The College of Insurance and Financial Management (CIFM), Lagos-Ibadan Expressway held the Sod Turning Ceremony of its proposed N310 million auditorium to boost infrastructure development.
Mr Eddie Efekoha, President, Chartered Insurance Institute of Nigeria (CIIN), at the ceremony, handed over the project to Acropolis Contractors for completion within the next 12 months.
Efekoha said that the institute would continue to invest in manpower development which is its core mandate to upgrade insurance practice and industry in Nigeria to meet up with global standard.
He urged the contractors to cooperate with the college during the course of the construction, to ensure timely completion of the project.
In his address, Mr Muftau Oyegunle, Chairman , Governing Council, CIFM said that the college had continued to make tremendous progress in terms of infrastructure development.
“Academically, we are forging ahead, and in terms of infrastructural development, we have continued to make progress,” he said.
Oyegunle commended the CIIN President for carrying out the project during his tenure and also investing in the college.
Mrs Yeside Oyetayo, Rector, said in an interview that the college was depending on a grant from the National Insurance Commission (NAICOM) and support from other sponsors to fund the project.
Oyetayo said that the 1,650-capacity auditorium was expected to be delivered in the next 12 months.
“The estimate amount for the project is about N310 million with consultancy fee and we expect that it will be delivered in 12 months.
“For now, we are relying on NAICOM grant to fund the project, while expecting that other sponsors would also come up to assist,” she said.