Brokers enjoin govt to shield railroad system with insurance

Brokers under the auspices of the Nigerian Council of Registered Insurance Brokers (NCRIB) have called on the Federal Government to ensure the huge investment in railroad sector is safeguarded by embracing insurance.

The President of the NCRIB, Dr. (Mrs.) Bola Onigbogi, made this call at the December 2019 Edition of NCRIB Members Evening hosted by African Alliance Plc in Lagos, while commending the government for the enhancement of public transportation in Nigeria through the strengthening of the nation’s railroad system.

Onigbogi said, “As a critical stakeholder in the economy, we will like to first commend the federal government for the enhancement of public transportation in Nigeria through the strengthening of the nation’s railway system. Aside from aiding commerce and reducing road accidents, the railway system will also create more jobs for Nigerians.

“However, the government is hereby implored to ensure that the huge investment in that sector is safeguarded through embrace of insurance. This, to us, is one of the prudent ways to protect this great national asset and guarantee that it endures”.

She also applauded the government over the closure of the country’s borders with her neighbouring countries, stressing that to all intents, the move was quite salutary as it would protect local production of goods and services.

She however, advised the government to use the opportunity of the closure to encourage the acceleration of local capabilities so that its strides towards self-sufficiency would be guaranteed.

“It is a fact that no country could wholly depend on foreign countries for survival, but this must come with utmost sincerity on the part of the government,” she added.

The NCRIB chief used the occasion to debunk allegation credited to the Corps Marshall of the Federal Road Safety Corps, Boboye Oyeyemi, said to have accused brokers of taking advantage of the ignorance of travelers to deny them of compensations in the event of mishaps.

She posited that the body views the comment as a clear exhibition of ignorance and poor perception of the FRSC about who a broker is and what his roles are in the insurance value chain.