Category: ciin-editorials

Being text of acceptance speech by Sir. M.O. Oyegunle on the occasion of his
Investiture as the 50 th President and Chairman of Council of the Chartered
Insurance Institute of Nigeria on Tuesday July 21, 2020 at Civic Centre Hotel,
Victoria Island, Lagos.

Protocols

I give glory to God Almighty for his mercies. I thank Him for being there with me all through my journey in life. Let me acknowledge that being here today is not by my power or might but by His grace. I cannot thank him enough for His priceless blessings.

I have had many occasions in my life to give thanks to God for various reasons. Today I invite you to join me in praising God Almighty for the privilege of becoming the 50^th President of the Chartered Insurance Institute of Nigeria. Today will remain a watershed in my life. A day that testify to the trust and confidence my Professional colleagues and elders in the industry have in my ability to sustain the good work of my predecessors and the aspiration of the founding fathers.

I salute the past Presidents for their pioneering roles and look forward to sharing your experiences. I pray for the repose of the souls of the departed and wish those who are still with us long life in good health.

My journey through life to where I am today has been eventful with many people playing one role or the other.

I cannot be thankful enough to my parents, Late Alhaji Oseni Taiwo Oyegunle and Alhaja Silifatu Adesola Oyegunle who did everything parents would do to make their children live better lives than they did. I have continued to cherish their sacrifices, and I am sure that they will be happy that their efforts and investments in me have not been in vain. I remember them every day in all I do and continue to pray for the repose of my father’s soul and long life in good health for my mother.

I also wish to state that I owe immense gratitude to the Odukale family for being my route to the Insurance Industry. In particular, I am grateful to Papa Sir. Hassan Olusola Odukale who by providence set me on the path of my journey to and through the Insurance Industry.

The decision of Papa to take me in as one of his own opened a new chapter in my life. He took me to the Insurance Industry and linked me with the Insurance Institute. That move by Papa is the reason for my being here today as the 50^th President of the Institute.

While I pray for the repose of the soul of Papa Odukale, I cannot but thank his successors, from Mr. Oye Hassan – Odukale to Mr. Tunde Hassan-Odukale and every member of the Leadway family.

I appreciate the Leadway family for being

my pillar of support even after the demise of papa. I cannot thank Papa Sir. Hassan Olusola Odukale and everyone in the Leadway family enough.

I graduated from University of Ibadan in 1982 with BSC (Hons) Sociology. I did not have Insurance in my radar while in school and after. I had a teaching career until 1985. My journey through the Insurance terrain was initiated by my mentor Papa Sir. Hassan Olusola Odukale who took me in at Leadway Insurance in 1985. This opportunity of a new life in a new field propelled me to seek for professional qualification. My election as an Associate of the Chartered Insurance Institute, United Kingdom in 1990 marked the beginning of my professional journey.

I am aware of the challenges this office places on me especially at a time like this when the world is being ravaged by the Covid-19 pandemic. We are not unaware of the drastic disruptions of the Socioeconomic order in the world. However, I am driven by our traditional collective efforts which is built on our strong resolve to see that the vision of our founding fathers shall not be in vain.

Although we are at the mercy of Covid-19 pandemic, we cannot surrender to it. As an Institute, we shall continue in our stride to achieve desired results. However, we must adapt our strategies and change our ways of doing things.

I have come at a time we need to change our strategies to the new normal. Our reactions to these disruptions will determine our position today and in the future. These disruptions are here and it has come with new challenges that call for the reinforcement of our professional calling.

Current development in the world call for our collaborative efforts to reinforce professionalism. The Nigerian economy in general and the Insurance Industry is not immune from the vagaries of the social and economic disruptions caused by the pandemic. The resultant harsh business environment has become a threat which we must collectively confront for survival.

The theme of my presidency is therefore borne out of the conviction that we can achieve greater successes for our industry and profession if we reinforce professionalism and ethics in reaction to the new order.

