University community grown boy, Adepegba retirees from CIIN

Growing up in the midst of professors and academicians at the University Community of Ile-Ife, Adegboyega Adepegba, the retiring director general of the Chartered Insurance Institute of Nigeria (CIIN) had the ambition to become a university administrator, a plan that eventually followed his working career at the University of Ife, Ogun State University and finally at the insurance institute from which he is retiring.

Joining CIIN in 1990, Adepegba, a graduate of History and Law, has a master’s degree in Public Administration which culminated in shaping his professional career and administration while in the Insurance Institute.

A happy Adepegba could not remember anything he regrets not achieving as the Director General of the CIIN, as according to him he did all he had the opportunity to do. “When you have the opportunity to do something do it well. Make your mistakes and learn from it. I think I have done what I had the opportunity to do within the time I had.”

With two decades of working experience at the CIIN, the retiring DG had the opportunity to work with 16 presidents, and 6 of them while he was the Director General. “The experience was enormous, having to work under many bosses with entirely different ideas and believe, but I can say it was worthwhile and helping me was hard work and prayers, Adepegba stressed.

Adepegba who said his coming into CIIN in 1990 alongside other young men recruited at that time resulted in a major turnaround for the 54-years-old institute, further revealed that at the time, the institute had serious challenges of funding.

“Funding was a major challenge for the institute as that was not a place many people would like to work; but God helping us with the support of past presidents and the secretariat staff, the Institute started gaining momentum in terms of membership, activities and subscription. Again, our first N1 million subvention received from the Insurance Supervisory Board in 1991,” he explained.

According to him, “the Decree establishing CIIN accented by the President in 1993 was also a major boost to the growth of the Institute having made compulsory that anybody intending to practice insurance in Nigeria must be a member of the CIIN, and today the Institute is happier for it. I am looking forward to a situation where the industry as a whole sees the Institute as theirs, and give it all the necessary support it deserves.”

Leaving CIIN, Adepegba would want a secretariat staff that is well trained, exposed, given the opportunity and needed confidence to explore. Therefore the retiring DG is suggesting a five-year development plan that would look at training, staff welfare, job satisfaction and confidence building.

Where is Adepegba going from here? This is the question many are asking. Adepegba having been part of the insurance industry says he understands the challenges facing the insurance companies in the market.

This ranges from compliance with regulatory authorities and research.

“Given my background as a lawyer, I am going into corporate legal practice and my major clientele will be the insurance industry. I understand the gaps and some of my research work will help them.