The Nigerian Council of Registered Insurance Brokers (NCRIB) witnessed a momentous occasion at the elegant Marriot Hotel in Ikeja, Lagos, as Barrister Rotimi Edu, the former NCRIB President and my esteemed colleague at Industrial and General Insurance, handed over the reins of NCRIB presidency to Prince Babatunde Oguntade, marking the beginning of his tenure as the 22nd President of NCRIB.
The presidency of NCRIB is a position earned through dedication and extensive service to the insurance profession and the insurance industry as a whole. Prince Oguntade has undoubtedly paid his dues in both regards. His extensive network and familiarity with NCRIB’s operations have earned him the moniker “Jagaban” within the organization.
Prince Oguntade’s illustrious career in insurance began nearly four decades ago at the National Insurance Corporation of Nigeria (NICON). He later joined Country and City Insurance Brokers Limited, where he ascended to the role of General Manager and Chief Executive Officer. In 2004, he ventured into entrepreneurship, establishing Lectern Insurance Brokers Limited, where he currently serves as the Managing Director and Chief Executive Officer.
His education and professional certifications span both local and international realms, positioning him as a Certified Insurance Practitioner, a member of the Chartered Insurance Institute of Nigeria (CIIN), and a Fellow of the Nigerian Council of Registered Insurance Brokers. Additionally, he holds the title of Fellow, Institute of Management Consultants (FIMC) and Fellow, Institute of Leadership Management and Manpower Development (ILMMD). Prince Oguntade has also been an active member of the Lagos Chamber of Commerce and Industry (LCCI) and served on the NCRIB Governing Board for over 13 years.
Throughout his journey within NCRIB, Prince Oguntade held several leadership positions and played vital roles, including Chairing the Lagos Area Committee, heading various committees, and serving as Vice President and Deputy President before ascending to the presidency in October 2023.
With a solid foundation and extensive experience, Prince Oguntade is well-prepared to lead Registered Insurance Brokers (RIB) in Nigeria to new heights. He has already outlined an eight-point agenda for his presidency. Notably, he has committed to enhancing the financial solvency of NCRIB by stimulating creative ideas and fostering collaboration with regulatory bodies like the National Insurance Commission (NAICOM).
Prince Oguntade has also expressed his dedication to opening opportunities for brokers of all sizes, focusing on smaller brokers who often face challenges in securing accounts. Training and mentoring are paramount in his agenda, as he aims to strengthen these aspects of the profession, making them accessible and affordable for all members.
Collaboration with international institutions like the British Insurance Brokers’ Association (BIBA), African Insurance Organisation (AIO), and West African Insurance Companies Association (WAICA) will continue to be a focal point, ensuring that NCRIB remains a key player on the global stage.
Furthermore, there is a critical commitment to addressing an urgent issue – the installation of a lift (elevator) at the NCRIB secretariat. This improvement is essential to accommodate members with health and age-related challenges, ensuring their active participation in NCRIB activities.
The newly elected council members, including Mrs. Ekeoma Ezeibe as Deputy President and Mrs. Olufunke Adenusi as Vice President, are well-equipped to assist Prince Oguntade in steering NCRIB towards a successful and progressive future.
In conclusion, we extend our best wishes to Prince Babatunde Oguntade and his dedicated team as they take on the responsibility of leading NCRIB for the next two years.