Monday, February 19, 2018 9.00AM / Proshare WebTV
The Securities and Exchange Commission (SEC) has
said that it aims to achieve increased financial inclusion of Nigerians by the
year 2020.
Acting Director General of the SEC, Dr. Abdul
Zubair stated this during a financial inclusion sensitization campaign held in
Karshi, Abuja weekend.
Represented by Director Market Development
Department of the Commission, Mr. Abdul Bello, Zubair said that having recorded
huge success in Bwari, Kuje Area Councils and University of Abuja, it became
pertinent that the programme be extended to other communities to reach
more Nigerians
He said “Financial Inclusion as we all know is to
ensure that various products at affordable costs are made available to the excluded.
This is why we have carried this enlightenment campaign to karshi so
that the excluded will have an understanding of the available products in the
Nigeria Capital Market. Our target is to have 80% citizens to be
financially included by the year 2020 and
“Because of the importance SEC and indeed
stakeholders of financial inclusion attach to reaching out to the excluded, our
sister Organizations are here to equally give us brief on products that are
available in other Financial Services Sector.
Specifically, we have CBN, NDIC, to talk to you
about Money Market. NAICOM to talk about Insurance and PENCOM to give
advice to the working class and general public on the benefits of investing in
Pension Products”.
Zubair used the opportunity to remind Nigerians of
the free e-dividend registration exercise currently going on till February 28,
2018 and urged them to approach their bankers or registrars to enroll to enable
them receive their dividends electronically.
In his goodwill message, representative of the
Central Bank of Nigeria, CBN, Mr. George Ogudu told the participants that with
financial inclusion, they will be able to manage their money more efficiently
and also have opportunities of accessing various loans in order to build their
businesses.
He however emphasized that the loans are not free
money but loans to assist small businesses thrive.
“The money is not free, it is a loan. But it is
different from the one you have to go through cumbersome processes in the
banks. Now government is giving out loans with little interest and you do not
need a collateral. All you need to do is to form small market women groups or
co-operatives. But you need to have an account to access the money.

“Now with your mobile phone number and passport
photograph you can open an account, no need for utility bills and other
identification. Open an account and be saving money in it gradually then you
can qualify to apply for a loan through your co-operative society” he added.
Also, Lasbery Lot of National Pensions Commission
(PenCom) said it is important for Nigerians to save some money while they still
have the strength to work so that when they become old or too weak to work they
will have pension savings to fall back on.
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