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NAICOM, Ministry of Youth Set To Promote Youth Empowerment



By Linda Ike

The National Insurance Commission, NAICOM and Ministry of Youth Development have resolved to advance youth development initIatives in Nigeria

This was disclosed on Friday, in Abuja, when the Minister of State, Federal Ministry of Youth Development, Ayodele Olawande visited the Commissioner for Insurance, Olorundare Thomas. observed that the purpose of the visit is to discuss potential collaboration opportunities between the Ministry of Youth Development and NAICOM in advancing Youth empowerment in the areas of financial literacy, entrepreneurship, and career development.

The Commissioner for Insurance, Olorundare Thomas briefed the minister on the overview of the Nigerian Insurance Industry, its achievement in the area of financial inclusion, transition risk-based supervision and IFRS 17, setting up of the West African Insurance Supervisions Association and the College of Insurance Supervisors of the West African Monetary Zone.

The Minister, Ayodele Olawande thanked NAICOM Management and expressed his desires for the Ministry to partner with NAICOM in engaging the Nigerian youth to develop their skills.

Olawande noted that the Ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.

He seeks NAICOM’s assistance in the building of insurance educational module to be uploaded on the NIYA platform to enable the training of youths, enhance their level of financial literacy, foster entrepreneurship and job creation, promote career development and sensitise youth on the benefits of insurances.

The CFI promised to refer the minister’s request to the relevant parties for onward review.

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