By Favour Nnabugwu

The College of Insurance and Financial Management (CIFM) is to accommodate  1500 seating of insurance professionals for training, and fora with a capacity multipurpose auditorium commissioned today

The auditorium situate at Lagos Ibadan- Expressway in Ogun State, named ‘NAICOM Hall’ was commissioned by the Commissioner for Insurance, Mr. Sunday Thomas.

He solicited for the assistance of insurance’ operators and stakeholders for the completion of the Chartered of Insurance Institute of Nigeria (CIIN) office building at Victoria Island.

He recalled that the CIIN’s office building which foundation was laid over 30 years ago was over due for completion .

According to him, “The same commitment that delivered CIFM with its infrastructure can do i”.

The commissioner noted that commissioning of the College’s Auditorium NAICOM Hall was the outcome of a carefully thought-out need of the college by CIIN with the financial support of the commision.

NAICOM is thus elated at its completion and the expected service it will deliver to the industry and the public.

“The auditorium will facilitate the mass quality training of insurance professionals/agents and as well provide adequate facility for conducting the CIIN professional examinations.

“The completion of this 1,500 seating capacity multipurpose auditorium will undoubtedly be a value-addition not only to the college but the entire insurance sector of the Nigerian economy.

“It is a firm believe that you will put this infrastructure to good use for the
benefit of all stakeholders,” he said.

Thomas applauded Mr. Muftau Oyegunle, president and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) and members of the council for delivering on the project within a good time.

He congratulated Eddie Efekoha, immediate past president of the CIIN under whose tenure the process of actual construction of the auditorium was incepted .

He lauded Elder Edwin Egbiti, President of CIIN and Chairman of the Governing Council of the college, members of council
of the college.

Also, the college Rector, Dr. Yeside Oyetayo and members of her team for their commitment, doggedness and resilience in ensuring the completion of the auditorium.

“Am aware a number of individuals and corporate entities rendered their support and made sacrifices to ensure the success story of today.

“I congratulate all of you and urge you not to relent in your drive to attract further development to the college,” he said.

The Commissioner promised that NAICOM will as usual, continue to extend her full support to not only the college and the CIIN but all deserving stakeholders in the industry in their drive for insurance business growth and development.

Thomas emphasised that the commision is open to new ideas and shall continue to introduce new reforms and initiatives in line with international best practices that will strengthen its institutions.

He said the commission, under the current dispensation strategically focused on human capital development anchored on relevant upscale of skills, digitalisation and product innovations, effective and efficient services delivery.

Thomas stated that several initiatives have been designed by the commission to facilitate attainment of strategic focus which will redefine the future of the Nigerian insurance market.

“The commision is internalising the human capital development initiative through the effective plan of action for the takeoff of its academy.

“We will soon be requesting for assistance of erudite scholars in the industry to fill the academy,” he said

In his address, Sir Muftau Oyegunle, President, CIIN appreciates NAICOM for her support towards the completion of the college auditorium.

Oyegunle commended the commissioner for insurance for his unrelenting passion to promote insurance education and grow the industry.

“We must acknowledge the unwavering dedication of the rector, Dr Oyetayo who ensures that the project is successfully completed in record time.

“This project is not just the outcome of our financial commitment but also the passion with which the rector received and continued to drive the CIFM vision.

“Without any doubt, both the commision and the institute have confident on the ability of the CIFM to deliver the necessary manpower for the immediate and future needs of the Nigerian Insurance Industry , ” he said.

Oyegunle appealed to NAICOM and other stakeholders in the industry to partner with the institute to make the completion of the CIIN office building a reality in not -too distant future .

Lending her voice, Dr. Oyetayo lauded NAICOM, Governing Council of the college and other stakeholders for their contribution to building the auditorium.

Oyetayo promised that the management of the college shall maximise the potential of the auditorium to facilitate numerous training programmes and continue to promote the insurance industry’ s educational initiatives.

Chairman, Infrastructural Development Committee, Segun Balogun, said the auditorium project was quite challenging from the architect ural design stage to the financing, construction and now the commissioning.

He noted that the cost of construction of the auditorium when it was contemplated in 2016 was set at N110 million, but at the time of the commencement of construction in 2019, the cost had tripled due to inflation.