The National Insurance Commission (NAICOM) said it has mapped out about N35 million as assistance to the Chukwuemeka Odumegwu Ojukwu University (COOU) for the establishment of an Insurance Department.
Mr Motajo Adewale, a Deputy Director at the Corporate Head Office, who led the team on a visit to the managment of the university, disclosed this at the Igbariam Campus of the university.
Adewale said that the Commission had agreed to endow a building at the university to enable it establish Insurance Programme at degree level. However, this will be accomplished when all stated requirements have been duly met by the University, he added.
NAICOM was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring effective administration, supervision, regulation and control of insurance business in Nigeria and protection of insurance policyholders, beneficiaries and third parties.
In a speech at the occasion, an elated Vice Chancellor of the university, Professor Greg Nwakobi, thanked the National Insurance Commission and promised to make judicious use of the money, when released. Prof Nwakobi commended Governor Willie Obiano for his tireless efforts to improve staff welfare and standard of the university, which he said had started yielding dividends.