Speech delivered by Olusola Ladipo-Ajayi, Esq. FCII, FCIIN, on the occasion of his investiture as the 39th chairman of the Nigerian Insurers’ Association on the 30th of june, 2010.
With profound gratitude and great humility, I accept the confidence expressed by my investiture as the 39th Chairman of the industry’s largest trade association, the Nigerian Insurers’ Association, NIA.
Let me begin by expressing my indebtedness to you all for counting me worthy of assuming the most coveted office of the Chairman. I would also like to pay tribute to my predecessors in office, most especially the Immediate Past Chairman, Mr. Oluwole Oshin. I appreciate the interest of members, as manifested in the keenly contested elections into the Governing Council, which we have just concluded.
On my advent as the Chairman at this time, it is a tremendous challenge, but I believe that with the commitment of all members of the Association we should be able to ‘bring the chestnut out of the fire together’.
At a time like this, the industry needs men and women of courage and integrity. I am very sure that there is an abundance of these within our industry. I would try to offer a leadership that will harness the human and financial resources of our industry to achieve the goal of sustaining the industry during these difficult times.
We continue to talk about apathy towards insurance, but it is taking a different direction now, because, we are all aware of certain public policies which are inimical to the practice of insurance in this country. However, the onus is on us all to work against this trend. At this juncture, I would like to applaud the efforts of the Immediate Past Chairman in offering the challenge to the passage of the Employer’s Compensation Bill.
I am under no illusion that the battle is over. But, I make a solemn promise to challenge the bill and any other bill that may be counter-productive to the industry with zeal.
It is also unfortunate that a section of the press has taken delight in battering further the already battered image of our industry. It must be noted that the NIA supports the freedom of information and would never be a party to hoarding of information.
I therefore seek this opportunity to ask that our friends in the press should always ensure a balanced reportage of our activities. We shall encourage a more open door policy and grant them access to desired information, with the hope that they would be adequately informed from the source and at the same time convey such information to the public appropriately.
I also want to appeal to members of the industry, who for one reason or the other, indulge in disseminating inaccurate information to the press, to desist from such act, ‘because you cannot cut your nose to spite your face’.
The NIA is an association established to promote good relations among its competing members. It is not intended to stifle competition, but to promote friendly competition. This is why the association has put in place a market agreement to ensure fair play among members.
I appeal to all members of the Association to respect this agreement and let us work together to make our industry a profitable one.
I would like to pay tribute to other trade associations like NCRIB, ILAN and Agents together with whom the NIA forms the insurance industry. ‘The bird does not fly with one wing’; we shall continue to depend on them in all our efforts to bring sanity into the industry.
The NIA had also passed a resolution during the tenure of office of the Immediate Past chairman to collaborate with the Chartered Insurance Institute of Nigeria in the area of human capital development. We invite the other trade groups to join hands with the CIIN so that we have a co-coordinated approach rather than working at cross-purposes.
I must also assure the National Insurance Commission, NAICOM that we would work closely with them in all areas, especially in ensuring compliance with their regulations and in their efforts to deepen the market as evidenced in the launching of the Market Development and Restructuring Initiative (MDRI).
I wish to thank all past chairmen, past council members of NIA and elders of the industry. I would also extend my sincere wishes to our retiring Director-General, wishing him the best of luck in his future endeavours.
Distinguished members, guests, gentlemen of the press.
I THANK YOU ALL.
OLUSOLA LADIPO – AJAYI
30/06/2010.