An insurance expert, Mr Mufutau Oyegunle, has commended the Chartered Insurance Institute of Nigeria (CIIN) for its effort to boost insurance education in the country’s institutions of higher learning.
Oyegunle gave the commendation in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos, while reacting to the institute’s plan to help in the establishment of an Insurance Department in Babcock University in Ogun.
Oyegunle, who is the Managing Director of LAKEG Insurance Consult Ltd, said that the President of CIIN, Mrs. Funmi Babington-Ashaye, made the promise when the council members of the university visited the institute’s secretariat in Lagos on Sept.7.
“The university council members was led by Deputy Vice-Chancellor, Management Services, Prof. Sunday Owolabi, and the visit was to fine-tune the plans on the creation of the department.’’ Oyegunle said.
He said many Nigerian youths lacked knowledge about insurance and its importance in all human endeavours, including business undertaking.
“This has manifested in poor patronage of insurance products by the public and the unwillingness to choose insurance as a course of study by the youths,’’ he said.
The expert said the institute’s plan to establish insurance department in institutions of higher learning that lacked it would improve the quality of manpower in the insurance sector.
He said having departments in the universities, polytechnics and the course taught at secondary schools would attract more youths to the industry.
“It would also combat misconceptions disrupting the growth of the industry in the country.’’
Oyegunle urged stakeholders in the industry to support CIIN in the propagation of insurance education for industrial growth and economic advancement.