Author: admin
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Financial Inclusion: NIPOST, Fidelity Bank moving the process forward
The federal government’s efforts at ensuring that adult Nigerians that do not have access to today’s financial services is bridged is yielding results with some of its institutions partnering to facilitate its workability. DAVID AGBA reports. The strategy The Central Bank of Nigeria (CBN) adopted the National Financial Inclusion Strategy (NFIS) in 2012. The Strategy…
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Financial Inclusion: Access Bank Introduces Loan For Smartphone Purchase
Access Bank has introduced a financing scheme for procurement of phones for more Nigerians to get connected to more businesses online and deepen financial inclusion. Victor Etuokwu, Executive Director, Retail Banking, said in a statement on Wednesday in Lagos that the loan would provide more Nigerians with access to credit under its Device Finance scheme.…
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Lifting cash-less banking with multi-currency card
Collins Nweze The introduction of the cash-less banking was one of the biggest news that hit the sector in January 2012. The objective, the Central Bank of Nigeria (CBN) says, is to change the cash-driven economy and reduce the rising cost of banking. The policy was also designed to promote financial intermediation, financial inclusion, minimise…
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Expanding Financial Inclusion in Nigeria.
Hamid Ayodeyi The linkage between financial inclusion and economic development of developing countries has provided the impetus for countries to develop and implement improved strategies to financially include their unbanked citizens, according to the latest financial inclusion report of the Central Bank of Nigeria (CBN). Also, a study by the World Bank in 2017, revealed…
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The Role of Agent Banking in solving the Financial Inclusion challenge.
By Oluwatosin Sam-Amoye The EFInA 2018 survey revealed that several factors were responsible for the unbanked population being financially excluded. These factors include: Unbanked population not aware of what products and services are available Unbanked population do not know the benefits of financial products and services Low literacy level Lack of trust of the services…
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How Nigeria will achieve 95% financial inclusion target – Emefiele
By Bamidele Samuel Adesoji The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has disclosed how Nigeria will achieve 95% financial inclusion by 2024, stating that the CBN had explored new techniques and policies to drive financial inclusion target in the country. According to the information contained in the CBN financial inclusion newsletter for July 2019, the CBN Governor disclosed this…
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CAN CASH TRANSFER PROGRAMS DEEPEN FINANCIAL INCLUSION IN NIGERIA?
Tochukwu Okwuanya Lagos, Nigeria In the past five years, I have had boots on the ground in the quest to deepen financial inclusion in Nigeria; first as Agent Network Manager for one of the early Digital Finance Startups in Nigeria, but later as a Product Manager for one of the Mobile Money Operators in Nigeria.…
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Financial inclusion and cashless policy is still underserved if I cannot buy roasted corn without cash
Dear Fellow FinTech expert, To all of us in the financial sector, most especially those that are operating in the sphere of financial technology and money integration, I wish to say categorically that all our efforts are still far below the addressable market and I call on all of us to brace up our thinking…
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Making Nigeria a credit driven society
In the last few years, financial inclusion has become a regular phrase amongst organisations looking to deepen the reach of financial services to unserved and underserved people across the country. This has given rise to several products, services and strategies typically designed to help a large part of the population access financial services to better…