Friday, 31 July 2015

ADDRESS BY THE COMMISSIONER FOR INSURANCE, MR FOLA DANIEL AT THE COMMISSIONING OF CIIN INSURANCE COLLEGE ON THURSDAY, JULY 30,2015

PROTOCOL, 
Distinguished Ladies and Gentlemen, we are gathered here today to witness 
the official opening of the Centre for Insurance and Financial Management 
Studies (CIFMS). I am glad to be a part of this history and want to seize the 
opportunity to commend the President, Governing Council and staff of the 
Chartered Insurance Institute of Nigeria (CIIN) for this laudable achievement
Indeed, today's event marks a watershed in the history of not just the 
Institute but the entire insurance sector
This landmark accomplishment 
symbolizes growth and key to future accomplishmenl 
The CIFMS is a value addition to the quest to better position the CIIN in the 
industry and, herald a new era of improvement on services rendered by the 
institute not only for its future growth
but more importantly, for the growth 
and development of the Nigerian insurance sector practitioners. 
As the education arm of the industry, this is certainly a step in the right 
direction towards the attainment of the C
I
IN mandate which is to breed and 
certify insurance professionals in the country, a pre-requisite for individuals 
to qualify as insurance practitioners. 
Let me advise that as you bask in the euphoria of this accomplishment, you 
should not lose sight and focus of the big task ahead. The knowledge gap in 
the industry remains high just as professional indiscipline. This is 
unacceptable. It calls for all hands to be on deck if we are to attain the 
professional height and standards we all crave to enable the industry 
occupies its rightful position in the fore front of financial services sector. 
As a prudential regulator, the quality of and technical capacity of insurance 
practitioners in the country is a major concern to the Commission. We will 
continue to support efforts at ridding the profession of indiscipline while 
entrenching a culture of professional discipline and adherence to rules and 
ethical standards. 
It is our desire in NAICOM to superintend over an insurance industry that is 
flourishing, financially strong and viable but with the right mix of 
professionals. 
Once again, I congratulate the CIIN and the insurance industry for this 
landmark achievement
On this note, I officially declare this Centre open to the glory of God and 
benefit of all stakeholders. 
Thank you. 
Fola Daniel 
Commissioner for Insurance

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