• Thursday, March 28, 2024
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BusinessDay

Industry keys into financial inclusion

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Determined to support government efforts towards financial inclusion, the Insurance Industry Consultative Council (IICC) is dedicating this year’s National Insurance Conference to campaign for financial inclusion.

 

The federal government through the Central Bank of Nigeria (CBN) in October 2012 launched the National Financial Inclusion Strategy (NFIS), which focuses on interventions that will increase access to: payments, savings, credit, remittances, pension, insurance; under affordable terms and conditions

 

The overall aim is to empower people, promote savings, increase the level of investment by diverse economic groups, catalyse increased productivity, improve income, reduce poverty and also promote a sound, safe, vibrant and stable financial system.

 

Femi Hassan, chairman planning committee , National Insurance Conference said in Lagos that  the 2018 Conference is being organized to further underscore the commitment of the Nigerian Insurance Industry to continually upscale the knowledge of insurance operators, other professionals in the financial services sector as well as other stakeholders; about contemporary dynamics in the economic development of the country.

“The Conference would also highlight the enabling roles of the insurance industry in achieving financial inclusion and by so doing, accelerate its contributions to Nigeria’s Gross Domestic Product.”

 

He said for the fact that access to financial services is concentrated in urban areas has limited the people from the rural areas from contributing maximally to growth and development of the nation’s economy.

“It is therefore instructive to state that the theme of this year’s Conference: Insurance Industry and Financial Inclusion is quite apt, in view of the policy direction of government towards including all segments of the society within the financial safety net. “

 

The 2018 National Insurance Conference holding from Sunday July 8th – 10th 2018 in Abuja will be decalred open by the Yemi Osinbajo vice president while. Kemi Adeosun will give a keynote address, with the Commissioner for Insurance, Mohammed Kari as the chief host.