Chinedum Treasure
Federal Polytechnic Oko, Anambra state has won the Insurance Quiz competition organized by the Department of Banking and Finance, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka.
The Polytechnic beat Enugu State University of Science and Technology (ESUTH), Institute of Management and Technology (IMT) Enugu, Imo State University, Owerri as well as the host university to secure victory.
Other schools invited for the competition, namely Abia State University and Gregory University could not attend for obvious reasons.
Announcing the results after a keenly contested competition following a written examination, Prof. (Mrs.) Ifeoma Amakor said ESUT came second while IMT took the third position.
She announced the prizes presented to the winning institutions to include cash award of N300,000 for the first position while the second and third positions received N200,000 and N100,000 respectively.
She added that each participant in 4th and 5th positions received a cash award of N20,000.
According to Amakor, a Professor of Finance, the content of the quiz drawn from the new insurance act was targeted at exposing and educating the students on the content of the act.
“That is expected to further enlighten and inform the students on the practical aspect of insurance and obtainable in the field which may not be captured in the classroom.
“The quiz is actually aimed at educating the students, not necessarily a competition,” she added.
Earlier, Chairman of the occasion, Mazi Chijioke Nwafor encouraged the students to pursue professionalism in course of their studies so as to be skilful and employable on graduation.
“Insurance penetration in Nigeria today is about 0.4percent which means we still have 99.6percent chances in the Nigerian economy.
“But there’s hope; the market is there to explore; the future is brighter and insurance penetration will increase. It’s left for the younger generation to take advantage of detailed means of selling insurance introduced in the act,” he added.
Nwafor, an insurance veteran further advised the students to register for professional exams to enable them qualify as practicing insurers.
He also promised to introduce them to those who could be of assistance to them, just as he guaranteed them of gainful employment once they possess the qualifications.
“I’ve never seen anyone who is a professional insurer that’s looking for job. Just make sure you stay away from those vices that would tarnish the image of your family.
“Instead, concentrate on those virtues that will make your parents and sponsors proud of you rather than being disappointed,” he advised.
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