Category: Government
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Reasoning together on CBN’s efforts to curtail voluminous cash
[FILES] Central Bank of Nigeria’s (CBN) governor Godwin EmefieleThe power of cash comes from the fact that it is tangible; this mystique is what ensures that a set of rectangular notes or circular coins can give effect to the laws of demand and supply. This character confers physical money with the overwhelming influence it possesses…
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Anticipated Gains of CBN’s Financial Inclusion Policy
Nkechi Ibe The overall objective of financial inclusion as stipulated in the 2018 Annual Report National Financial Inclusion Strategy (NFIS) Implementation is to bring the underserved segment of the population (unbanked population) into the formal financial system by providing them with access to financial services. The policymakers argue that an improved access to finance is…
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Why Buhari’s SIPs getting ministry status
The Presidency on Tuesday gave reasons why President Muhammadu Buhari’s Social Investment Programmes (SIPs) are getting full fledge ministry status. The SIPs have been under the office of Vice President Yemi Osinbajo since it started in 2016. President Buhari in his October 1st, 2019 Independence Day speech, announced the programmes movement to the Ministry of…
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Financial Inclusion is key in lifting people out of poverty- VP. Prof Osinbajo
Vice President Prof. Yemi Osinbajo, has revealed that the Federal Government’s policies and programmes aimed at promoting financial inclusion remain key to the actualization of President Muhammadu Buhari’s promise of lifting millions of Nigerians out of poverty. Prof. Osinbajo stated this in Abuja on Tuesday at the opening session of the 2019 Annual Conference of…
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Financial Inclusion: FG moves to capture 36.6m Nigerians
Following plans to meet its financial inclusion target, the Federal Government has restated its desire to capture over 36.6 million Nigerian adults, representing 36.8 per cent of the working population through the micro segment of insurance and pension sectors. The figure includes self-employed Nigerians that are yet to officially embrace any form of financial services…
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Financial Inclusion: CBN Sets Monthly Customer Target For MFBs .
The Central Bank of Nigeria has set a new target of 64 new customers for micro finance banks in Nigeria, as part of its efforts to achieve its financial inclusion target. The banking regulator stated this in a letter to all microfinance banks on the revised National Financial Inclusion targets on Tuesday. In a bid…