Stakeholders in the insurance and pension sectors have called on Nigerians to embrace insurance and pension schemes to live meaningful lives.

R-L: Alhaji Bala Zakariya’u, past president, Chartered Insurance Institute of Nigeria and Chairman of occasion; Mr. George Onekhena, Deputy Commissioner, Finance and Administration, NAICOM, and Mr. Lana Loyinmi, Head Contribution & Bond Redemption, National Pension Commission, during the 3rd Annual National Conference of the National Association of Insurance and Pension Correspondents (NAIPCO) on The Role of Stakeholders in Developing Insurance and Pension Sectors held in Lagos on Thursday. August 09, 2018.

The experts, who spoke at the sixth edition of the national conference of the National Association of Insurance and Pension Correspondent (NAIPCO) held recently in Lagos, noted that the two schemes are essential to plan for future risks.

The former director-general, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga, while emphasising the need for Nigerians to embrace insurance and pension, tasked insurance and pension operators to be deliberately creative and innovative in their product development and service delivery, by ensuring that they focus on meeting the needs of the people.

She added that, “people will embrace the products and services that meet their needs. The critical thing is meeting the need.”

According to her, “unfortunately, the social security system in Nigeria is next to zero; so, you need to plan for yourself so that if anything happens, you need to be able to stand.

In this era of COVID-19 pandemic, insurance and pension are what Nigerians need to lean on for a hopeful future.”

In her goodwill message, the director general, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, who was represented at the event by the commission’s head, corporate communications, Mr. Peter Aghahowa, emphasised the need for Nigerians to embrace contributory pension, as a social security safety net.

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