The main goal of the NFIS
is universal financial inclusion to a broad range of quality and affordable services.
Accordingly, the NFIS
governance structure was established in the form of NFIS
council, chaired by the finance minister, and the NFIS
steering committee, chaired by the State Bank governor.
Apart from the above initiatives, the NFIS
Technical Committee on Insurance (TCI) has already completed the development of standardised insurance glossary for the insurance sector in Urdu.
Within each area the NFIS
looks at the specific challenges and defines operational tactics to be undertaken.
According to the NFIS
document, the number of Nigerians included in the formal sector would increase from 36.
This economic phenomenon has already boosted fixed insurance sales substantially within NFIS
It is expected that this will pave the way for development of the microinsurance segment thereby achieving the objectives of the NFIS
, according to the official handout issued by the Securities and Exchange Commission of Pakistan (SECP).
It is expected that this will pave the way for development of the micro-insurance segment thereby achieving the objectives of the NFIS
It is expected that this will pave the way for development of the micro insurance segment thereby achieving the objectives of the NFIS
He said that the CBN has evolved an appropriate governance arrangement for the implementation of the NFIS
at the state level, saying that FISSCO would now take the responsibility for achieving those targets at the grassroots.
The loan agreement will also support the Central Bank of Nigeria's National Financial Inclusion Strategy, NFIS
, she said.
In this regard, SBP has launched NFIS
in 2015 wherein a target of 50% growth in bank accounts by adult population by the year 2020 has been set out to enhance the outreach of basic financial services to unbanked/underserved population.