The Minister of State, Federal Ministry of Youth Development Mr. Ayodele Olawande recently paid a courtesy visit to the Commissioner for Insurance Mr. Sunday Thomas.
The meeting was aimed to discuss potential collaboration opportunities between the Federal Ministry of Youth Development and National Insurance Commission (NAICOM) in advancing youth development initiatives, particularly in the areas of financial literacy, entrepreneurship, and career development.
In his remark, Commissioner for Insurance gave an overview of the Nigerian insurance industry, 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.
Expressing his warm reception to the NAICOM Management, Minister Olawande said it was his desire for the Ministry to collaborate with NAICOM in engaging the Nigerian youth formally and informally to develop their skills.
According to him, the Ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.
However, he requested to collaborate with NAICOM in the building of insurance educational module to be uploaded on the NIYA platform which 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.
In his response, Mr. Thomas 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.