Lagos – Traders and community leaders at the Bola Ahmed Tinubu Ultra-Modern Market, Ilepo, joined hands with ASHA Microfinance Bank in a sanitation exercise and health checks as the bank unveiled a new social protection initiative, ASHA MFB Lifecare. The initiative is designed to provide insurance support for small businesses and low-income earners, particularly traders and grassroots families who often face financial shocks without safety nets. Speaking during the launch, the Managing Director and Chief Executive Officer of ASHA MFB, Funmilola Paseda Oladoyimbo explained that the Lifecare scheme was developed to ensure that people at the grassroots have access to protection that helps them recover when emergencies strike. “Insurance coverage in Nigeria remains less than three percent, which is a worrying figure. Too many people are exposed to shocks that can wipe out their livelihoods. ASHA MFB Lifecare is about ensuring traders and families at the grassroots have access to protection that helps them bounce back when challenges arise,” she said. Other speakers at the event stressed the importance of social protection in safeguarding small traders. Mr. Andrew, Executive Director of Operations, said the programme reflects a commitment to blending financial services with community wellbeing, while Mrs. Ijeoma Paul-Obi, Head of Risk Management and Sustainability, noted that ASHA Microfinance Bank has, for 16 years, focused on women-led enterprises and community health initiatives. Also addressing participants, Head of Operations, Mr. Anaekwe Michael, encouraged traders to embrace backup plans such as health protection and insurance to limit exposure to losses, theft and health-related disruptions. The launch event ended with a clean-up exercise, in which traders, market leaders, and representatives of the Community Development Association (CDA) took part, reinforcing the link between healthy communities and sustainable livelihoods.