Yemisi Izuora
The Chartered Insurance Institute of Nigeria (CIIN) has pushed forward its insurance penetration strategy by engaging traders across Nigerian markets.
The Institute initiated the plan under its Insurance Week 2026 programme to establish the role of insurance as economic buffer for small business operators.
At the Moyosore market in Oshodi Lagos, the Institute’s team led by Dr. Yeside Oyetayo, a council member of the CIIN, while addressing market men and women, urged them to embrace insurance as it provides adequate protection for businesses and cover losses in terms of circumstances beyond their control.
Other insurance company representatives were also involved in the market insurance drive initiative.
The insurance companies who joined the Institute at market include, NEM Insurance, Noor Takaful and Enterprise Life.
Oyetayo, informed the women that the essence Insurance is to put money aside, saying they can still enjoy insurance while still alive, highlighting that under life insurance, education of their wards and family will go uninterrupted because they must have made provision for it.
She further explained to them that under General Insurance, they can secure their vehicles, shops, houses against fire or burglary as well as any other unforeseen misfortunes that might come, letting the market women know that insurance is a backup for them.
She said insurance would put the women back to the position they were before the incident happened to them so they would not feel the impact, adding that Noor Takaful is equally into Health Insurance, advising the women to key into it to live a life of quality.
Oriental News Nigeria reports that the second edition of the Chartered Insurance Institute of Nigeria (CIIN) Insurance Week took place from May 15 to May 22, 2026, themed “Insurance: A Future Redefined”. The week-long event featured a national awareness walk, hackathons, educational book launches for elementary students, and industry awards.
The landmark eight-day program featured several key events and highlights: