NAICOM License Micro Insurance Institutions to Boost Financial Inclusion
The National Insurance Commission (NAICOM), says that its reason for issuing operating licenses to micro insurance institutions was to ensure that Nigerians at the grass roots were not left out in the financial inclusion initiative of the federal government.
Mr Sunday Olorundare Thomas, the Commissioner for Insurance, stated this at the financial inclusion strategy conference organised by the Oriental News Nigeria, a Lagos based finance news online.
The conference was tagged, “Engaging with Critical Groups to Develop Effective Financial Inclusion Initiative.”
Represented by the Deputy Director/Head Corporate Communications & market Development NAICOM, Mr Rasaaq Salami, Thomas said micro insurance provided the leeway to protecting people’s property, safeguarding belongings from damages or loss and ensuring the insured did not suffer loss when the unexpected damage or loss occurs.
The Director General Securities and Exchange Commission (SEC), Lamido Yuguda stated his commitments towards ensuring that every segment of the society was covered in the ongoing financial inclusion initiative of the federal government.
Prof. Umar Danbatta, the Executive Vice Chairman, EVC, of the Nigerian Communications Commission (NCC), stated that the best approach towards benefitting from globalised digital economy was to be financially inclusive.
Executive Director, Centre for Citizens with Disability (CCD) David Anyaele however called on the federal government through the Central Bank of Nigeria (CBN) to expand the nation’s financial inclusion policy to include provisioning for the disabled people in the society.
Dr Uju Ogubunka, the conference Chairman, and CEO Bank Customers Association of Nigeria, stated that the financial inclusion policy of the federal government which commenced in 2012 was geared towards ensuring that no Nigerian was short changed in its financial intermediations policies and economic development plans.
