Ministry Calls for Partnership with NAICOM
By Patience Ikpeme
The Federal Ministry of Youth Development has called for collaborative efforts with NAICOM to help engage the youths and develop their skills formally and informally.
The Minister of States, Federal Ministry of Youth Development, Mr. Ayodele Olawande made this call during a courtesy visit to the Commissioner for Insurance, Mr. Olorundare Sunday Thomas, on Friday in Abuja.
The meeting aimed to explore potential synergies between the Federal Ministry of Youth Development and NAICOM, particularly focusing on enhancing financial literacy, entrepreneurship, and career development among Nigerian youth.
During the visit, Mr Olorundare Sunday Thomas provided insights into the Nigerian insurance industry’s landscape, highlighting achievements in financial inclusion, risk-based supervision, and international accounting standards adoption.
The CFI also emphasized NAICOM’s commitment to fostering regional collaboration through initiatives like the West African Insurance Supervisors Association and the College of Insurance Supervisors of the West African Monetary Zone.
In his remark, the Minister for State, Mr. Ayodele Olawande stressed the need for collaboration between the Ministry and NAICOM in building an insurance educational module which will be uploaded on the NIYA platform for easy assessment and training of the youths and improve their level of financial literacy, job creation and entrepreneurship and also sensitise youth on the benefits of insurances and their career development.
Mr. Olawande explained that the ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youths could learn Vocational and digital skills.
Mr. Olorundare Thomas further promised in response to take the message to the relevant quarters ( The Chartered insurance institute of Nigeria and the college of Insurance and financial Management) within the Nigerian Insurance industry
