The outgoing President/Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN), Mrs Yetunde Olubunmi Ilori, has reaffirmed a commitment to equipping one million Nigerian youths with insurance knowledge, declaring that the ambitious education initiative remains firmly on course despite prevailing economic challenges.

She explained that the programme is a fully digital initiative to educate one million Nigerian youths on insurance, describing it as a strategic intervention to improve insurance and financial literacy, deepen insurance penetration, expand industry participation and create employment opportunities for young Nigerians, nurture a new generation of insurance-conscious citizens capable of driving the industry’s long-term growth.

Addressing newsmen in a virtual platform, she assured that, despite bowing out of office, she will still contribute to the growth of insurance. This is even as she expressed optimism that her successor, Mr. Akinjide Orimolade, would run with the vision. “The initiative is being implemented in collaboration with the National Insurance Commission (NAICOM) and the Federal Ministry of Youth Development. We have laid the foundation, so I believe my successor has something to stand on.

“Education formed the foundation of her administration’s EPIC agenda and would remain central to the Institute’s long-term vision. This will young people to make informed financial decisions, pursue careers in the profession or become advocates of insurance”

Ilori stressed that the Institute has conscientiously shifted focus from only insurance practitioners to engaging educational institutions at different levels, youths and the wider public through various sensitization packages.

Among the initiatives, she highlighted, is the introduction of Insurance Week outreach programmes, university-led awareness campaigns, insurance hackathons and the publication of beginner-friendly insurance books for children and teenagers.

She revealed that CIIN partnered with NAICOM, the Federal Ministry of Youth Development and other institutions to expand financial literacy and improve employment opportunities through insurance education.

The outgoing president said the Institute also successfully lobbied for insurance to be included in national financial literacy programmes after engaging relevant government authorities.

Although the teaching of insurance in secondary schools has been suspended, Ilori expressed optimism that ongoing discussions with government and industry stakeholders would lead to its restoration.

She stressed that introducing insurance education at an early stage would help build a more financially literate society and improve insurance adoption across Nigeria.

Ilori further pointed to stronger industry collaboration during her tenure, citing joint engagements with the Nigerian Council of Registered Insurance Brokers (NCRIB), the Nigerian Insurers Association (NIA) and other stakeholders as evidence of a more united insurance industry. She urge insurance writers to continue in their good works for the benefit of Nigeria.

Meanwhile, stakeholders at her Valedictory ceremony applauded Ilori’s giant strides and urge Orimolade to do better in his tenure even as Nigerians yearn for a secured future. “Ilori has done well, we expect Orimolade to achieve more. Nigerians in a time like this are looking for a secured future, and it is we in insurance that will guarantee that assurance they yearn for” they unanimously charge.

…Stakeholders Applaud As Ilori Bows out

By Henry Uche