The theme and focus of my tenure will be REINFORCING PROFESSIONALISM AND ETHICS IN THE NEW ORDER. The choice of the theme is borne out of the need to establish a rolling plan which will guarantee that even in the face of current global uncertainties, the Institute will continue to meet the needs of members.

Against this background, we are going to explore the potentials of this approach by focusing on a six point agenda.

1. Digital Transformation of the Institute.

2. Reinforcement of the Relevance of Professionalism.

3. Re-energizing the Institute’s Administrative Structure.

4. Insurance Awareness and Youth Mentorship Initiatives.

5. Infrastructural Development.

6. Advocacy and Collaboration with various Associations in the Private Sector.

The special circumstance of today’s ceremony will not allow me to go into the full details of the six points agenda. This will be done in my conversation with the members immediately after this event. The summary of my action plan is therefore presented as follows,

1. Digital Transformation of the Institute:

a.Completion of the Institute’s computerization projects.

b. Continuation of the E-library project.

c. Commencement of E-Examinations.

2. Reinforcement of the Relevance of Professionalism:

a.Survey and Bridging the Gap of the Technical Skills of Insurance Professionals.

b. Harnessing the Knowledge of Insurance Senior Professionals.

c. Commencement of Technical Research for the Insurance Industry.

3. Re-energizing the Institute’s Administrative Structure:

a.Collation of the Regulations and Procedures of the Governing Council.

b. Realignment of the Committees of the Council and their Functions

c. Manpower Review and Training.

d. Setting new Service Delivery Benchmarks.

4. Insurance Awareness and Youth Mentorship Initiatives:

a.Upscaling Distribution of Insurance Textbooks to Secondary Schools.

b. Donation of Insurance Course books to Insurance Department in Tertiary Institutions.

c. Consolidating Youth Empowerment and Mentorship Initiatives.

5. Infrastructural Development:

a. Completion of the College of Insurance and Financial Management’s Auditorium.

b. Moving the Victoria Island Project to habitable stage.

6. Advocacy and Collaboration with various Associations in the Private Sector:

However, I deem it proper to highlight our plan in the area of digital transformation. Efforts have been made by Past Presidents to transform

operations at the Institute. The fallout of the Covid-19 pandemic has made it imperative to build on past efforts in order to remain relevant.

The programme will be pursued to create new operation process and work culture at the Secretariat. This will be with a view to create a new customer experience. This Programme will be pursued to lay the required base for the continued relevance of the Secretariat in the new order. This is what we need to do to change our Customers experiences, operational processes and business model.

Distinguished members and guests the programmes we have put in place required investment to actualize them. I want to use this opportunity to solicit for financial support from Industry stakeholders and friends to change the face of the Institute in this era of a new normal. Please oblige us when we approach you for support.

The current developments in the world at large and in Nigeria in particular call for our collaboration to reposition the profession and the Industry. This we all have to do to remain in business.

Ladies and Gentlemen, I cannot conclude this speech without mentioning the state of our dear country, Nigeria. We are witnessing worst cases of socio-economic crises precipitated by terrorism, communal clashes and Covid-19 pandemic. This is the time to rally round governments at all levels in their responses to these challenges.

Distinguished Colleagues, the task ahead is our task and together we shall achieve the desired goals. My acceptance of the mantle of leadership is because I am committed to providing the right leadership. I pledge to be fully committed and plead for your support.

Let me end by expressing my profound gratitude to the Commissioner for Insurance, Past Presidents and other members of the Governing Council and all categories of members of the Institute.

I wish to thank my Investiture Committee Chaired by Mrs. Funmi Babington-Ashaye and everybody that have contributed to the success of this ceremony.

My sincere appreciation also goes to my jewel of inestimable value, my dear wife and my children all of whom are part of the reasons why I am who I am. Thank you for your understanding.

I thank you all for finding the time to attend this Ceremony either physically or virtually.

Thank you and God bless you all.

Sir. M.O. Oyegunle

President and Chairman of Council

On July 25, 2017, Mrs. Funmi Babington Ashaye FCII, FIIN formally assumed the leadership of the Chartered Insurance Institute of Nigeria, CIIN at the colorful and historic ceremony witnessed by the Commissioner for Insurance, Past Presidents of the CIIN and numerous captains of the Nigerian Isurance Industry.

