Corporate Information LEGAL STATUS
The Nigerian Council of Registered Insurance Brokers was established by an Act of the National Assembly (NCRIB Act No. 21 of 2003) which was signed into law by the then President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Chief Olusegun Obasanjo, GCFR on 4th July, 2003 . The Council succeeded the Nigerian Corporation of Insurance Brokers founded in 1962 and incorporated on 9th May, 1967 as a non-profit making organization limited by guarantee under the Companies Act (1968). The Council is the Umbrella Association of all Registered Insurance Brokers in Nigeria who are by law expected to be registered by it before they can be licensed to operate in the Nigerian Insurance market by the National Insurance Commission.
Objectives of the Council
For the purpose of registration as members, the number of the Council is unlimited. At present, there are over 550 registered members of the Council.