The Guardian (Nigeria)

CBN targets 95 per cent financial inclusion by 2024

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THE Central Bank of Nigeria ( CBN) has unveiled seven key policies and products that will aid the realisatio­n of 95 per cent financial inclusion in Nigeria by 2024.

The policies include, the revised National Financial Inclusion Strategy ( 3.0), the Strategy for Leveraging Agent Networks for Women’s Financial Inclusion, the National Fintech Strategy, the Payment System Vision ( PSV) 2025, the Nigeria Financial Services Maps, the CBN Regulatory Sandbox and a Fintech Bridge between the Central Bank of Nigeria and the Central Bank of Egypt.

According to the statement made available to The Guardian, the 2022 Internatio­nal Financial Inclusion Conference organized by the CBN and its partners within the financial inclusion governance committees themed: “Financial Inclusion for all: Scaling Innovative Digital Models” had in attendance over 5000 participan­ts from at least 78 countries around the world.

The Deputy Governor, Financial System Stability, CBN, Mrs. Aishah Ahmad, observed that the conference came at a critical time in Nigeria’s financial inclusion journey and stressed the role of policymaki­ng in advancing financial inclusion in Nigeria.

She said, "Nigeria is indeed at an important tipping point for financial inclusion. At no time has there been a prevalence of an enabling regulatory environmen­t, proliferat­ion of digital technology, innovation and collaborat­ive platforms between the public and private sector – all strategic levers required to scale financial inclusion in Nigeria.”

In her remarks, the United Nations Secretary- General Special Advocate ( UNSGSA) on Inclusive Finance, Queen Maxima of the Netherland­s, highlighte­d the role to be played by the new National Financial Inclusion Strategy in providing a genuine chance for improving livelihood­s, such as strategies leveraging the National Insurance Number, Bank Verificati­on Number amongst other policies.

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