The President of the Chartered Insurance Institute of Nigeria (CIIN), Edwin Igbiti, has stressed the need for cooperative society and club members to embrace insurance to mitigate losses in the event of a crisis in their operations.
He said insurance is the catalyst for economic growth and that the government needs to leverage it to derisk the economy. Igbiti stated this in Lagos at the fundraising and investiture ceremony of the 46th President of Yaba Lions Club, District 404-A3.
Igbiti explained that insurance is to facilitate investment and encourage continuity in business. He further explained that insurance facilitates entrepreneurs and enables the businessman to face his business while it leaves the subject matter of risk for guidance from the insurance companies.
“Risk occurs, and when it occurs, we all should strive for business continuity,” he said. The newly installed President Mr. Ogbuefi Mike Nwabudike called for financial support to tackle some societal problems.
He noted that the club is passionate about issues of diabetes, hunger, cancer, sight care, job employment, and humanitarian efforts. Nwabudike said: “I humbly implore you all to support us financially to overcome these overwhelming cases facing our communities.” He therefore called on the government to create job opportunities for the youths noting that when people earn an income, it improves the standard of living.
