PRESS CONFERENCE ADDRESSED BY LADY ISIOMA CHUKWUMA, PRESIDENT/CHAIRMAN OF COUNCIL, CHARTERED INSURANCE INSTITUTE OF NIGERIA (CIIN) ON WEDNESDAY 22nd JUNE, 2016 IN THE COUNCIL CHAMBERS OF THE INSTITUTE.
I consider it a rare privilege to be in your midst today and also in welcoming you to this parleywith members of the Press. I have interacted severally with you all at one point or the other since my assumption of office as the 47th President of the Chartered Insurance Institute of Nigeria. This is however the first time I will be addressing you all in a formal setting.
I must appreciate the important role the Press is playing in making sure that insurance forms part and parcel of our national consciousness.
I must also acknowledge the immense contributions of the media towards the success of my Investiture as the 47th President of the CIIN on Tuesday 11th August, 2015, at the Federal Palace Hotel, Victoria Island.
I must admit that presiding over the affairs of the Institute for the past 11 months following my investiture has both been challenging and rewarding. Challenging in the sense that, sustaining the successes of my predecessors has not been an easy task and rewarding because we have been able to achieve to some extent the objectives set at the beginning of this Presidency.
The successes recorded so far have been as a result of the support and co-operation of all stakeholders in our great Institute, the National Insurance Commission, the Governing Council Members, all categories of members, other sister bodies within the Industry under the aegis of the Insurance Industry Consultative Council (IICC) and the Institute’s Secretariat.
The theme of my Presidency; CONSOLIDATING THE GAINS OF THE INDUSTRY FOR NATIONAL ECONOMIC GROWTH is borne out of the conviction that we can achieve greater success for our Institute and the Insurance Industry as a whole if we consolidate on the gains the Institute has made in the last few years whilst leveraging on such gains of the Industry for National Economic Growth
Against this background, the following on-going concerns were vigorously pursued during this Presidency:
1. SUSTENANCE OF THE IDEALS OF THE INSURANCE INDUSTRY CONSULTATIVE COUNCIL (IICC), ESPECIALLY THE JOINT INDUSTRY MEGA CONFERENCE.
Following the inauguration of the IICC by the erstwhile Commissioner for Insurance, Mr. Fola Daniel, the IICC has been in the forefront of the campaign to reposition the Insurance Industry in Nigeria. The IICC has been able to foster relationships with relevant governmental Institutions and personalities by paying them scheduled courtesy visits in order to showcase the Insurance Industry as being united in its efforts to raise the GDP of Nigeria. The IICC has also been able to make necessary inputs into the National Budget for the past two years.
The second edition of the Insurance Industry Mega Conference re-christened; the National Insurance Conference has been scheduled to take place in July 2016. The Conference which is a joint effort of the Institute and the trade associations within the Insurance Industry was conceived from the need for Insurance Industry stakeholders to assemble under a common banner to address the opportunities and challenges facing the Industry. The Institute is fully committed to the sustenance of the National Insurance Conference and will continue to support any initiative that seeks to uphold the unity and enhance the growth of the Insurance Industry.
2. REINFORCING THE HUGE POTENTIALS OF THE COLLEGE OF INSURANCE AND FINANCIAL MANAGEMENT.
Following the selfless efforts of my predecessors in ensuring setting in motion the effective take-off of academic activities in the College of Insurance and Financial Management, I can confirm to you that Academic activities have since commenced at the College following its official commissioning.
I am pleased to inform you that the Graduation Ceremony of the first set of Diploma Students of the College of Insurance and Financial Management (CIFM) was held on Friday 18th December, 2015 and the Induction Ceremony for the second set of Diploma Students was held on Tuesday 16th February, 2016.
3. SITUATING THE CIIN ON THE GLOBAL STAGE
The Institute is especially committed to and is presently exploring every means possible at situating the CIIN brand on the global stage. We are presently fine-tuning our exemptions relationships with CII (UK). We have consolidated the existing off-shore examination centres of the Institute in Banjul, The Gambia and in Kigali, Rwanda and presently pursuing with vigor the extension of the frontiers of our professional examinations to the West African sub-region and other parts of sub-Saharan Africa.
