Chartered Insurance Institute of Nigeria inducts Associates, Fellows
Nike Popoola
In its bid to produce world class man power for the insurance industry, the Chartered Insurance Institute of Nigeria (CIIN) inducted 224 Assocaites and 24 Fellows at the Year 2025 Induction Ceremony held at the College of Insurance and Financial Management, Aseese, Ogun State.
CIIN President/Chairman of Council, Mrs. Yetunde Ilori charged newly inducted members to exhibit utmost professionalism in their dealings. She noted that insurance is a business of trust and so practitioners must be professional in transacting businesses.
Mrs. Ilori added that Fellows should know that the onus is on them to ensure they mentor the coming generations as they have been elevated. ‘Your status has changed, you are now Fellows, we must see that gap in your career. The young ones are watching you and they want to learn from you, mentor them diligently’ she submitted.
The Managing Director, Consolidated Hallmark Insurance Limited, Mrs. Mary Adeyanju, the Guest Speaker, called on newly inducted insurance professionals to embrace integrity, professionalism, and ethical stewardship as the foundation of their careers.
Addressing the gathering, Adeyanju described qualification as only the first step in a lifelong journey of responsibility.
She noted that while competence is essential, it is ethical discipline that ultimately sustains public trust in the insurance profession. “Qualification is a foundation, not a destination. Certificates do not automatically earn trust. Competence without ethics is like a car without brakes,” she stated.
Adeyanju highlighted key ethical issues affecting underwriting, claims and reinsurance ranging from rate cutting and misrepresentation to fraudulent claims and unreasonable denials. She stressed that the insurance industry loses credibility whenever professionals compromise fairness or transparency.
Speaking on regulatory reforms, she said the Nigerian Insurance Industry Reform Act (NIIRA) has transformed ethics from a moral expectation to a regulatory requirement. She explained that NIIRA strengthens solvency, enhances governance and demands responsible market conduct, making ethical non-compliance punishable by sanctions or license withdrawal.
Adeyanju also challenged industry practitioners to counter negative public perceptions that “insurance does not pay,” citing more than N1.03 trillion paid in genuine claims between 2022 and 2024. She urged professionals to actively share success stories, educate the public and leverage digital channels to rebuild confidence.
The best qualifying Associate, Miss. Oloye Olayemi of NEM insurance Plc gave the induction speech, celebrating the hard work of inductees and the sacrifices. She noted that the inductees will represent the Instittute and the insurance industry exceptionally.
Dignitaries at the even were Past Presidents of the Institute, Principal Officers of the Institute, Council Members of the Institute, Head of Industry Arms, MD/CEOs, Families and well wishers.
