The Resolution to establish an Insurance College was passed on the 16th of November, 2006 at the meeting of the Governing Council of the CIIN. This is in fulfilment of the statutory duty imposed on the CIIN to determine the knowledge and skill requirement of insurance professionals in Nigeria under the CIIN Charter of 2013. The College was also set up in response to the challenges of inadequate manpower in the Nigerian Insurance Industry (NII). Hence, the main objective for setting up the CIFM was to alleviate the challenges resulting from dearth of human capital which the Council identified as a major obstacle to the growth of the industry. The CIIN Council procured land for this purpose but the College commenced operations in 2010 under the Training Directorate at the CIIN Secretariat. On the 5th of January 2015 following the appointment of the pioneer Rector, Dr Yeside Oyetayo, (a former Head of Department of Insurance at Lagos State University) in 2014, the CIFM moved to it campus