Insurance World

Musa Plans To Address Challenges Confronting ECOWAS Brown Card Scheme, As He Becomes New Chairman

NKECHI NAECHE-ESEZOBOR--The new Chairman, Council of Bureaux, ECOWAS Brown Card, Mr. Ganiyu Musa has promised that he will address all challenges bedeviling the success of the insurance brown card scheme.

He disclosed this while presenting his acceptance speech at the 37th Session of the Council of Bureaux, ECOWAS Brown Card Insurance Scheme, with the main topic, ‘ECOWAS Brown Card Insurance : Emerging Challenges & Strategies for a better future’ held virtually in line with COVID-19 directives yesterday in Abuja that his leadership will leverage on the successes already recorded to reshape and promote the scheme among West African countries.

Musa who also double’s as the chairman of Nigerian Insurer Association (NIA), noted that the scheme is an idea that could transform insurance, especially, motor insurance scheme across the borders of West African countries.

He added that, it is an initiative that can raise insurance awareness and penetration across the region.

Musa is a highly experienced management professional with over 35 years of diversified experience in insurance, reinsurance, audit, consulting, business advisory and financial management. His professional experience started with Pannell Kerr Forster and later Arthur Andersen & Co where he trained and qualified as a Chartered Accountant and gained top quality experience in audit and financial consulting.

He subsequently worked at African Reinsurance Corporation for 19 years, holding key positions, including Director of Finance & Accounts/Chief Financial Officer and Deputy Managing Director.

He left Africa Re in 2011 to join African Capital Alliance (ACA), a leading pan-African private equity firm as Insurance Sector Specialist and a Director on the Board of Cornerstone Insurance Plc.

He joined Cornerstone Insurance Plc in 2012 as the Group Managing Director/CEO and he is the current Chairman of the Nigerian Insurers Association having also served as Deputy Chairman and Treasurer.

Ganiyu holds a Bachelor of Science (B.Sc. Hons.) degree in Business Administration and a Master in Banking and Finance (MBF) degree, both from the University of Lagos.

The ECOWAS Brown Card Insurance Scheme was established by Protocol A/P1/5/82 signed by the Head of States and Governments of the Economic Community of West African States (ECOWAS), on 29th may 1982 in Cotonou, People’s Republic of Benin.

The main objective of the Scheme is to ensure prompt and fair compensation to the victims of road accidents for the damages caused them by non residing motorists travelling from other ECOWAS member States to their country. In Europe, Green Card is a similar scheme implemented in 1953.

The ECOWAS Brown Card Scheme operates through a 14 National Bureaux network spread throughout the fourteen Member States. Each National Bureau plays two major roles, which are; to ensure Brown Card availability for local motorists : National Bureau operates therefore as an Issuing Bureau and to conduct investigation and settle claims arising from an accident caused by motorist holders of Brown Card. It then acts as a Handling Bureau.

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