The EFInA Access to Financial Services in Nigeria 2020 Survey shows that while more Nigerian adults are financially included, National Financial Inclusion Strategy targets were not met.
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For the first time, more than half of Nigerian adults are using formal (regulated) financial services, according to newly published data from EFInA (Enhancing Financial Innovation & Access). The EFInA Access to Financial Services in Nigeria 2020 Survey shows that 51% of Nigerian adults are using formal financial services, such as bank, microfinance bank, mobile […]
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The Deputy Governor and Chair of the Financial Inclusion Technical Committee of the Central Bank of Nigeria, Aishah Ahmad has said that women, rural dwellers and citizens in the northern area are still excluded from financial inclusion in the country despite progress achieved to date.
The Deputy Governor made this known during the launching of the EFInA (Enhancing Financial Innovation & Access) Nigeria 2020 Survey held via zoom on Thursday.
Aishah noted that the apex bank has been exerting efforts to drive financial inclusion in Nigeria by championing the development & implementation of Nigeria’s National Financial Inclusion Strategy.
The Chairman said that CBN launched a Framework for Advancing Women’s Financial Inclusion in Nigeria in 2020.
By Prince Okafor
Efforts by the Central Bank of Nigeria to drive financial inclusion across the nation is yielding result, as over 50 percent of Nigerian adults are using formal (regulated) financial services.
This was disclosed during Enhancing Financial Innovation and Access, EFInA’s, Access to Financial Services in Nigeria 2020 Survey launch, yesterday.
Vanguard gathered that this is the first time, more than half of Nigerian adults are using formal (regulated) financial services,
The survey shows that, while more Nigerian adults are financially included, National Financial Inclusion Strategy targets were not met.
The survey also indicated that growth in digital financial services and agent banking highlights opportunities to drive faster progress toward financial inclusion, particularly for excluded groups such as women, rural and Northern Nigerians.