By Ikeoye Oyetoro
The Chartered Insurance Institute of Nigeria (CIIN) has concluded plans to commence construction work on the site of its College of Insurance and Financial Management, located at kilometer40 on the Lagos-Ibadan expressway.

Governing Council of the Institute on Tuesday 1st February, 2011 signed a contract agreement to commence the first phase of the construction work with Schematics Development Group, a firm of Architects, Engineers and Design Consultants.

At the signing ceremony hosted by Mr. Sunny Adeda, President and Chairman of the CIIN Governing Council, the Partners of the firm, Arch Lanre Adekambi and Arch Theophilus Ojie assured that they were committed to delivering on the terms and agreements of the 6- month contract comprising the building of the College Administrative Block and Lecture Theatres. The three – floor building, according to them, will be finished and delivered in record time.

The college site was on Wednesday 2nd February, 2011 handed over to the contractors, an exercise which precedes the Foundation stone laying stated for Thursday 10th February, 2011. Director General of CIIN, Mr. Adegboyega Adepegba who supervised the hand – over ceremony, said it was gratifying to be part of the epoch – making event stating that it had become apparent that the College project would be actualized in no distant time.

Adepegba further said that the Governing Board of the College, chaired by Dr Wole Adetimehin, was committed to the project and had meticulously guided the preparations in the positive direction.

The CIIN DG commended the initiative of the College Board in adopting the phased construction of the project, a measure which not only guarantees success but also ensures that the Institute does not bite more that it could chew.

President of CIIN, Mr. Sunny Adeda, who also chaired the College Board as Deputy President, of the institute, spoke eloquently of the objectives for establishing the College of Insurance and Financial Management.

He stated that the college engendered the provision of a long lasting solution to the manpower training and development problem of the insurance industry in Nigeria. According to Adeda, no effort could be too much in ensuring that the industry human resource gets all they require for skills and talent development and regeneration

He said other objectives of the College, are to provide qualitative education for persons engaged in the practice of insurance and allied services throughout Nigeria and to provide consultancy services in the field of insurance and financial services for the industry in particular and the financial services sector of the economy in general.

Other oblectives according to him are to undertake research in all aspects of insurance and allied subjects relevant to the economic development of the nation and to collect and analyze relevant data on the insurance industry, maintain a database and provide information on all aspects of insurance for public use.

The objectives of the college are also to constitute a research platform for determining the industry’s manpower needs from time to time, and to benchmark international standards in insurance and financial management education with a view to making the College a centre of Educational Excellence, globally.

Meanwhile, a cross – section of insurance practitioners, comprising chief executives and top echelon executives, have been invited to the foundation stone laying ceremony.