Nigeria Plans To Tackle Poverty, Insecurity With National Financial Inclusion Agenda

Nigeria’s Presidency has hinted of plans by the federal government to tackle poverty and insecurity head on across the country through financial inclusion for all Nigerians.

Accordingly, it disclosed that there are high-level talks to unveil a roadmap for integrating the unbanked Nigerian population into the formal financial system, a priority it said is one of the priorities in the Renewed Hope Agenda of the President Bola Tinubu-led administration.

Addressing newsmen on Wednesday at the State House, Abuja, ahead of a National Stakeholders’ Workshop on Financial Inclusion, Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, emphasised the administration’s commitment to an all-inclusive Nigeria under the Renewed Hope Agenda.

The two-day workshop, scheduled for Thursday and Friday, April 25 and 26, 2024, at the Banquet Hall of the State House, Abuja, aims to sensitize stakeholders and chart a course for accelerating financial inclusion efforts nationwide.

Hadejia said: “Economic and financial inclusion are essential components of President Tinubu’s agenda to assist in integrating the underserved and unbanked into the formal financial system. This will enable Nigerians to access a range of financial services at a reasonable cost.

“Such services include transaction accounts, savings, payments, transfers, credit, pension, e-commerce, and insurance (including health insurance) within proximity to their place of work or residence. Economic security underlies the principle of financial inclusion.

The Vice President and Chairman of the National Council on Nutrition, Senator Kashim Shettima, is passionately committed to supporting the successful implementation of the national financial inclusion strategy”.

Earlier, the Technical Advisor to the President on Financial Inclusion, Dr Nurudeen Abubakar Zauro, listed the calibre of attendees expected at the workshop, to include the lead paper presenter and Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso.

Accirding to him: “The CBN currently implements the financial inclusion strategy in the country. Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, will also present a lead paper on financial inclusion in Nigeria.

“We affirm the importance of subnational governments. The Chairman of the Nigeria Governor’s Forum, the Kwara State Governor, AbdulRahman AbdulRazaq, former CBN Governor and Governor of Anambra State, Professor Charles Soludo; and the 14th Emir of Kano, His Highness, Khalifa Muhammad Sanusi II.

“We also have participation from international partners, including the World Bank, Bill and Melinda Gates Foundation, and Alliance for Financial Inclusion in addition to other players in the industry. In Nigeria, we have private sector players like Fintech Associates, Enhancing Financial Innovation & Access (EFInA) and others, including traditional rulers like the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II”.

Also speaking, the Director-General of Financial Inclusion Centres, Sola Bickersteth, stressed the important role of the private sector, saying, “we want to closely collaborate with this government to make financial inclusion a reality for everyone.”

The proposed workshop is set to unveil a comprehensive roadmap aligning stakeholders towards the shared goal of financial inclusion, a critical pillar of the Tinubu administration’s economic agenda.

Deji Elumoye in Abuja

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