The Chartered Insurance Institute of Nigeria [CIIN] says the prevailing forex regime of the Central Bank of Nigeria [CBN[ constitutes a stumblimg block to the realisation of its policies and programmes in the insurance sector. The Institute however hoped that the new flexible forex policy which took effect last Monday could improve the situation going forward.
Lady Isioma Chukwuma, President of CIIN, who reviewed her 11-month period in office as the 47th presiden of the Institute listed her 10 major achievements so far as:
· 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.
· REINFORCING THE HUGE POTENTIAL 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.
· 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.
· PROMOTING INSURANCE AWARENESS BY INCREASING THE VISIBILITY OF INSURANCE IN THE MEDIA.
The Institute recognises 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.
· FOLLOW-UP ON THE RECOGNITION OF 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.
· 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.
· 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.
· 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.
· 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.
· 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.