Mrs. Babington Ashaye who by virtue of her investiture became the 6th female President and Chairman of Council of the oldest Professional Body in Nigeria and promised in her acceptance speech to raise the profile of the profession through education and enlightenment.

The Chartered Insurance Institute of Nigeria (CIIN) and the University of Lagos (UNILAG) have commenced discussions on the possibility of both institutions alongside other collaborators to put in place programmes on insurance and risk management.

This proposed partnership will enable the institutions exchange programmes and recognise certifications of members as well as produce well grounded students in academics and professionalism.

The institutions involved in partnership, designed to be in five pillars are University of Lagos, the Chartered Insurance Institute of Nigeria, College of Insurance and Financial Management Services, as well as other foreign institutions.

CIIN President, Funmi Babington-Ashaye, said she made the partnership request during a recent courtesy visit to the office of the Vice Chancellor of the University of Lagos, Professor Rahmon Ade Bello.

Babington-Ashaye said the partnership, when consummated, would deliver great value to the insurance industry and all the parties involved, as well as impact positively on the output of the different institutions.

“The partnership will enable provision of professional guidance to the thousands of underprepared students every year, to ensure their success and relevance to industries and employment sector”, she said.

Receiving the CIIN delegation, Ade Bello congratulated Babington-Ashaye on her recent investiture as the new President of the institute, stating that UNILAG, was not unaware of her unwavering commitment to the development of education system in Nigeria through scholarship for students of the University.

“We are poised to support and collaborate with educational and professional bodies as long as they seek to add value to what we do as an institution of learning”, he added.

Bello applauded the initiative, saying it would create additional value for participating institutions and the economy as a whole and therefore mandated the office of the Deputy Vice Chancellor –

Development Services to work with the CIIN team to come up with a working document on the proposed partnership.

Post appeared first on ThisDayLive

Part of our goals for the year 2017 was to come up with a website redesign that represents all that Chartered Insurance Institute of Nigeria (CIIN) stands for. Yesterday, we launched our newly redesigned website at www.ciinigeria.com. It was exciting for us spending a good portion of the year working on it. Our goal is to create a website that provides engaging content and resources to meet the needs of our current and prospective members.

Over the past year we have really done a lot to build our organisation. We’ve continued to develop on our excellent role in the insurance industry and believe the redesign will reinforce our position as a thought leader in the insurance sector.

We’ve learned a lot in the past years and have now added a significant amount of content to our website. We now have different resources from information related to the insurance industry, upcoming events, recent happenings within the insurance sector and membership details. The design and interface is much more sophisticated and represents our organisational philosophy.

We are hopeful that our new site will be a valuable tool for the industry, our current and prospective member base. We welcome any feedback you may have and encourage people to use it as a credible resource for all insurance related topics.

Please make sure to follow us on the below social mediums in order to keep updated with CIIN announcements. On this publication, you should look out for more articles on the features of the newly redesigned website. To make enquiries, you can make use of our our newly launched Enquiry system www.ciinigeria.org/contact.

Email: info@ciinigeria.org

Twitter: https://www.twitter.com/ciinigeria

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THE 49TH PRESIDENT OF CHARTERED INSURANCE INSTITUTE OF NIGERIA ON THE 24TH OF JULY, 2018.

This is one special moment in my life, a rare occasion and the manifestation of
the grace of God. I therefore cannot thank Him enough for all He has done for
me. To me, He has been the beginning and the end, the Alpha and the Omega,
my provider and defence at all times, the all that I need, the all that I want, the one that is worthy of all praise. To Him alone be all the glory, honour and
adoration for ever and ever, Amen.

I am honoured and humbled to be elected as the 49th President of the Chartered Insurance Institute of Nigeria by the Governing Council and confirmed by
members at the Annual General Meeting of our Institute held on 18th July, 2018 at the Oriental Hotel, Lekki, Lagos. This is a great honour and expression of trust by the members of the Governing Council in particular and all the members of the Institute as a whole. As I stand before you I pledge that I will serve the Institute to the best of my ability and to your delight.

