.
The theme of this conference, “Fintech and Financial Inclusion: The Opportunity and Challenges for Nigeria,” is both timely and relevant. As we navigate the rapidly evolving financial landscape, it is crucial that we harness the potential of fintech to drive financial inclusion and economic growth.
The recent signing of the Nigeria Insurance Industry Reform Act (NIIRA) 2025 is a significant milestone in this regard. This Act promises to promote a more conducive business environment for insurance professionals and the industry at large. With its emphasis on digitization, compulsory coverage, and strict enforcement of claims settlement timelines, the NIIRA 2025 is poised to drive innovation, expand access to insurance services, and enhance consumer protection.
However, as we leverage fintech to drive growth and inclusion, we must also prioritize data protection and cybersecurity. The insurance industry, which we represent, is built on trust and reliability, and it is essential that we ensure the security and integrity of sensitive customer information.
In this regard, we commend the Nigeria Data Protection Commission’s efforts to enforce compliance with the Nigeria Data Protection Act (NDPA) 2023. As industry stakeholders, we are committed to working together to address the challenges and opportunities presented by fintech and financial inclusion.
We believe that collaboration and innovation are key to unlocking new opportunities and addressing the challenges that lie ahead. The insurance industry plays a vital role in promoting financial stability and security, and we look forward to working with other stakeholders to drive growth, inclusion, and innovation.
On the part of Insurance Brokers, our Council is ready to collaborate and encourage all initiatives towards encouraging Fintech in Insurance operations. We see it as an enabler of our practice.
I wish you all fruitful deliberations and look forward to the insights and recommendations that will emerge from this conference. Thank you.
PRINCE BABATUNDE ADELEKE OGUNTADE, FIIN, FCIB
PRESIDENT & CHAIRMAN, GOVERNING BOARD
