Lagos – The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr Kayode Okunoren, said on Tuesday that the council would re-enlist 21 of its members de-listed from practice in 2015. Okunoren told the News Agency of Nigeria (NAN) in Lagos that the council had opened dialogue with the National Insurance Commission (NAICOM) on the issue. According to him, NCRIB is determined to restoring the businesses of its de-listed members to make them contribute to nation building. He applauded NAICOM’s efforts at sanitising and repositioning the insurance sector but argued that more was expected from the regulator. “This council is not opposed to NAICOM’s plan to sanitise the industry but we are not happy that the final and official list of de-listed companies did not get to NCRIB before being published. “It is only 21 out of the 108 delisted brokers that are registered members of NCRIB. “I said and repeat, 80 per cent of delisted brokers are not members of NCRIB and we don’t have members that flaunt regulatory requirements.
[pro_ad_display_adzone id=”70560″]
” Okunoren said, however, that the council had kicked off the first phase of its engagement with NAICOM to bring delisted members back to reckoning. “All things being equal, we expect them to be back in business by March.” The president said the council was not happy that any operator in the market would continually flout regulatory requirements as enshrined in the law. “On my assumption of duty in 2015, I made a representation to NAICOM on this and other issues on which we got assurances from the commission. “While we are still looking at opportunities to assist members with minor infractions by intercession, compliance issues must no longer be done with levity,” he stated. He appealed to NAICOM to ensure sustenance of communication channels with the council. “In other words, our members should be notified in good time on any aspect of compliance in which they are on the wrong path.’’ (NAN)