HEAVY FINES BY NAICOM HINDERS INSURANCE BROKERS PERFORMANCE

The out-going President of The Nigerian Council of Registered Insurance Brokers (NCRIB) Mr. Kayode Okunoren has said that various forms of levies an

d penalties on insurance brokers hugely affected their perf

ormances in the last two years.

Okunoren made this known during his Valedictory Press Conference at the Brokers House Alagomeji Yaba Lagos. He said that although the council was able to seek and get concession for members with the regulatory authorities, especially NAICOM and the Financial Reporting Council (FRC) through constructive dialogue, NAICOM has always seek the tiniest of excuse to impose heavy fines on Insurance Brokers in the last two years, thereby hindering their performance.

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