By Sola Alabadan
The Actuarial Capacity Development Programme being organised by the National Insurance Commission (NAICOM) in collaboration with the College of Insurance and Financial Management (CIFM), is expected to develop 100 Certified Actuarial Analysts and possibly a minimum of five Actuaries in Nigeria by the year 2024.
The Commissioner for Insurance, NAICOM, Sunday Thomas, stated this while commissioning the 1,500 seating capacity multipurpose auditorium of the CIFM in Lagos.
He said the Actuarial Capacity Development Programme is an important component of the Commission’s strategic focus on capacity development.
Thomas also disclosed that the Commission is equally internalising the human capital development initiative through the effective plan of action for the takeoff of its academy.
He further informed that the commission would soon be requesting for assistance of erudite scholars in the industry to fill the identified knowledge gaps in the regulatory system.
Speaking on the new auditorium tagged ‘NAICOM HALL’, the NAICOM boss congratulated the nation’s insurance operators and urged them not to relent in their drive to attract further development to the College, saying “This is a commendable feat and I hope it sets the stage for more developments in the sector.”
He further appealed to the insurance operators to assist in the eventual completion of the CIIN office building in Victoria Island, the foundation of which was laid over 30 years ago, pointing out that” The same commitment that delivered the College with its infrastructure can do it.”
“The ceremony today is the outcome of a carefully thought-out need of the College by the CIIN with the financial support of the Commission.
“NAICOM is thus elated at its completion and the expected service it will deliver to the industry and the public. The auditorium will facilitate the mass quality training of insurance professionals/agents and as well
provide adequate facility for conducting the CIIN professional examinations. “Beyond this, it is imperative to say that some of the insurance gatherings may just have found a permanent and convenient venue.
“Ladies and gentlemen, the completion of this 1,500 seating capacity multipurpose auditorium will undoubtedly be a value-addition not only to the College but the entire insurance sector of the Nigerian economy. It is our firm believe that you will put this infrastructure to good use for the benefit of all stakeholders. I am almost certain that other sectors and institutions will also make use of this facility whenever occasion demands,” he said.
While acknowledging the support of the Governing Board of NAICOM in the pursuit of all its initiatives including the completion of this Auditorium, he assured that the Commission will, at all-times, extend its full support to, not only the College and the CIIN but all deserving stakeholders in the industry in their drive for insurance business growth and development.
Thomas maintained that the Commission is open to new ideas and shall continue to introduce new reforms and initiatives in line with international best practices that will strengthen our institutions.
