Chuks Udo Okonta
Embattled brokers can now sleep with their eyes closed as the National
Insurance Commission (NAICOM) has agreed to process this year’s renewals with 2012
accounts, as against the earlier position which stipulated that 2013 International
Financial Reporting Standards (IFRS) compliant accounts should be used.
President Nigerian Council of Registered Insurance Brokers (NCRIB) Ayodapo
Shoderu, who disclosed this yesterday in Lagos, said the leadership of the
Council took the appeal to the Commissioner for Insurance Fola Daniel, which he
graciously granted.
According to him, the commissioner was not happy with the number of
companies that have so far submitted their 2013 accounts, adding that the
Daniel put the numbers of submitted accounts at less than 30 per cent.
Shoderu noted that the commissioner also frown at the unethical practices
by some brokers who manipulate insurance premiums.
He
urged members to continually compliment the efforts of the national secretariat
in the enforcement of ethics and elimination of charlatans, adding that the
task is a collective one and it behoves operators to mount surveillance across
the zones of the country to ascertain those who are practicing as insurance
brokers illegally, with a view of bring them to book.
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