We have also re-structured the Corporate Affairs Unit of the Institute in order to effectively drive this agenda. It is my utmost belief that the results of these actions shall manifest in the shortest possible time.
4. PROMOTING INSURANCE AWARENESS BY INCREASING THE VISIBILITY OF INSURANCE IN THE MEDIA.
The Institute recognizes the role of the media in projecting its ideals and has continually engaged the media in propagating same. We have nurtured and sustained cordial relationships with major media houses by way of paying them courtesy visits and by inviting them to our programmes and events for effective coverage and subsequent reportage.
During this Presidency, the Institute has embraced new Media platforms in order to reach out to the younger generation to attract them to the study and practice of Insurance. The Institute can now be reached via social media outlets like Twitter, Facebook and Instagram. We shall constantly be employing all avenues available to raise the awareness and acceptance of Insurance during the course of this Presidency.
The Institute is also working with the trade associations in the industry under the umbrella of the IICC to host a Joint Media Retreat in 2016 following the successful hosting of its maiden edition in 2014.
5. FOLLOW-UP ON THE RECOGNITION OF THE CIIN CERTIFICATE BY THE HEAD OF SERVICE OF THE FEDERATION.
Discussions are at an advanced stage with the office of the Head of Service of the Federation for the gazetting of the Institute’s professional qualifications for employment purposes in the Civil Service. This process, when completed would become an added advantage to holders of the Institute’s certificate seeking employment into any government Institution across the various levels and tiers of government.
6. FURTHER WORK ON ACHIEVING WIDER COVERAGE IN THE PRESENTATION AND DISTRIBUTION OF THE INSTITUTE’S SPONSORED INSURANCE TEXTBOOK FOR SENIOR SECONDARY SCHOOLS.
Following the publication, launching and presentation of Insurance Textbook for Secondary Schools to the State Ministries of Education in Lagos, Ogun, Edo, Ondo and Kwara States, the Institute in the past year has been able to donate copies of the book to all public Senior Secondary Schools in Rivers, Imo, Osun, Ekiti and Enugu States through their various Ministries of Education. In all, over three thousand copies of the book have been donated to further enhance the teaching and study of Insurance as a subject in Secondary Schools in Nigeria. We are currently working with some identified states through the Institute’s local chapters to facilitate the donation of the books to such states while the proposed Launching/Presentation of the Book at the National Level will also be pursued to its logical conclusion.
7. RENEWED PURSUIT OF TRAINING FOR INSURANCE TEACHERS ON A NATIONAL LEVEL.
The Train-the-Trainer programme was designed for the upscaling of Insurance education and to ensure that insurance teachers possess the required skills for imparting the necessary knowledge to the future generation of insurance practitioners.
The programme was first carried out in Lagos and Ogun States and has since been replicated in other parts of the country. We are presently engaging some states we have visited to fashion out modalities to host the programme in such states.
I am pleased to inform you that the laudable idea of the Train-the-Trainer programme has been well received and many states have shown enthusiasm in partnering with the Institute and the College in this regard.
The Institute has also aided in the study and teaching of Insurance by providing support to Institutions across the country through donation of course books, equipping libraries with study materials and equipment and also by imploring insurance professionals to volunteer as teachers and lecturers in Institutions so as to cover for the dearth of Insurance teachers and lecturers in our Institutions.
8. COMPLETION OF THE INSTITUTE’S EXAMINATIONS SYLLABUS REVIEW.
Considering the dynamic nature of the insurance profession and in order to continually benchmark the Examinations Syllabus with the most relevant Insurance professional bodies worldwide, the Institute is close to concluding a syllabus review to ensure that our professionals stand at par with their foreign contemporaries.
We have identified relevant local and foreign Institutes Examination Syllabuses for alignment and ease of conversion. We are engaging the identified Institutes to agree on subject by subject exemption for CIIN Diploma.
