As part of measures to enhance financial literacy, entrepreneurship and career development in the country, the National Insurance Commission (NAICOM) gone into collaboration with the Ministry of Youth Development.
Mr. Sunday Thomas, the Commissioner for Insurance and Chief Executive Officer of NAICOM, disclosed this when the Youth Development Minister of State, Mr. Ayodele Olawande, paid him a courtesy visit in his office, Abuja recently.
Thomas gave a brief history and overview of the Nigerian insurance industry, the administrative structure of the Commission as well as its achievements in the area of financial inclusion, transition to risk-based supervision and IFRS 17, setting up of the West African Insurance Supervisors Association and the College of Insurance Supervisors of the West African Monetary Zone.
On his part, the minister lauded NAICOM management for the warm reception.
He expressed his desires for the Ministry to collaborate with NAICOM in engaging the Nigerian youth formally and informally to develop their skills, adding that the Ministry had developed a digital platform called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.
He requested to collaborate with NAICOM in the building of insurance educational module to be uploaded on the NIYA platform as this will go a long way in training the youths and improve their level of financial literacy, help in entrepreneurship and job creation career development and sensitise youth on the benefits of insurances.
The CFI promised to convey the minister’s request to relevant parties (The Chartered Insurance Institute of Nigeria and the College of Insurance and Financial Management) within the Nigerian Insurance Industry.
