Sunday, May 16, 2021

Experts urge microfinance banks to promote insurance services

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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.