Chairman of Punch Newspapers/non-executive Chairman, Continental Reinsurance, Chief Ajibola Ogunshola, was Thursday conferred with the prestigious fellowship award of the Chartered Insurance Institute of Nigeria (CIIN) in recognition of his valuable contributions to the growth of the institute and the insurance industry.
Ogunshola was among three members of the institute honoured with the fellowship award at the 2018 CIIN Induction ceremony in Lagos, with the theme: ‘The Insurance Industry and Professional Integrity”.
The institute also at the occasion inducted 138 mem be Associates, 207 Diploma awardees, and 500 Certificate awardees.
Ogunshola holds a Bachelor of Science (B.Sc. Hons) degree in Mathematics from the University of Ibadan in 1967.
He was the first black African to qualify as a Fellow of the Institute of Actuaries of England in 1973.
He was at various times Managing Director of Niger Insurance Ltd now Plc; Chairman, Committee of Actuaries, United Nations Pension Fund; Chairman of Alexander Forbes Consulting Actuaries; and President, Newspapers Proprietors’ Association and Foundation President of Nigeria Actuarial Society.
Ogunshola is also a Fellow of the Nigerian Mathematical Society; past Fellow of the Royal Statistical Society of England; and recipient of a D.Sc (honouris causa) in Management Science from the Olabisi Onabanjo University, Ogun State.
During his stint as the chairman of Punch, he was known to have brought new life into print medium.
In his acceptance speech, Ogunshola thanked the leadership of the institute for the honour.
“When you are honoured by your colleagues, the first thing that occurs to you is to remember all those you have studied and worked with,” he said.
He dedicated the award to all his professional colleagues. Ogunshola also wished the graduating students at the occasion well, adding: “I wish you well. You have started a special journey today, and at least one of you, possibly two or three, will become presidents of the institute one day. So all of you should try and achieve that.”
Earlier in his welcome address, the President and Chairman of Council, CIIN, Mr. Eddie Efekoka, congratulated the new associates and fellows and urged them to show greater commitment to the institute in the propagation of the insurance and all its offerings.
Efekoha, however, reminded his colleagues of the demands of the dynamic business environment and the role of technology in the current business trends.
“Consequently, there is a need to substantially adopt a creative approach to improving the skill set of insurance practitioners. There is considerable effort being put into constantly retooling the examination system through regular review of the syllabus and examination structure in order to make it relevant to addressing modern day business challenges.
“The goal is to ensure that Insurance practitioners retain the competitive edge and are well equipped to perform to optimal levels in order to tackle the current challenges in the business landscape and to stand out successfully,” he explained.