Distinguished members of the Governing Council, our revered Elders and
guests, your presence here to witness my investiture as the 49th President of the Institute is most appreciated. I cannot thank you enough for this expression of love.

Unlike many of my professional colleagues, I will say my incursion into the
Insurance profession was by divine providence. Until my citation was aired a
while ago not many knew that my original desire was to become an
Accountant, a desire which propelled me to study for a first degree in
accounting at the University of Lagos on part-time basis whilst at the same time pursuing professional accountancy certification with the Institute of Certified Accountants UK. This awesome God that we serve and who then knew my tomorrow changed my course of study from part-time Accounting to full-time Insurance midway. The rest is history. Importantly, I have never for once had cause to regret this decision.

In my over three decades in the Insurance Industry, I passed through many
companies as listed in my citation and I have had the privilege of being given
opportunities, encouraged and guided to the path of success by so many people too numerous to recall here. (RECALL: Amos Adeyeye, Joe Madukwe) I am most grateful to you all. It is my prayer that God will reward you according to your heart desires.

The Institute, which was established on the 25th of August, 1959, the same year and month that I was born, has grown steadily and achieved significant
milestones as the educational arm of the Insurance Industry. It therefore
behooves on me to appreciate those who planted the seed, those who nurtured it and the latter generation of professionals who kept the flag flying high. To those who have departed, I pray for the repose of their souls. To the pacesetters who are alive, I pray that God continues to bless you with good health and many more years in the service of the Institute and humanity.

I wish to applaud in particular, the wonderful performance of our immediate
Past President, Mrs. Funmi Babington-Ashaye. Her tenure was packed full of
activities and she delivered on all fronts. Once again, Funmi has proven that it
is not by how long but how well. Hence many have described her tenure as 5
in 1 i.e. five years achievements in one year! Well done my dear friend and
colleague and I am most certain that the Institute will forever remember you
for good.

To be elected the President of a Professional body is indeed a privilege which
only few people experience. I therefore understand that while accepting the
honour, I owe a duty to God and you, my professional colleagues, not only to
sustain all past achievements but to ensure the relevance of the Institute to the current realities of our Industry and country. Distinguished Ladies and Gentlemen, Corporate Governance, the quality and quantity of our Human Resources are major issues we must continue to address in order to keep our industry relevant. We are conscious of the statutory role of the Institute as the educational arm of the Industry. We have been guided by this fact to arrive at the theme of my presidency which will focus on education and professional development. It is against this background that I have chosen to make ADVANCING INSURANCE EDUCATION AND PROFESSIONALISM the theme of my tenure.

The programmes to be executed under this theme have been carefully selected while being guided by the doctrine of continuity which was institutionalized by my good friend and brother, Past President Bola Temowo. This entails concluding on-going positive projects and policies by successive leaderships in addition to embarking on new projects and plans.

In advancing Insurance education and professionalism, the following projects
will receive my attention. The details of the projects have been documented, but a summary will be appropriate for this gathering:

1 Infrastructural Development at the College of Insurance:
The Institute has achieved so much infrastructural development at the
College of Insurance and Financial Management Studies within a short time. We have to sustain the tempo to make the College the pride of our efforts. It is against this background that we have chosen to commence work on the construction of the Auditorium, complete on-going development of the sporting facilities and furnishing of the Rector’s lodge. These will be the major projects at the College during my tenure, while not neglecting all other areas of need. I cannot but appreciate all Insurance Institutions, Professionals and friends that already have sponsored projects with their names on the Campus. Future generations of practitioners will appreciate your being part of those who gave them a better tomorrow. We shall deploy available resources to make it a reality and also reach out to others to buy into this project.

