Sunday, May 16, 2021

Experts urge microfinance banks to promote insurance services



The Central Bank of Nigeria and financial sector experts have called for collaborative efforts among microfinance banks to promote the expansion of micro-insurance as a tool for deepening financial inclusion.

Addressing participants at a symposium, the Deputy Governor, Financial Sector Surveillance of CBN, Mrs Aisha Ahmad said there is a need for collective strategy to re-emphasise the importance of micro finance as a financial service.

She added that it is necessary to re-sign it as a vital tool in attaining a higher level of financial inclusion within the Nigerian microfinance sub-sector through security of micro- businesses.