CBN develops exposure draft on financial inclusion strategy

The Central Bank of Nigeria (CBN) says it has developed an exposure draft on Financial Inclusion Strategy to improve the percentage of Nigerians keying into the cash-lite policy. The bank disclosed this in a statement issued by the Development Finance Department and posted on its website on Wednesday.
It said that the development was in continuation of its developmental role in the Nigerian economy. The apex bank said that the draft was prepared by a German-based Consultancy firm, Messrs Roland Berger, in collaboration with the Enhancing Financial Innovation and Access (EFInA) based in Lagos.
According to the bank, the strategy is aimed at reducing the percentage of adult Nigerians excluded from financial services from 46.3 per cent as at 2010 to 20 per cent by 2020. The bank said that it would not mind receiving inputs from the general public to ensure the success of the Financial Inclusion Strategy.
It said, “This is with a view to enabling them to have access to financial services, engage in economic activities and contribute to the development of Nigeria. As part of the process of consultation with stakeholders, we solicit for inputs from the public to enable the bank to finalise the document”.