The president of the federal republic of Nigeria, Muhammadu Buhari has explained that his administration prioritized financial inclusion on economic growth and development, considering that they provided the enabling policy environment to achieve the expected results.
Buhari made this statement at the International Financial Inclusion Conference held in Abuja, where the Central Bank of Nigeria CBN, launched it’s five strategic policy reports with a view to actualizing 95 percent financial inclusion by 2024 and also stating that over N1.07 trillion has been disbursed to farmers under the Anchor Borrowers Program.
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The reports are: Revised National Financial Inclusion Strategy; National Strategy for Leveraging Agent Networks for Women’s Financial Inclusion; National Fintech Strategy and Nigeria Financial Services Maps (NFSMaps); and Payment System Vision 2025.
Representing the president at the event, the minister of the federal capital territory, Mohammed Bello, said: “For instance, in 2019, I launched the Micro Pension policy which was aimed at deepening pension penetration amongst M.S.M.E.s and the informal economy. We also initiated policies for Micro-Insurance and Collective Investment. These initiatives are geared toward providing access to a wide range of financial products and services to the underserved in line with our National Financial Inclusion objective.”
Speaking further he said financial inclusion has being a major innovative solution for dealing with some of the pressing issues facing the country.
