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NAICOM License Micro Insurance Institutions to Promotes Financial Inclusion

Experts Hinges Future of Insurance Sector on Sustainable Practice

Ebere Nwoji

The National Insurance Commission (NAICOM), has explained 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.

The Commissioner for Insurance, Mr Sunday Olorundare Thomas, 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.

Also speaking, 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.

The Executive Vice Chairman, EVC, of the Nigerian Communications Commission (NCC), Prof. Umar Dambatta, noted 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.

The conference Chairman, and CEO Bank Customers Association of Nigeria, Dr Uju Ogubunka, 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.

Odu’a Investments Holds 40th AGM Wednesday

The 40th Annual General Meeting of Odu’a Investment Company Limited (OICL) comes up on Wednesday, June 22, 2022 at Osun Hall of the Lagos Airport Hotel, Ikeja, Lagos.

According to a statement signed by Head Branding and Communications, Victor Ayetoro, the company at the meeting will be presenting the year 2021 Audited Financial Accounts as well as proposing the declaration of dividend to its shareholder states.

The meeting will also serve as an opportunity to provide an update on progress made towards repositioning the company as a world-class conglomerate as well as being an efficient engine of growth for the South-West region.

The six South-West shareholder states will be represented at the meeting by the Secretary to the State Governments (SSGs) of Oyo, Ondo, Ogun; Osun; Ekiti and Lagos States while the meeting will be chaired by Dr. Segun Aina, OFR, Chairman, Odu’a Investment Company Limited board.

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