We are also engaging the Nigerian Universities Commission (NUC) and the National Board for Technical Education (NBTE) in a bid to allow for the Institute’s input in the syllabuses of Institutions offering Insurance either as a subject or as a course of study.
9. COMMENCEMENT OF CONSTRUCTION WORKS ON THE INSTITUTE’S VICTORIA ISLAND PROPERTY.
The Institute has secured all relevant documents and government permits for the continuation of work at the site.
The preliminary activities have been concluded to secure the services of developers for a Build Operate and Transfer (BOT) arrangement. We are also exploring the possibility of entering a counterpart funding agreement to place the Institute in a prime position.
The present economic situation of the country has made getting a developer a bit difficult. The process has continued with the appointment of a project manager that will supervise the advertisement for and selection of a reputable developer.
We have not allowed the poor economic situation to deter us. This is one project that will continue to have our attention. We shall continue to explore all options that will lead to its successful completion. It is a big task. However, we shall make it top of our priorities.
10. PROMOTION OF CIIN MEMBERS’ BENEFITS
The Institute has over the past year focused on improving exiting members’ benefits.
Group Life Policy had been incepted for all Past Presidents and all elected Council Members. The policy provides a sum assured of five million naira (N5,000,000) per each life assured.
Similarly, The Institute had also instituted a group life policy for all financial professional members. The policy provides a sum assured of five hundred thousand naira (N500,000) for each life assured and the policy also covers two hundred and fifty thousand naira (N250,000) for permanent disablement arising from accident.
OTHER ACTIVITIES OF MY PRESIDENCY
A. PRESENTATION OF COMMEMORATIVE PLAQUES TO PAST PRESIDENTS OF THE INSTITUTE.
It was observed that none of the Past Presidents of our great Institute has any visible evidence of their service to the Institute that will remind their family and friends that they once served as President of the Institute. This informed the presentation of commemorative plaques during the last edition of the Insurance Professionals’ Forum in Abeokuta, Ogun State to all Past Presidents of the Institute in remembrance of their services to the Institute.
We have visited the Past Presidents who for one reason or the other could not attend the presentation and presented their plaques to them. The responses and reactions from the honoured Past Presidents show that this decision was a step in the right direction.
It is therefore safe to say that a commemorative plaque would be presented to every outgoing President of the Institute during the Investiture of a new President.
B. COURTESY VISIT TO INDUSTRY ELDERS
The Institute in keeping with our recent tradition was able to pay New Year courtesy visits to Industry Elders during the months of January and February, 2016.
These courtesy visits were deemed necessary in order to give a sense of belonging and relevance. The visits are also carried out to check on their well-being and to brief them on the new initiatives of the Institute as well as on the progress of the projects they were part of during their active days.
During the course of the year, major appointments were made affecting members of the Institute. They include:
– The appointment of Mr. Richard OlutayoBorokini as the Director-General of the Institute following the retirement of Mr. Kola Ahmed who served as Director-General between 2013 and 2016.
– The appointment of Mrs. Obianuju Elizabeth Ndubuisi-Chukwu as the Deputy Director-General of the Institute.
– I also report the selection and coronation of Dr. J.O Adetimehin (Past President 2011 – 2013) as the JegunOlu-Ekun and Paramount Ruler of Ile-Oluji Kingdom, Ondo State by the Executive Governor of Ondo State, Dr. Olusegun Mimiko. The Coronation ceremony was well attended by distinguished members of Council led by my humble self.
Distinguished members of the fourth estate of the realm, we have come a long way in reaching our set objective for the Institute during my tenure but we still have a long way to go. I therefore once again solicit your unalloyed support as we steadily march to our goal.
I wish to assure you of the Institute’s commitment to sustain and strengthen the bond between the Institute and the Press.
We look forward to your participation at all programmes and events of the Institute as we continue to further drive the promotion of Insurance Awareness and Education in Nigeria.
Thank you for your attention.
LADY ISIOMA CHUKWUMAACII, AIIN
President/Chairman of Council
CHARTERED INSURANCE INSTITUTE OF NIGERIA