College of Insurance partners international organisations to boost status



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The Rector, College of Insurance and Financial Management (CIFM), Mrs Yeside Oyetayo, on Tuesday said the college had partnered with various international organisations to boost its status and meet the industry’s present and future requirements.

Oyetayo made this known while delivering an address at the 5th CIFM Graduation of Diploma programmes in Lagos.

She listed some of the international organisations to include: Impact Insurance Facility of the International Labour Organisation (ILO), Switzerland, GIZ, a German trade facilitation agency and the Centre for Financial Regulation and Inclusion, Cenfri, South Africa.

According to her, the efforts of the college had gone unnoticed and its appointment as the Bancassurance Officers in the industry was an attestation to this fact.

We recognise that the Nigerian insurance industry requires specific skills to propel it to the next level and take its rightful place in economic development.

Therefore our mission is to provide insurance training of global standards to meet the industry’s present and future requirements.

The college had continued to deepen its involvement with the industry through customised training programmes to meet specific needs of various companies in the industry, ” Oyetayo  said.

According to her, the institution would commence training of Annuity and Pension Staff as provided in the proposed Guidelines for Annuity and Pension Business.

The rector, however, explained that the diploma programme which is designed to prepare students for a successful career in insurance was a rich programme that enables students complete their professional examinations within a very short period.

The objective of the diploma programme have continuously been met by over 90 per cent success rate of our students in the Chartered Insurance Institute of Nigeria (CIIN) examination held in April and October.

Besides, over 75 per cent of our unemployed graduates have subsequently secured employment in various insurance companies,” Oyetayo said.

According to her, the college graduated 10 students for the 2018/2019 academic session.

Oyetayo urged the graduands to combine skills acquisition with integrity and professional ethics for a successful career in the industry.

She, however, appreciated the CIIN Governing Council for its commitment toward the development of the college, ensuring that academic standards were not compromised and that the institution continued to achieve landmark achievements.

In his opening remarks, Mr Eddie Efekoha, President, CIIN, while congratulating the graduands, urged them to keep learning, trying, accomplishing and keep moving forward in the great journey of life.

Efekoha, represented by Sir Muftau Oyegunle, Chairman, Governing Board of the College, said that the institute was committed to the development of the college, as evident in ongoing construction work.

A standard tennis court has been built to promote recreation in addition to the Rector’s lodge and staff quarters.

An ultra-modern auditorium is also being constructed,’’ he said .

In his address as Governing Board Chairman, Oyegunle lauded the National Insurance Commission (NAICOM) for its recognition of the college’s capacity to deliver training of global standards to the industry.

Also, Mr Akin Ogunbiyi, Chairman, Mutual Benefit Assurance Plc, urged the National Insurance Commission (NAICOM) and the Nigeria Insurance Association (NIA) to consolidate with support at all levels to guarantee compliant with the Market Development and Restructuring Initiative (MDRI)

He said the MDRI launched several years ago if strengthened, would among others, enforce compulsory insurance and eradicate ‘fake’ insurance certificates.

The regulators should also guarantee compliance with the Nigerian Insurance Industry Database (NIID) created by NAICOM in collaboration with NIA,” he said.

Ogunbiyi further urged insurance practitioners at all levels to clearly exhibit commitment to each other.

In her lecture titled: “Imbibing the Right Ethics in Insurance Profession,’’ Mrs Adeyinka Adekoya, an Insurance expert, said the future of the insurance industry lies in the ability of practitioners to show the highest standard and adhere to professional ethics.

Edited by: Adeleye Ajayi

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