Federal Ministry of Youth Development has commenced discussion with the National Insurance Commission (NAICOM) to include an insurance module.
on the youth academy application to advance youth development initiatives.
This a one of the collaboration opportunities the ministry is proposing to the commission and other areas include financial literacy, entrepreneurship, and career development.
These ideas top agenda at last week’s meeting between the Minister of State, Ayodele Olawande, and Commissioner for Insurance, Sunday Thomas.
The ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills, and Olawande wants the NAICOM to engage the Nigerian youth formally and informally through this to develop their skills. ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.
He requested to collaborate with NAICOM in the building of an 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 sensitize the youth on the benefits of insurances.
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.
The CFI promised to convey the Honourable 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.
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