By CHIKA OTUCHIKERE
Insurance brokers in the country have put up an appeal to President Goodluck Jonathan to prevail on the country’s insurance regulator, the National Insurance Commission (NAICOM) to rescind its decision to delist over 120 brokerage firms.
The insurance brokers who spoke under the umbrella of the Association of Practising Professional Insurance Brokers of Nigeria (APPIBON) lamented the unhealthy environment which they operate noting that delisting the operators would only worsen situations for them.
The petition which was dated September 15 and signed by the president of the association, Mr Delly Ajufo, was titled: "Proposed Delisting of Insurance Brokers by the National Insurance Commission (NAICOM)."
The association which listed the contribution of the insurance brokers to the growth of the Nigerian economy also identified some of the implications the delisting would have on the economy to include reduction of market penetration, exacerbation of unemployment and frustration of Insurance Customers.
Part of the petition which was copied to the chairmen of the Senate and House of Representatives committees on insurance, the ministers of industry, trade and investment and finance read; "Our association, APPIBN has been formed with the sole purpose of bringing back the insurance industry to its prized position as the chief mobiliser of funds for the economic growth of our country.
" We are quite concerned that the industry, which ranked first in the finance sector as the catalyst of development is today struggling for survival. Our association has therefore come to work with other stakeholders to take the industry to the prized position in the Nigerian Economy.
Source: Leadership Newspaper
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