Ovia urges NAICOM, NCC, CBN on financial inclusion

Kindly Share This Story:

To  acheive Financial Inclusion, the National Insurance Commission (NAICOM), Nigerian Communication Commission (NCC) and the  Central Bank of Nigeria (CBN) must approve the use of mobile phones to sell micro insurance to the poor and excluded adults in the country, Founder and Chairman, Zenith Bank, Jim Ovia  said yesterday.

He spoke at Transcorp Hilton Hotel, Abuja,  during the 2018 Insurance Industry National Conference, entitled: “Insurance Industry and Financial Inclusion.”

He said while NAICOM has released a new micro insurance guideline in this respect, this will not change if operators would still need to sell the product in the old traditional way.

He said: “NAICOM has a new guideline on micro insurance but it is not being deployed through mobile telephony. The Commission can’t deploy micro insurance through the traditional old ways. It should be done through new means which is technology. The Commission, NCC and CBN need to approve mobile telephony for the distribution of micro insurance urgently,” he said.

Meanwhile, NAICOM yesterday said it has concluded plans to launch the Nigerian Insurance Industry Development Plan (NIIDP) in order to boost financial inclusion.

The commission said it had already concluded work on the NIIDP, with KPMG, a consulting firm monitoring its implementation to ensure each segment of the market kept to date with their assigned responsibilities.


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: