ADDRESS BY MR. FATAI KAYODE LAWAL, PRESIDENT/CHAIRMAN OF COUNCIL, CHARTERED INSURANCE INSTITUTE OF NIGERIA DURING THE OFFICIAL OPENING OF THE INSTITUTE’S 2014 INTERNATIONAL EDUCATION CONFERENCE

From left: Deputy Commissioner (Technical) National Insurance Commission (NAICOM), Mohammed Kari and President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal at the ongoing CIIN’s 2014 international education conference in Lagos.

 

 

ADDRESS BY MR. FATAI KAYODE LAWAL, PRESIDENT/CHAIRMAN OF COUNCIL, CHARTERED INSURANCE INSTITUTE OF NIGERIA DURING THE OFFICIAL OPENING OF THE INSTITUTE’S 2014 INTERNATIONAL EDUCATION CONFERENCE ON WEDNESDAY, JUNE 18 AT THE FEDERAL PALACE HOTEL, VICTORIA ISLAND, LAGOS.

Protocols

It is indeed a rare privilege and pleasure for me to welcome you all, on behalf of the Governing council, to the 2014 Annual Education Conference of our great Institute. It is also elating to be performing this role on the final lap of my Presidency, having served my mandate from June 14, 2013 with unrelenting support from our teeming members.

The choice of the Conference Theme: ‘Re-dimensioning the Insurance Industry Contributions to the National Economy’ is a clarion call for Insurance practitioners to re-tool their skills, knowledge, and expertise to engender greater relevance in the new scheme of things. The choice of the Conference theme is also borne out of our Institute’s commitment in providing ample opportunities for continuous professional education and the need to continuously engage insurance managers in the constructive revaluation of the contributions to the nations economy in the ever-dynamic business environment.

Distinguished colleagues, the contributions of our industry to the GDP must remain our collective concern. It is clearly illogical for our sector to remain an insignificant contributor to an economy that is now tagged the largest in Africa following the rebasing of the country’s Gross Domestic Product (GDP). Therefore the on-going process of transformation in the Agricultural, Power, Transport and Financial Services sectors, represent the most critical phase of nationhood and beckons on all segments of the economy including the insurance industry to be more responsive.

As an Institute, we have strived in the last one-year to reinforce the platforms for the promotion of an all-inclusive insurance education which involves widening the horizon of our members through appropriate learning experiences and the development of competences in the critical areas of Risk Management, Financial Inclusion and Good Corporate Governance which are essential for the growth of our industry. We have also been privileged to receive greater support and encouragement from the National Insurance Commission in the promotion of the strong benefits of financial inclusion products such as Micro insurance and Takaful Insurance for the benefit of our nation’s critical mass.

Similarly, our focus on the promotion of insurance education was extended to the secondary and tertiary institutions of learning, as a vital step in entrenching insurance in the consciousness of the emerging population as a worthwhile course of study and career path.

The foregoing informed the choice of the Conference sub-theme: Paradigm shifts in Insurance Education for greater relevance". No doubt, education is the bedrock for all human endeavours and remains critical for our own sector against the background of palpable public education gap and the less than optimal financial literacy index in our nation. The inclusion of insurance this year as one of the subjects, which were examined during the School Certificate examinations, is a welcome relief and a reinforcement of the inclusion of insurance in the curriculum of secondary education by the Federal Ministry of Education, four years ago. I am happy that, as an Institute, we were able to support this bold measure with the production of an Insurance Textbook for Senior Secondary Schools and therefore expect this to become a useful manual for insurance studies across Nigeria.

Distinguished delegates, we cannot overemphasize the value of this annual gathering for the exchange of views on the issues pertinent for our sector’s growth and development. I am therefore confident that as delegates, we will actively participate in the deliberations during the Conference, which incidentally coincide with our nation centennial. The country at this time expects so much from our expertise, especially in the face of the most challenging and unprecedented situations threatening the security of lives and property in our country.

Let me welcome our team of most endowed speakers whom we have taken off their very busy schedules to share their experiences with us. We are privileged to have our respected Past President, Sir Ogala Osoka, who, as you know, is Chairman of Enterprise Bank. Sir Osoka will chair the Round Table session to discuss the theme paper to be delivered by Mr. Kola Ayeye, a banker per excellence, former Managing Director of National Bank and now Executive Director of Mainstreet Bank. I must also welcome, specially Professor Sola Fajana, Vice Chancellor of Joseph Ayo Babalola University for his humility and love for sharing knowledge in a most outstanding manner. Our panel of discussants includes Dr. Biodun Adedipe, Mrs. Yetunde Ilori, Barrister Tola Adegbayi, and Mr. Tunji Oluyemi.

Before I take my seat, I wish to express the Governing Council sincere appreciation for your individual and collective efforts in ensuring that our Institute continues to grow from strength to strength. Your support has been fundamental to the successes we have recorded in recent past, and for the concrete evidence of developing strong legacies in the promotion of insurance education. For instance, the College of Insurance and Financial Management is becoming firmly rooted and represents a major leap in entrenching a world-class human capital development opportunities for the Industry workforce.

Let me at this juncture welcome Alhaji Muhammed Kari, Deputy Commissioner for Insurance, who is making his first vital public appearance since assuming office to our midst as a Special Guest of Honour. To many of us Alhaji Kari needs no further introduction.

Once again, I welcome you all to the 2014 Education Conference and wish you a rewarding experience.

Thank you for your attention.

FATAI KAYODE LAWAL, FCII, FIIN

President/Chairman of Council

Chartered Insurance Institute of Nigeria