Data & Financial Inclusion | |
Data & Financial Inclusion | |
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Wednesday, November 07, 2018 7.00Am / Ottoabasi Abasiekong of WebTV
Stakeholders at the 2018 EFINA Nigeria
conference on financial inclusion, agreed that an effective identity management
system and the utilization of the payment service bank recently rolled out by
the Central Bank of Nigeria, will go a long way in scaling financial inclusion
in the country.
Panelists at the session which discussed “How Can Financial Inclusion be Used as an Enabler of Inclusive Economic Growth and Prosperity” identified the following as catalysts to reducing the financially excluded index in Nigeria;
The Chairman of EFINA Nigeria in his welcome address informed stakeholders that its three year strategy (2019-2021), will focus on targeting the youth, women and Northern Nigeria that constitute the majority of the financially excluded population in the country.
Furthermore in other to encourage the Fintechs to come up with innovative solutions for financial inclusion, the EFINA Chairman said a Challenge Fund has been established.
Representative of the Governor of the Central Bank of Nigeria and Deputy Director, Development Finance of the Central Bank of Nigeria Mr Osita Nwasinobi acknowledged the slow pace of growth in financial inclusion, despite the 2020 plan that was rolled out in 2012.
Nwasinobi shared that the plan has been revised to focus on five key areas namely;
Looking at the Indian example presented by Anup Singh of Microsave, the Asian nation made progress in its Financial Inclusion, through the following pillars;
Anup noted that with a clear vision and strategy in place, India was able to scale through the hurdles.
The event featured two additional panel sessions
that discussed “How Nigeria can Reposition its Financial Incusion Priorities”
and “Opportunities for Innovation for Financial Inclusion in
Nigeria:Technology, Markets, Consumers”.
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