2 Advancing Insurance Education:
This will be achieved through the following:

• Making the Chartered Insurance Institute of Nigeria Examination more
  accessible and affordable for students
• Promoting the emergence of a new generation of Insurance
  professionals
• Reviewing the Insurance Textbook for Secondary Schools
• Institution of Best Graduating Insurance students Awards in accredited
  Institutions
• Equipping accredited Insurance Departments in Tertiary Institutions
• Re-invigorating and continuing existing programmes on Insurance
  Awareness
• Accreditation and establishment of new Insurance Programmes/
  Department in Tertiary Institutions in Nigeria e.g. University of Lagos –
  MSC Risk Management, B.Sc. Insurance in Babcock University,
  University of Jos amongst others.
• Insurance Lectures & Workshops

3 Professional Development

• Collaboration with National Insurance Commission and other arms of the
  Industry to enhance post-qualification development of practitioners.
• Continuous development of the manpower, process and physical
  structure of our Institute to ensure we are responsive and efficient.
• Sustain established working relationship with the CII London.
• Standardisation of Insurance Agents Certification
• Introduction of single subjects’ examinations in special areas of practice
  to meet the needs of the Industry. This includes Life, Oil and Gas.
• Replication of MCPD programmes in other chapters of the Institute.
• Society of Fellows’ Evening
• International Exchange Programme
• Sustaining the Elders’ Forum.

All the above shall be reduced to specific goals and targets with time frames to
be pursued vigorously within the next one year.

CONCLUSION
Distinguished guests, professional colleagues, ladies and gentlemen, in
concluding this speech, permit me to reiterate that as I answer the call to duty
in the service of our Institute, I shall continually uphold the mandate of my oath of allegiance and pledge to serve the Institute selflessly and protect its interest at all times.

Let me at this juncture express my appreciation in particular to the Chairman
of this occasion, Prof. Bruce Onobrakpeya, the Commissioner for Insurance,
Alhaji Mohammed Kari, and Management staff of NAICOM, Elders of our
industry, past presidents and council members of Institute, Presidents of Trade bodies in the insurance industry, NIA, NCRIB and ILAN, MDs and Senior management of Insurance Institutions, our distinguished colleagues, friends and relations who came from far and near to witness my swearing-in as the 49th President of our Institute.

To all who contributed to the documentary on me, I want to say a big thank you for your kind words. I am immensely grateful to the Board and Management of CHI Plc for supporting me in my desire to give back to this industry that has given me so much over the years.

To my Investiture Planning Committee ably led by my good friend, brother and past president of the Institute, Mr. Sunny Adeda, and supported past president Bola Temowo, Mrs Yetunde Ilori, Alhaji Saheed Egbeyemi, Mr Segun Omosehin, Sir M O Oyegunle, Mr Bode Opadokun, Mrs Joyce Ojemudia, Mrs Dotun Adeogun, Mr Roland Okoro, Our DG and Staff of the CIIN Secretariat. I am grateful for their tireless efforts at ensuring that this event is successful.

I also thank the gentlemen of the press who are well represented here, for the
good publicity given to today’s epoch event and industry programme.

To my mother who could not be present with us today on account of age, my
brothers, uncles, aunties, nephews and nieces, thank you for bringing me to this world and helping to nurture me to who I have become.

To you my lovely girls, Ejiro, Tejiri and Avwerosuo I am grateful to God for
having you as my children and I thank you for your kind wishes collectively
delivered by Ejis. Just remember that we are on this journey together and I trust you will stand up always to be counted.

To my darling and ever supportive Oghenenyoreh, For 28 years and still
counting by the grace of God, you have been my wife, given me three lovely
girls, cared for me, prayed ceaselessly for my success and wished that I attain
the pinnacle of my career like no one else has done or will do. All these years
you tolerated and managed my absence both at home and beyond to the extent of earning the title of Family Liaison Director. How can I thank you enough as another of your prayer point is being answered today?

Finally, I thank you all for your attention and also for sparing the time off your
very busy schedules to honour me and our Institute at this investiture dinner.
Do enjoy the rest of the evening with us and God bless you all.

Eddie A. Efekoha
President and Chairman of Council
Chartered Insurance Institute of Nigeria