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Accion Mfb marks 10th anniversary, commits to deepening financial inclusion in Nigeria

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Tuesday, October 03, 2017 9.00am/Proshare WebTV

Accion micro finance bank, one of Nigeria's leading micro finance institutions has pledged to contribute immensely to deepening financial inclusion in the country.

This was a commitment shared to stakeholders at its 10th anniversary celebration, which it marked with a financial seminar on "Making Financial Inclusion, A Certainty in Nigeria by 2020"at the Oriental Hotel, Lagos.

In his opening remarks the Chairman of Accion Micro-Finance Bank Mr Patrick Akinwutan, said the banks was set up to solve access to financial services in Nigeria.

Since its inception in 2007, Mr Akinwutan outlined the progress of the Micro-finance bank to include a current loan book of over N6bl, 60 branch operations in 7 states and over 160,000 customers.

He highlighted as advantages of financial inclusion; providing financial services to the poorest people, driving economic growth, empowering people, facilitate growth of businesses and the collective development of communities.

Speaking on the seminar, Akinwutan noted that it was organized to showcase the commitments and achievements in the place of financial inclusion in Nigeria. He also said it will be an opportunity to discuss the prospects and possibilities of boosting financial inclusion.

The President and CEO of Accion Mr Michael Schlein believed the entire globe was in a golden age of financial inclusion.

According to him "We are witnessing an explosion of data and data analytics", which will drive financial services.

Mr Schlein asserted that the deployment of fintech, was vital for financial inclusion. According to him there was a great outlook for the industry, with strategic collaborations between micro finance banks and fintech companies. 

Schlein applauded the current nationwide strategy of Nigeria in driving its 2020 financial inclusion plan. 

Representing the Central Bank Governor, Dr Mudashiru  Olaitan a Director(Development Finance) described financial inclusion, as an important tool to reducing poverty and boosting prosperity.  

Dr Olaitan assured stakeholders that the CBN was focused on leveraging on payment services, and encouraging collaboration between financial institutions to push financial inclusion. 

The financial seminar also featured two panel sessions on “Making Financial Inclusion a Reality in Nigeria. 

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