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Obasanjo underscores need for insurance

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By Omobola Tolu-Kusimo

Former President, Olusegun Obasanjo has urged Nigerians to factor insurance into their decisions to enjoy its benefits.

Obasanjo spoke when the delegation of the Nigerian Council of Registered Insurance Brokers (NCRIB), led by its President, Dr. Bola Onigbogi visited him in his residence in Abeokuta.

The council conferred on the former president the Honorary Fellowship and Brand Ambassador awards.

He said insurance is like a nation’s army whose roles are most appreciated during wars or unforeseen circumstances.

He regretted that many treat insurance with levity or even refuse to embrace it until the unexpected happens.

He averred that most of the insurance laws and policies he assented to during his tenure were based on his understanding of insurance as a safety valve.

On the awards, he commended the insurance brokers for their role in the insurance value chain and promised to deploy his personality to project the brand  as well as their crucial roles.

Earlier, Mrs Onigbogi applauded Chief Obasanjo for signing the NCRIB Act No. 21 of 2003, noting that the law is a watershed in the annals of the council and the operators.

She said it was in recognition of this support that the Governing Board of the council approved the awards.

She asked for Obasanjo’s support for the inclusion of insurance operators in the Nigeria Social Insurance Trust Fund (NSITF) for more effectiveness to the target populace.

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