70m uninsured informal workers pose risk to Nigeria’s economy – Experts

Nigeria is forfeiting a vast pool of long-term savings and investment capital because most of its estimated 70 million informal sector workers are excluded from pension and insurance schemes, financial experts have warned. Speaking at an industry event involving insurance and pension operators in Lagos, the Managing Director of Arthur Stevens Asset Management Limited, Olatunde Amolegbe, stated that failing to capture the informal economy poses a significant economic risk to the country’s financial stability and growth ambitions. Amolegbe said the insurance...