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Nigeria to host confab on financial inclusion

Nigeria’s maiden International Financial Inclusion Conference (IFIC’22) will bring together experts across the world to examine the opportunities that could accelerate financial inclusion objectives.  The…

Nigeria’s maiden International Financial Inclusion Conference (IFIC’22) will bring together experts across the world to examine the opportunities that could accelerate financial inclusion objectives. 

The National Financial Inclusion Steering Committee headed by the Central Bank of Nigeria (CBN) said the conference with the theme: ‘Financial Inclusion for all: Scaling Innovative Digital Models,’ is the first to be held since the country launched its National Financial Inclusion Strategy (NFIS) in 2012.

This was disclosed in a statement issued by Dr. Paul Oluikpe of the National Financial Inclusion Technical Committee, yesterday.

The NFIS set the target for financial inclusion in Nigeria at 80.0% by 2020. Since its launch, advancements have been recorded in financial inclusion, resulting in the exclusion rate dropping from 46.3% in 2010 to 35.9% in 2020, according to the Access to Financial Services Survey conducted by EFINA. The national target for inclusion has since been revised to 95% by 2024.

According to the statement, the Chair of the National Financial Inclusion Steering Committee and Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele said the conference will create a platform to spotlight other countries’ experiences.

“We are excited to host the maiden International Financial Inclusion Conference in Nigeria. The conference presents a unique opportunity to showcase our financial inclusion journey, particularly the innovative use cases that continue to emerge within the dynamic payments and financial system in the country. These will be important as we work to ensure 95% of Nigerians are financially included by 2024,” he said.