51st CIIN President Pledges Sustainable Legacy

Mr. Edwin Igbiti, the newly inaugurated President of Chartered Insurance Institute of Nigeria (CIIN) on Friday said he would focus on building a sustainable legacy during his tenure.

Igbiti made the pledge while delivering his acceptance speech at his investiture as the 51st President of the CIIN in Lagos.

He stated that the choice of the theme was borne out of the need for continuity, to sustain and build on the works of past presidents of the institute.

According to him, this will guarantee that in spite of current global uncertainties, the institute continues to meet the needs and aspirations of its members.

“Against this backdrop, my presidency would be focusing on a three-point agenda, namely: Digital Reinforcement of Institute’s Operation, Insurance Awareness For All-Grassroots, Youths and Insuring Public and Infrastructural Development,” he said.

Igbiti noted that he would facilitate the transformation of the CIIN Secretariat with state-of-the-art facilities that would stimulate digital operations and processes, enhance excellent work culture which resulted in quality customer experiences on all deliverables.

The CIIN president called for the support of stakeholders in the industry to help drive the industry to lofty heights.

He noted that following the socio-economic situation of the country and the need to curb the menace of insecurity, insurers must collaborate with all tiers of government.

Igbiti said this was with the aim of re-emphasising the essence of insurance as the infrastructural pillar for the growth and development of the country.

He appreciated sponsors of the ceremony, mentors in the industry, spiritual associates and most especially, the immediate past CIIN President, Dr Muftau Oyegunle for their support and contributions that led to his achievement.

In his welcome address, Oyegunle expressed delight that Igbiti, also a professional colleague and friend, succeeded him after two years of service as his Deputy President.

The immediate past CIIN president said Igbiti’s comradeship, understanding, professionalism and integrity made his administration a sensation and with good memories for the future.

“Igbiti is a tenacious and resilient leader and his reign will be beneficial to the institute.

“I can confidently say this because of his trajectory of success in various positions and capacities occupied in the industry.

“This office provides you another opportunity to employ your wealth of expertise to broaden the scope of the institute and contribute hugely to the growth of the insurance industry.

“As you embark upon your new responsibilities, I urge you not to rest on your oar, as the reward for success is more hard work, ” Oyegunle said.

In his remark, Chairman of the occasion, Dr Oladele Fajemirokun, congratulated Igbiti on his investiture as the president of the institute and promised to support him throughout his tenure.

Fajemirokun gave an assurance that Igbiti had the character, competence and experience to give progressive leadership to CIIN, having proven so while working at AIICO Insurance, specifically as its former Group Managing Director/Chief Executive Officer.

“It is most heartwarming for me that a person in the mould of Igbiti is taking over the mantle of leadership of the institute at this crucial period.

“We all know the pivotal position the institute occupies in the financial ecosystem and the economy of this country.

“There is no doubt that over the years, the institute has distinguished itself as one of the foremost professional bodies that has given cutting-edge training to insurance professionals.

“These professionals in turn are adding significant value, not only to the insurance industry, but the general financial ecosystem,” he said.

According to him, it was regrettable that the Nigerian insurance industry was still at the back waters of national economy, contributing a paltry one per cent to the Gross Domestic Product of the nation.

Fajemirokun highlighted some of the problems bordering the industry to include poor image, low public acceptance and inadequate professional training impacting on the quality of professional insurance practitioners who interface with members of the public.

He said: “Be that as it may, the industry has continued to make huge strides toward ensuring that this narrative is changed and permanently too.

“I must not miss to appreciate the dynamism that has been infused into the leadership of the institute since its inception.

“We have had 50 presidents and all of them without exception laid the moulding blocks upon which Igbiti is starting to build on as the 51st President.’’

July 16, 2022