The Resolution to establish an Insurance College was passed on the 16th of November, 2006 at the meeting of the Governing Council of the CIIN. This is in fulfilment of the statutory duty imposed on the CIIN to determine the knowledge and skill requirement of insurance professionals in Nigeria under the CIIN Charter of 2013. The College was also set up in response to the challenges of inadequate manpower in the Nigerian Insurance Industry (NII). Hence, the main objective for setting up the CIFM was to alleviate the challenges resulting from dearth of human capital which the Council identified as a major obstacle to the growth of the industry. The CIIN Council procured land for this purpose but the College commenced operations in 2010 under the Training Directorate at the CIIN Secretariat. On the 5th of January 2015 following the appointment of the pioneer Rector, Dr Yeside Oyetayo, (a former Head of Department of Insurance at Lagos State University) in 2014, the CIFM moved to it campus
“To become the Choice College of Insurance Training in Africa”
“To provide insurance training of global standards to meet industry’s requirement for today and tomorrow”
Intellectualism, Credibility and Professionalism
The main objective for which the College of Insurance and Financial Management was established is to provide long lasting solutions to manpower training and development problems of the insurance industry in Nigeria. Other objectives of the College include:
Continuous identification of the manpower needs of the Nigerian insurance industry and providing training in such areas.
To form a pool of experts, teachers and trainers at the national and international level for teaching risk management, insurance and financial management.
To develop and design various insurance training modules, books and course materials.
To conduct mandatory training programmes for various insurance industry personnel.
- To conduct short term training in insurance, financial management and related fields for personnel in the financial sector.
- To conduct diploma courses in insurance, financial management and risk management.
- To conduct seminars, symposiums, conferences and panel discussions on the financial industry especially the insurance sector.
- To contribute economically and socially to the economy through solution-focused research activities in collaboration with the industry, regulators, federal agencies and other institutions of higher learning in area of the insurance and financial management
- The publication of books, journals and magazines on insurance, risk management and financial management.
- To collaborate with the Chartered Insurance Institute (Lond.) and other insurance institutes internationally to fulfil the mission of the college.
- To develop a linkage programme that affords graduates from the college access to higher education in insurance locally and internationally.
- To promote the awareness of insurance practice and its benefits to socio-economic wellbeing through awareness seminars.
- To obtain membership of international associations like the Association of African Insurance Educators and Trainers (AAIET) and the Institute for Global Insurance Education (IGIE) to ensure that our training programs are of international standards.