US finance institute seeks partnership with NAICOM

Chuks Udo Okonta

 

The Managing Director/Chief Executive Officer (CEO) of the New York Institute of Finance, United States Patrick Fitzgerald and the Registrar of the Institute, Currie Marcia, yesterday, paid a working visit to the National Insurance Commission (NAICOM) Headquarters in Abuja to seek possible areas of collaborations and cooperation.  

The team who were accompanied on the visit by the immediate past President of Chartered Institute of Stockbrokers, Nigeria, Mike Itegboje, were welcomed by the Deputy Commissioner, Finance and Administration of the Commission George Onekhena.

Fitzgerald told the NAICOM team that they were in the Commission to seek collaborations with the commission in the areas of training and manpower development. According to him, students of the Institute turn out better informed, educated and connected at the end of each programme.

He noted that because participants in the Institute's training programmes come from diverse backgrounds, it gives them the opportunity to consummate cross-border relationships and contacts that are in most cases mutually beneficial to both the participants and their respective organisations.  

He stressed that the Commission will benefit immensely from the institute's hands-on/practical approach to learning, adding that the importance of insurance is growing at a great speed across the globe and thought Nigeria could take advantage of the institute's learning programmes to remain at the same level like its contemporaries in other jurisdictions.  

Onekhena, who briefed the visitors of the developments in the Commission and the industry, said the Commission is committed to training and development of its manpower as it is key to effective supervision of the insurance industry and alignment with international best practices.

He said the Commission is pleased to hear that the institute is focusing on Africa and assured the team of NAICOM's readiness to collaborate with the institute.  

He said: “The Commission will be interested in what kind of services you are ready to offer and how such services would impact positively on our operations. Of course we have needs to equip our staff with a lot of skills, especially in the areas of financial analysis which is very key to us and Risk Management. The learning needs in these areas are very huge so, we shall need as much assistance we could get."  

The New York Institute of Finance is the training arm/division of the New York Stock Exchange in the United States of America.