Oyefeso, Uranta honoured by West African Insurance Institute

The West African Insurance Institute (WAII), Banjul, The Gambia, has appointed Sakiru Oyefeso, managing director, Staco Insurance plc, as a member of its Governing Council. All the powers of the 31-year-old institute are vested in the 14-member Governing Council.

WAII is an insurance training centre with full diplomatic status, juridical personality and financial authority, which provides professional insurance education and allied courses to the personnel of insurance, financial industries and the public sector.

The institute, owned and established by the governments of the five Anglophone West African countries, with the support of the UNCTAD, serves as a centre for the collection of technical and other insurance data, provides technical assistance to member countries and organises research programmes and projects in all aspects of insurance, reinsurance and allied subjects.

Although WAII was established initially as an insurance institution to train middle level manpower for the insurance industry, the institute had expanded its frontiers to incorporate other courses like law, banking and other financial studies.

Similarly, arrangements are now being concluded towards transforming the institute into a full-fledged university, the arrangement was being made to forge partnership with the University of South Africa in actualising this goal before the target date of 2015.

Oyefeso graduated with distinction from the Department of Insurance from Lagos State College of Science and Technology, which is now Lagos State Polytechnic in 1983 and qualified as Chartered Insurer during his NYSC programme in 1984.

He is a seasoned insurance practitioner with more than 30 years experience in the industry.

Oyefeso started his insurance career at the National Insurance Corporation of Nigeria (NICON) in 1978 and since then, he has been active in the insurance sector.

He will forever be mentioned in the success story of organisations such as Leadway Assurance Company Limited, Financial Assurance Company Limited, and a host of others. This is because of his immense contributions to these organisations as an employee.

Justus Uranta

Justus Uranta, former managing director, Niger Insurance plc has been given an award by the West African Insurance Institute (WAII), Banjul, The Gambia, in recognition of his “exemplary and invaluable contributions to the development of the institute.”

Uranta, who was the vice chairman of WAII Governing Council from July 2010 to July 2013, was acknowledged as having rendered meritorious service to the institute during the three year period.

Specifically, it was during his tenure that the 35-year-old Institute commenced the construction of a huge amphitheater for classrooms and lecture halls which are now nearing completion, among other several milestones achieved.

It was also gathered that his tenure brought an increase in the number of student intake, facilitated increase in the number of lecturers, as well as led to an increase in the percentage of passes in both the school diploma and professional exams of London and Nigeria.

Besides, he was also said to be instrumental to the affiliation of WAII with other international academic bodies such as the University of South Africa.

Again, Uranta regularly contributed written articles to the WAII academic journal while serving on the institute board.

Uranta, who was the MD/CEO of Niger Insurance for seven years voluntarily resigned from the organisation in December 2012 after having spent 35 years in the Nigerian insurance industry.

He began his working career in 1977, as an assistant officer in the Federal Ministry of Trade. He joined Unity Life and Fire Insurance Company as an officer in 1978 and was with the organisation until 1980 when he proceeded to BCM Insurance Brokers Limited as a Marketing Manager between 1980 and 1981. From 1988 to 1990, he was the General Manager, Veritas Insurance Company Limited.

He was the AGM (Oil and Gas) Nicon Insurance Corporation 1990 to 1998, from where he joined Niger Insurance as an Executive Director (Technical) in 1998. He is also a council member, Chartered Insurance Institute of Nigeria; an alumnus Lagos Business School (Amp 2001); and a member of Vision 2020 Committee, (Insurance sector).