AIICO Partner EdFin MFB to boost education in Nigeria

As part of its commitment to enhance the development of the Nigerian educational sector, AIICO Insurance Plc, has partnered with EdFin Microfinance Bank to offer support on sustainable education in Nigeria.

According to the statement signed by the Head, Strategic Marketing and Communications Department, AIICO, Segun Olalandu, said that over 400 schools were represented at the EdFin’s Stakeholders Forum on Education which held recently in Lagos.

The AIICO spokesman further disclosed that the event which witnessed several participants including; school owners, Parent Teacher Association (PTA) representatives, among others, deliberated on issues affecting education with the aim of proffering solutions for the growth of the sector and sustainable future for the Nigerian students.

The event also featured several information sessions such as financial literacy training which was facilitated by Fate Foundation followed by an exhaustive interactive session between the company’s board of directors and the participants.

Other sessions included live demos on Google Bolo (a speech-based reading tutor app to help children in rural regions with the reading skills) by Google Nigeria and Wowbii Tap – a world class interactive board preloaded with intelligent educational content to help teachers improve the quality of instruction in schools and enhance subject-matter understanding among students.

Commenting on the partnership, Executive Director and Head of Retail Business, AIICO, Mr. Olusola Ajayi, said: “Education is a key area of focus in the company’s corporate responsibility and sustainability function. We contribute our quota to the development of education through diverse initiatives and form strategic alliances with relevant stakeholders like EdFin to meet our objectives.

“In demonstration of its passionate commitment for education, AIICO has several innovative product offerings targeted at risk protection for sustainable education of the Nigerian child.

He stated further that, “the partnership with EdFin Microfinance Bank is strategic, given their niche, their reach and positioning within the Nigerian educational sector. Founded in collaboration with Gray Matter Capital (GMC) USA; a US-based impact investor concerned with improving the quality of education for underserved children in developing countries, EdFin was birthed out of the need to improve the quality of education in Nigeria.

“The bank which is dedicated solely to funding the education eco-space in Nigeria aims to positively disrupt the standard and quality of education in Nigeria, by providing the much-needed financial resources and services to the education sector”, he stated.

Also commenting, the Managing Director/CEO, EdFin MfB, Mrs. Bunmi Lawson, commended the major sponsors of the event – AIICO Insurance (which is providing life insurance for all students in the bank’s network of schools) and FlexiSAF (a software development company providing school management system for schools) – for their support towards making the event a success.

AIICO Insurance Plc, is leading insurer in Nigeria which commenced operations in 1963. It provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.