2020 Financial Inclusion Target Not Feasible, Says Central Bank of Nigeria
By Obinna Chima
The Central Bank of Nigeria (CBN) has disclosed that the country is “not on track to meet the 2020 targets set out in the National Financial Inclusion Strategy (NFIS) of 2012.”
To this end, the CBN has commenced a review of the strategy.
The central bank disclosed this in an “Exposure Draft of the National Financial Inclusion Strategy Refresh,” that was posted on its website at the weekend.
The NFIS had set two financial inclusion targets for the year 2020: an overall financial inclusion rate of 80 per cent of the adult population and a formal financial inclusion rate of 70 per cent of the adult population.