Mr. Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) has promised to ensure that some 39.5% of excluded Nigerians will be encouraged to embrace formal banking services under the apex bank’s financial inclusion plan.
[su_quote]Ms Modupe Ladipo, CEO of EFInA announced the result of the Access to Financial Services survey showing that the percentage of formally excluded adult Nigerians had reduced to 39.5%. Though the figure was still relatively high due to the fact that 23% of adult Nigerians lacked formal education and less than 10% were salaried, she adds that there is a brighter side to the picture.[/su_quote]
Emefiele says the bank bank will ensure that affordable financial services are provided to the low income and underserved active adult population.
The CBN Governor’s assurance comes amid a showing that the percentage of formally excluded adult Nigerians has reduced to 39.5%.
Emefiele dropped the hint in a keynote at the 2014 Financial Inclusion Conference organised by Enhancing Financial Innovation and Access (EFInA) held recently in Lagos.
According to him, the commitment to financial inclusion was part of the CBN’s vision to become the model central bank delivering price and financial system stability and promoting sustainable economic development.
As part of the CBN’s commitment, a Financial Inclusion Secretariat has been set up in the Bank to coordinate the implementation of the Financial Inclusion Strategy, he adds.
The forum also unveiled the results of the 2014 Access to Financial Services Survey that provided insights into sustainable financial inclusion models in other parts of the world and how Nigeria could learn from them.
Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) (left) and Arunma Oteh, Director General of the Securities and Exchange Commission (SEC) at the event Photo credit: CBN
Ms Modupe Ladipo, CEO of EFInA announced the result of the Access to Financial Services survey showing that the percentage of formally excluded adult Nigerians had reduced to 39.5%.
Though the figure was still relatively high due to the fact that 23% of adult Nigerians lacked formal education and less than 10% were salaried, she adds that there is a brighter side to the picture.
According to Ladipo, the survey shows that the percentage of adult Nigerians formally included in the financial system had increased to about 50%.
The CBN Governor commended EFInA for its work towards promoting financial inclusion in Nigeria and thanked them for all the support the Central Bank of Nigeria had received in the implementation of its National Financial Inclusion Strategy.
