All about actuarial sciences, by experts
Actuarial science expert from University of Lagos, Prof. Ismaila Adeleke, says actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and industries.
Presenting his keynote speech, Prof. Adeleke emphasized the opportunities and benefits in the field of actuarial science.
The expert spoke at the advocacy outreach programme organized by ABU Actuarial Science Department in collaboration with Nigeria Actuarial Development Programme (NADP) and Financial Reporting Council of Nigeria (FRC) at Yusufu Bala Usman Hall, Main Campus, Zaria on Wednesday, 16th April, 2025
According to him, actuaries use mathematics statistics and financial theory to study uncertain future events, especially those of concern to insurance and pension programmes.
He also said the actuaries are expert in evaluating the likelihood of future events using numbers not crystal balls, as well as decreasing the impact of undesirable events that do occur.
Prof. Adeleke described actuaries as problem solvers and strategic thinkers, who use their mathematical skills to help measure the probability and risk of future events.
Also speaking, another actuarial science expert, Mr. Olasunkamni Ayinde, stated that Nigerian Actuarial Development Programme duty is aims to foster the growth of actuarial professionals in Nigeria and to create a sustainable pathway for developing local actuarial expertise.
Mr. Ayinde further stated that with NADP support students have access to huge opportunities, structural training and resources, access to latest publication and research material from leading actuarial bodies.
In his address, the Vice-Chancellor, Prof. Kabiru Bala, represented by the Dean of Management Sciences, Prof. Idris Ahmed Aliyu, described actuarial science as a unique profession and the best in the world. Adding that is a profession of great mind with a high rewarding career as well as development wise to excel in every given opportunity.
Prof. Bala thanked NADP and FRC for bringing the advocacy outreach programme to ABU and specifically charged the staff and students of the department to make better use of the opportunity.
Earlier in a welcome address, the Executive Secretary/CEO Financial Reporting Council of Nigeria, Dr. Rabiu Olowo, stated that FRC is committed to upholding accountability, transparency and financial stability in financial reporting and corporate governance.
“As the conscience of regulatory assurance, FRC actively collaborates with stakeholders academic institutes and industry leaders to elevate the actuarial profession in Nigeria through strategic partnerships.
“We aim to enhance financial reporting integrity, reliability and development of the Nigeria economy”, Olowo said.
In her address, the Head, Department of Actuarial Sciences, Dr. Halima Sani Sambo, described the outreach advocacy as a stepping stone to the profession.
She then appreciated the Vice-Chancellor for his tireless contribution towards advancing and promoting the Department.
Awards were presented to selected personalities in recognition of their tremendous support and dedication.
…………………
Public Affairs Directorate,
Office of the Vice-Chancellor,
Ahmadu Bello University, Zaria
(NAM)
Thursday, 17th April, 2025
