The Federal Ministry of Youth and Sports Development Flags-Off Pilot NYSC Peer Educator Programme for Financial Inclusion
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The Federal Ministry of Youth and Sports Development Flags-Off pilot NYSC Peer Educator Programme for Financial Inclusion Inside this issue: Cover Story: Federal 1 Ministry of Youth and Sports flags-off pilot NYSC peer Educator Programme Training of Trainers 2 Workshop on NYSC Peer Educator Pro- gramme National Financial 3-4 Inclusion Governing Committees holds its statutory meetings NYSC Director-General, Brigadier General Sulaiman Kazaure flanked by officials and Corps members during Spotlight: Guidelines 5 the Flag-Off Ceremony of the Peer Educator Programme at the NYSC Permanent Orientation Camp, Mangu, for Bancassurance Source: http://nysc-cds.com/in-the-news/nysc-members-enlisted-educators-financial-inclusion-programme International Collabo- 6 The Minister of Youths and Sports, Barrister He added that “the programme will help reduce ration Solomon Dalung has flagged-off the pilot the rate of youth unemployment and restiveness scheme for the National Peer Educator Pro- Microfinance Sector 7 and provide young entrepreneurs with increased gramme for Volunteer Corps members. access to fund/ credit facilities and business The Programme aims to create awareness skills”. Insurance Sector 8 among young people on the need to make use The NYSC Director-General, Brigadier General Stakeholder Activities 9-10 of financial products and services. It is execut- Sulaiman Kazaure, also noted that the inclusion ed through volunteer National Youth Service of Corps members in the programme was not Photorama 11 Corps (NYSC) members across the country only a recognition of their invaluable contribu- using the platform of their Community Develop- tions and patriotic zeal, but also an endorsement Financial Literacy 12 ment Service (CDS). of the role of youths as drivers of the Nigerian The flag-off ceremony was held in June 2017 economy. The Capital Market 13 at the NYSC Orientation Camp Mangu, Plateau Other partners involved in the implementation of Strategic Engagements 14 State after a successful training of the volun- the programme apart from the Federal Ministry teer corps members in twelve pilot states of Youth and Sports and the National Youth Ser- International Financial 15-16 across the six geo-political zones of Nigeria: vice Corps include the Central Bank of Nigeria, Inclusion News Abia, Anambra, Edo, Gombe, Kano, Kwara, Nigeria Deposit Insurance Corporation, National Lagos, Oyo, Plateau, Rivers, Sokoto, and Pension Commission, Securities and Exchange Nigerian Financial 17-18 Taraba. Commission, the Association of Non-Bank Micro- Inclusion News In his address at the ceremony, Barrister Da- finance Institutions of Nigeria and the National lung said the Peer Educator Programme came Insurance Commission ■ Article: Beyond finan- 19 as a result of the need to reverse the very low cial inclusion: financial patronage of financial products and services in health as a global the country compared with Nigeria’s peers. framework Contact details 20 Financial Inclusion Status as at December 2016 Source: Enhancing Financial Innovation & Access (EFInA) August 2017, Volume 2, Issue 3 FINANCIAL INCLUSION NEWSLETTER SPECIAL INTERVENTIONS Training of Trainers workshop on NYSC Peer Educator Programme holds in 12 pilot states The Honorable Minister, Youth and Sports Development, Barrister Solomon Dalung being decorated with the Financial Inclusion jacket by Mr. Kunle Oduyebo, Director Enterprise Development and Promotions Department Following the flag off ceremony of the NYSC Peer educator programme in Plateau State, a Training of Trainers (TOT) session held across 12 pilot states in the country including Abia, Anambra, Edo, Gombe, Kano, Kwara, Lagos, Oyo, Plateau, Rivers, Sokoto, and Taraba. The programme trained 30 volunteer corps members from each state who are to serve as financial inclusion ambassadors and carry on the message of financial education to communi- ties in their localities during their weekly Commu- nity Development Service. Facilitators were drawn from the Central Bank of Nigeria, Federal Ministry of Youth and Sports, Association of non-Bank Microfinance Institu- tions in Nigeria, National Pension Commission, Nigeria Deposit Insurance Corporation amongst others. Some of the topics covered during the training Team Plateau during the training session Team Taraba during the training session included: Needs and Wants, Record Keeping and Cash management, Household financial management, Financial Environment, Financial Consumer rights and responsibilities, Frauds and Scams, Me and my business At the end of the sessions, the volunteers were tasked with the responsibility of making presen- tations to their peers in order to assess their