NAICOM to fund insurance building in Uniuyo

The National Insurance Commission (NAICOM) is set to fund the construction of a building that will house the insurance department at the University of Uyo (Uniuyo), Akwa Ibom.

The Commissioner for Insurance and Chief Executive Officer of NAICON, Mr Sunday Thomas, revealed this in Abuja on Thursday after he signed a Memorandum of Understanding (MoU) with the Vice Chancellor (VC) of Uniuyo.

Mr Thomas said, “The commission will apply the proceeds of its education fund to provide financial assistance to tertiary institutions with a view to promoting insurance education and human capital development in Nigeria.”

He noted that insurance was a knowledge-based sector, hence the investments in education.

He emphasised the need for operators to develop products that would be able to meet the needs of the populace.

He said, “We need those who are cerebral to be able to reach out there and package things, products, and of course the starting point is to get the knowledge, that is why we are bending backwards to develop the minds that will be able to not only teach, because part of those who are going to be beneficiaries will remain in the institution to teach others, some are going to come into practice, they need that knowledge, that is why we have ventured into this.”

The VC of Uniuyo, Professor Nyaudoh Ndaeyo said NAICOM graciously offered the university “a helping hand by giving us a building. We are here to sign an MoU and to also show appreciation on our part because they have trained our staff beyond what we have shown to them.”