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By Goddy Egene
The stock market sustained its positive performance for the second day as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.14 per cent to close at 40,221.30, while market capitalisation added N29.5 billion to close at N21.043 trillion.
The gain recorded followed increased buying interest in Lafarge Africa Plc, Zenith Bank Plc and Guaranty Trust Bank Plc. A total of 22 stocks appreciated compared with 20 that depreciated. Market operators said bargaining hunters are positioning for dividends that are being declared for the 2020 earnings season. United Capital Plc and African Prudential Plc had last week announced dividends of 70 kobo and 50 kobo last week.
Financial Inclusion: Challenges, prospects of increasing access to insurance
On
By Rosemary Iwunze
In 2012, the Central Bank of Nigeria, CBN, launched the National Financial Inclusion Strategy with the aim of increasing the number of adults that have access to financial services to 80 per cent by 2020.
To achieve this, different targets were set for each sector of the financial system. For the Insurance industry, the target was 40 per cent insurance penetration amongst the adult population by the year 2020.
According to a survey released by Enhancing Financial Innovation and Access, EFInA, in 2018 titled: “Access to Financial Services in Nigeria 2018 Survey”, out of a total adult population of 99.6 million, only about 1.6 million adults representing 1.6 per cent had any form of insurance in 2018, representing 0.1 per cent decline from 1.7 million adult population in 2016.