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NCRIB laments poor insurance penetration in North

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President of NCRIB, Dr. Bola Onigbogi


The Nigerian Council of Registered Insurance Brokers (NCRIB) has lamented the low acceptance of insurance in the Northern part of the country despite its population size.

President of the Council, Bola Onigbogi, expressed the concern in Kano, during the conferment of NCRIB brand ambassador to the Emir of Kano, Alhaji Aminu Ado Bayero.

“In spite of the huge population of the North, statistics showed that the level of acceptance of insurance as a risk mitigating device is abysmally low, warranting that all hands be on deck to revert the situation,” she stated.

Onigbogi explained that the insurance industry in Nigeria was yet to occupy its proper position in the nation’s economy due to multifarious reasons concerning poverty, noxious religions and traditional beliefs.

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“It is a known fact that the world is full of risks and one way to mitigate risks is through the embrace of insurance.

“It is in a bid to give personality endorsement to the NCRIB brand, in consonance with the thrust of office of my leadership of the Council that few eminent Nigerians had been chosen as Brand Ambassador of the Council,” Onigbogi added.

According to her, the North, especially Kano, has significant historical and economic relevance in the nation’s scheme of things, in terms of population, hospitality and richness of culture and tradition.

Noting that the Emir of Kano was the third Nigerian to be conferred with NCRIB brand ambassadorship so far, Onigbogi described him as one of the most venerated traditional rulers that any worthy individual or professional group must identify with.

“It is our hope and prayer that your Royal Highness would deploy your position of influence as a father of all to constantly enlighten your numerous subjects about the benefits of Insurance to their properties and lives, most importantly, the need for them to engage registered insurance brokers in order to fully maximize the value of their insurances.

Responding, the representative of the Emir, Alhaji Babba Dagundi promised to use the Emir council’s position to assist the NCRIB to break the barriers of misconception and poor acceptance of insurance in the region.

The delegation also took the campaign on insurance to major motor parks in the Kano metropolis where the president and other members of the delegation took turns to sensitize motor drivers on the importance and the benefits of motor insurance.

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