By Esther Agbo
President/Chairman of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori, has urged stakeholders in the insurance sector to work together to advance the industry.
This call was made during her investiture as the 52nd president/chairman of CIIN in Lagos during the week.
The CIIN is a professional membership institute for the Nigerian insurance industry.
Ilori in her acceptance speech said, “Today as I willingly, without coercion accept to be the 52nd President of the Chartered Insurance Institute of Nigeria, the 8th woman to take on the role, I know expectations are high. I am going to have to compete with myself to surpass my achievements in my previous roles, especially as the director general of NIA.
“I am coming on board at a time when economically it looks like the world is coming down. We must come out of the economic crisis a better industry than we got in and there is real urgency to get this done.
“The industry in Nigeria has no semblance of what we have in some developed climes. I must say this is the third time in the last two decades that an enormous amount of money has been spent in charting a course to transform the industry. It is time to execute the strategy, we all (all arms) have put together, and it should not be wasted.
“It will be a shame to have someone from outside the industry come and fix our pieces together and give us the edifice we have always longed for. It is not a mere coincidence that I am appearing on the stage of life as part of the orchestra that will be playing for now. I love the scripture that says ‘A wise woman builds, As a woman, I believe I am created to build and by His grace, I will.”
At the event, the Commissioner for Insurance, Olusegun Omosehin, expressed his confidence in Ilori’s leadership.
He stated, “I’m optimistic and confident that under Mrs Ilori’s leadership. The Chartered Insurance Institute of Nigeria will continue to promote professionalism, uphold ethical standards, and foster educational development within the insurance industry.
“Leadership in the insurance sector is more critical now than ever before as we navigate a world of significant economic challenges and great opportunities.
“Hence, the insurance industry must continue to evolve and adapt to meet the changing dynamics of our society. Mrs Ilori’s leadership will play a pivotal role in driving this transformation, ensuring that the Institute remains a beacon of excellence and a catalyst for positive change.”
Omosehin also highlighted the National Insurance Commission’s (NAICOM) commitment to aligning the insurance sector with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the goal of growing Nigeria’s economy to $1 trillion by 2030.
“At NAICOM, we view the institute as one of our veritable partners in the development of the much-needed skilled professionals in the course of achieving this goal.”
In addition, the 51st president/chairman of CIIN, Edwin Igbiti, expressed his gratitude for the opportunity to serve, stating, “This role has been both a challenge and a privilege filled with moments that have reinforced my faith in the power of our collective ability.