Quick Takes

Stakeholders to Discuss Financial Inclusion

Stakeholders in the financial service sector will gather in Lagos to discuss implementation framework through micro insurance and pension. The forum is the fourth edition of the National Association of Insurance and Pension Correspondents ’( NA I PC O) conference holding on August 29th, 2019.The conference would explore various ways at which the two sectors have been deepening financial inclusion through micro agendas.This year’s edition of the conference has the theme: “Financial Inclusion: The Micro Agenda for Insurance and Pension Sectors.” According to the conference organisers, NAIPCO, experts would discuss the micro insurance guideline and micro pension plans and how it can be an effective tool to deepen financial inclusion in the country. The Micro Insurance Guideline is a concept launched by the National Insurance Commission( NA I COM ), while Micro Pension Plan was recently launched by Pen Com. The two concepts are expected to deepen insurance and pension penetration, especially, in the informal sector of the economy where players are largely financially excluded. The event, would be chaired by Mohammad Ahmad, former director general of the National Pension Commission (PenCom) and has, as special dignitaries, the Acting Director General of the National Pension Commission( Pen Com ), Aisha Dahir-Umar, and the Commissioner for Insurance, while the Managing Director/CEO, Achor Actuarial Services Ltd, Dr. Pius Apere is the Guest Speaker. A statement from NAIPCO Secretariat, signed by its President, Omobola Tolu-Kusimo, stated that the conference would focus on financial inclusion, especially, as insurance and pension penetration and are still abysmally low when considered with 190 million population, of which about 30 millions are working class citizens. The two sectors she said, could drive the financial inclusion strategy of the country if relevant stakeholders play their respective roles effectively.