CBN Unveils New Policy to Achieve 80% Financial Inclusion
James Emejo in Abuja
The Central Bank of Nigeria (CBN) yesterday unveiled the National Financial Inclusion Strategy designed to ensure that at least 80 per cent of Nigerians have access to banking and other financial services. The Governor of CBN, Mr.
Godwin Emefiele, represented by the Deputy Governor in charge of Financial System Stability, Mrs. Aisha Ahmad, made the presentation at the National Financial Literacy Stakeholders’ Conference in Abuja. Emefiele said about 36.8 per cent of eligible Nigerian adults
currently do not have access to financial services, adding that the figure indicated a significant improvement over the 41.6 per cent exclusion rate recorded in 2016. He noted that although the improvement was encouraging, “there is still considerable work to be done to achieve the overall
20 per cent target exclusion rate by 2020.” Emefiele said the apex bank had also released new policy frameworks on consumer protection, financial literacy and financial education. He said, “Adequate consumer protection is critical to sustaining the long term viability of
the financial sector because consumer protection is a necessary precursor to building and maintaining trust in the formal financial sector. “An essential pillar of any consumer protection regime is consumer education, which is founded on financial literacy. “The benefits of a financially
literate population are immense. Consumers are better equipped to make optimal choices in the use of financial products, pose lower credit and default risk. “In addition, it constitutes a market for sustainable financial services and promote Financial Continued on page 10
FG Accuses Discos, TCN of Using Substandard Power Equipment
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Senators Indict Buhari, Argue 1983 Coup Bane of Nigeria's Development... Page 11
FG’s Lobby Collapses as Atiku Arrives America Holds talks with US officials US Senate condemns effort to politicise security and law enforcement agencies, calls for credible election in Nigeria Adedayo Akinwale in Abuja and Martins Ifijeh in Lagos The intense lobby by the federal government to get the United States to deny the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, visa eventually collapsed yesterday as the
main opposition party’s torch bearer landed at Washington Dulles International Airport last night. He was received by his associates and the Diaspora supporters. The Minister of Information and Culture, Alhaji Lai Continued on page 10
Buhari Promises Not to Abuse Nigerians’Trust Says we have properly secured Nigeria
Omololu Ogunmade in Warri President Muhammadu Buhari yesterday in Warri, Delta State, told the crowd, which received him at the All Progressives Congress (APC) presidential campaign rally that he would
not abuse the trust of Nigerians. He also told the crowd to reflect on the state of the country in 2015, when he took over power and compare it with what his administration Continued on page 10
El-Rufai Draws Battle Line with Kaduna Christians
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IN GOD’S OWN COUNTRY… Presidential candidate of the Peoples Democratic Party, Alhaji Atiku Abubakar (left), and Senate President Bukola Saraki, at Washington Dulles International Airport, Dulles, United States…yesterday