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Chuks Udo Okonta
The Honourable Minister of State, Federal Ministry of Youth Development Ayodele Olawande, has asked for collaboration with National Insurance Commission (NAICOM) in the building of insurance educational module to be uploaded on the Nigerian Youth Academy (NIYA) platform as this would go a long way in training the youths and improve their level of financial literacy.
He made the request when he paid a courtesy visit to the Commissioner for Insurance Olorundare Sunday Thomas on 16th February, 2024, in Abuja, adding that the collaboration would help in entrepreneurship, job creation, career development and sensitise youth on the benefits of insurances.
The Minister thanked the 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.
He noted that the Ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.
According to him, the purpose of the visit was to discuss potential collaboration opportunities between the Federal Ministry of Youth Development and NAICOM in advancing youth development initiatives, particularly in the areas of financial literacy, entrepreneurship, and career development.
The Commissioner for Insurance in his remark welcomed the Minister and 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.
