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NAICOM, Ministry of Youth Considers Partnership To Advance Youth Development

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The Federal Ministry of Youth Development has solicited the partnership of the National Insurance Commission NAICOM, in advancing youth development initiatives, especially in the areas of financial literacy, entrepreneurship, and career development.

The Minister of State, Ministry of Youth Development Mr. Ayodele Olawande made this known when he paid a courtesy visit to the Commissioner for Insurance Mr. Olorundare Sunday Thomas, in Abuja.

Olawande who expressed his desire for the Ministry to collaborate with NAICOM in engaging the Nigerian youth formally and informally to develop their skills, explained that the Ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.

He urged NAICOM to partner with the ministry in the building of insurance educational module to be uploaded on the NIYA platform, noting that this will go a long way in training the youths and improve their level of financial literacy.

This initiative according to Olawande would help in entrepreneurship and job creation, career development and sensitise youth on the benefits of insurances.

The Commissioner for Insurance in his remark welcomed the Hon. 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.

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