CBN’s financial inclusion drive takes effect in Jigawa

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The Central Bank of Nigeria (CBN) on Monday in Dutse, flagged off financial inclusion drive to improve access of women and youths in financial products and services in the state.

Director, Department of Development Finance of the apex bank, Abdul Ahmadu in his opening speech to mark the ceremony, said the initiative was targeted at unbanked Nigerians and other stakeholders in the Northwest geopolitical zone to enable them benefit from the opportunities and improve their welfare.

Representing the Central Bank Governor, Mr. Godwin Emefiele at the occasion, he disclosed that the first phase of the drive was held in Gombe State in the Northeast, stressing that 25,000 women and youths were engaged.

“The initiative is to improve access of unbanked Nigerians to financial products and services. We have selected your State as one of the first in this geographical zone to benefit from the opportunities available for unbanked adult Nigerians.

A copy of the statement made available to Newspot on Monday indicated that Jigawa State was first selected from the zone as a result of its peculiarity and the urgent need to introduce the targeted group to digital finance early enough and to consolidate on efforts to implement the Framework for Advancing Women’s Financial Inclusion in Nigeria.

He said the drive was not only critical to economic development as financial inclusion benefits economies as well as individuals, but it would empower the rural dwellers.

“As the Central Bank of Nigeria, we are better able to perform monetary and price stability functions when we have the entire population under the formal financial system This allows appropriate policies and interventions to be deployed for economic growth and development

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“Financial Inclusion is also important for households and businesses because interacting with formal systems allows individuals keep their finances safe in savings accounts, provides businesses the opportunities and encourages the habit of investment.”

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