NAICOM, SEC Restate Commitment To Deepen Financial Inclusion
L-R: Yemisi Izuora, Editor-in-Chief, Oriental News Online and converner of the financial inclusion conference; representative of Director General of Securities and Exchange Commission (SEC) Lamido Yuguda, SA’ Adatu A Faruk, Head Financial Inclusion Division and Market Development Department SEC and Rasaaq Salami, Deputy Director/Head Corporate Communications & market Development, NAICOM, who represented the Commissioner for insurance/CEO of NAICOM at the conference in Lagos on Thursday
The National Insurance Commission (NAICOM) has assured Nigerians of its commitment to ensure the success of the Federal Government’s Financial Inclusion Initiative.
The Securities and Exchange Commission (SEC), on its part reiterated the Commission’s commitment to ensure that every segment of the society is covered in the ongoing financial inclusion initiative of the Federal Government.
The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olorundare Sunday Thomas, gave the assurance at the inaugural conference of Oriental News Nigeria with theme “Engaging with critical groups to develop effective financial inclusion initiative” which held on Thursday at the Sheraton hotel Ikeja Lagos.
He said the micro insurance schemes established by the Commission through licencing of some companies to operate in the segment is focused at ensuring that Nigerians at the grassroots level are not left out of the budding Nigerian financial enterprise.
Thomas who was represented at the conference by Rasaaq Salami, Deputy Director/Head Corporate Communications & market Development NAICOM, Thomas said that micro insurance provides the leeway to protecting your property, safeguarding your belongings from damages or loss and ensuring you do not suffer loss when the unexpected damage or loss occurs.
“Micro insurance safeguards traders or businesses of artisans and petty traders whenever their wares are destroyed, damaged or stolen.
“It is a way of safeguarding your property or business from any unforeseen event,and when it happens, what ever loss you ensured against will be reimbursed you” the commissioner for Insurance assured on financial inclusion.
Director General of the SEC, Lamido Yuguda assured that more Nigerians are captured in the digitalisation of the economy through the financial inclusion policy.
He said with the help of the fast growing Fintech penetration in the economy and financial systems, more Nigerians will be captured and be more protected to effectively navigate the nation’s financial systems, through the enabling channels, including the capital market, insurance and savings.
Represented at the conference by SA’ Adatu A Faruk, Head Financial Inclusion Division, Market Development Department SEC, the SEC DG said that the commission has created new standards and rules for registration and operations of FINTECH firms in the market to ensure compliance with global standard and adequate protection of investments.
The SEC DG reassured that the licenced Fintech companies will further speedy financial inclusion policy of the federal government, as well as ensuring adequate protection for their financial/ investment transactions.
Earlier in her opening address, Editor Oriental News Nigeria , Mrs Yemisi Izuora said that the conference was conceived by Stanmeg Communications, publishers of Oriental News Nigeria after a pain staking study the progress and prospects of the financial inclusion policy in the country since inception in 2012.
“The conference is being organised given that the past couple of years , the federal government and stakeholders in the financial sector have had to deal with expanding financial services tp large community of underserved pupulation and dealing with resilience challenges brought about by confluence of events that have taken place” Izuora stated.
