LAGOS – A microfinance expert, Mrs Olubuumi Lawson, on Tuesday, appealed to insurance firms to support microfinance banks in efforts to bring insurance to low income earners.
Lawson made the appeal at a one-day workshop organised by the National Association of Microfinance Banks (NAMB), Lagos Chapter, for practitioners in the sector.
The News Agency of Nigeria (NAN) reports that the theme for the workshop is ” Strategies for Profitable Banking in Nigeria.
She stressed that practitioners should partner with insurance firms that could design good and low micro insurance products for their customers
Lawson, who is the Chief Executive Officer (CEO) of Action Microfinance Bank, a National and leading microfinance bank in the country said insurance was pivotal to low income earners.
“Nigerians, especially those in the low income group, face a lot of mishaps such as road and fire accidents among others
She wondered why a bean cake seller could not be insured given that her capital was probably borrowed from a microfinance bank.
She called on the banks to mount an enlightenment campaign to enable their customers know the benefit of taking an insurance policy.
“Most low income earners are not aware of insurance,’’ she said. (NAN)