NCRIB To Penalise Members For Late Dues Payment

The Nigerian Council of Registered Insurance Brokers (NCRIB) said recently  in Lagos that it would penalise its members who are late in paying their subscription fees.

President of NCRIB Teslim Sanusi told newsmen  that members would pay 25 per cent surcharge as penalty for late subscription.

According to Sanusi, NCRIB is worried over the members’ attitude towards payment of annual subscriptions.

According to him, any member that made late payment will be penalised from 2011.

“Some of our members are in the habit of being indebted to the council.

“The management has, therefore, resolved to penalise such members by requiring them to pay a cumulative surcharge of 25 per cent or risk being de-listed from the council’s register,” he said.

According to Sanusi, the management took this decision to ensure that annual subscriptions were paid on time.

The president said that NCRIB secretariat would forward a reminder to such erring companies, adding that it would do this through e-mail and text messages.