understanding of the concepts and measure their ability to deliver the training to their com- munities. The Session is expected to be replicated across the country once the appropriate measures to Team Lagos during the group assignment NYSC Volunteer delivering a presentation to ensure sustainability are put in place ■ his peers in Gombe state 2 August 2017, Volume 2, Issue 3 FINANCIAL INCLUSION NEWSLETTER National Financial Inclusion Governing Committee holds its Statutory Meetings 10th Financial Inclusion Working Group Meetings The four Financial Inclusion Working Groups held their 10th meeting at the International Training Institute, Abuja on 21st June, 2017. The major highlights of the meetings included an update on execution of workstreams to promote financial inclusion in Ni- geria by respective agencies and key resolutions from the previous meeting. Highlights from the meetings are reported below: Financial Inclusion Products Working Group (FIPWG) Financial Literacy Working Group (FLWG) 1. National Collateral Regis- try (NCR) Bill: The NCR 1. Financial Education Cur- Office of the CBN report- riculum Development: ed that the number of The Consumer Protection financial institutions Department of the CBN Mr. Obioma Emenike, Heritage Bank registered stood at 114. Cross-section of delegates on Knowledge Ex- reported that the 2nd Phase speaking during the session The Office also reported change Visit to Nigeria attending the meeting of the project had com- as Observers that the secured transac- menced and involved the Special Interventions Work- tions in Movable Assets development of the Teach- Financial Inclusion Channels ing Group (FISIWG) Bill was passed into law ers guide. The launch of the Working Group (FICWG) 1. National Peer Group Edu- on the 31st May, 2017. curriculum and pilot imple- cator Programme on Finan- 1. Facilitation and Provision of mentation was yet to com- 2. Implementation of cial Inclusion: The Federal Internet Access in Nigeria mence. Bancassurance Frame- Ministry of Youth and Sports work: In April 2017, Na- National Communications 2. Mass Sensitization and Development reported that tional Insurance Com- Commission (NCC) reported Awareness: 482 volunteers were trained mission (NAICOM) pub- that over 3,250 km of fiber- in 12 states to create aware- The representatives of lished the revised optic cable running across the ness among youths on finan- the Bankers’ Commit- Bancassurance guide- six geopolitical zones was being cial inclusion benefits. lines for the insurance deployed through provision of tee stated that all De- sector. subsidy to leading fibre and posit Money Banks 2. Youth Entrepreneurship transmission companies. were preparing to par- Development Programme 3. Harmonization of Data ticipate in the activities Heritage Bank reported that Capturing for National of the World savings the collaboration between Identity Management 2. Shared Agent Net- day scheduled to hold the CBN and Heritage Bank Commission (NIMC): work/super-agent licensing on the 31st October, was aimed at improving ac- NIMC reported that Mer- 2017 cy Cops had pledged to The Banking and Payment cess to finance by youth to support the printing of Stsytems Department of the GIZ reported that it was develop their entrepreneurial National Identity Cards CBN reported that Capricorn planning to institution- skills. Mr Obioma Emenike for those enrolled for Digital Services had been given alize financial literacy who represented the bank at them. As at June, 2017, an ‘Approval –in-principle’ to training in 8 micro- the meeting said that: operate as a super agent in NIMC had enrolled a finance institutions 1,010 applicants, but addition to IFIS and Innove- using its financial litera- total of 17 million Nigeri- only 310 applicants cives. cy manual. ans. were eligible. 4. Adoption of Microinsur- 3. Targeted financial Educa- Only 10% of the 310 ance by MFBs and MFIs : 3. NIPOST Agent Banking activi- tion programme for MSMEs applicants got the fund Micro insurance guide- ties: NIPOST reported that 22 and Farmers: MSMEs and whereas others did not lines was still awaiting post offices were currently be- Farmers have been trained due to the following; review by NAICOM execu- ing used as outlets for agent in Birnin Kebbi, Awka with 5 tives. banking by 4 MFBs more locations planned. i. Over 50% did not pick the Offer letter. 4. Target-setting exercise for ii. About 10% rejected the MFBs: The Financial inclusion Offer letter. Secretariat reported that follow- iii. About 5% compromised ing the approval by the Bank- the documents provided. ers’ Committee to breakdown Financial Inclusion targets for iv. 25% are still meeting the DMBs, a similar exercise had conditions in the Offer letter. commenced for Microfinance Head, FIS and Chairperson FIPWG with Cross section of working group mem- Banks. some members of the Products