Central Bank of Nigeria unveils strategy to achieve 80% financial inclusion

Monday, January 14, 2019

By Elizabeth Adegbesan

The Central Bank of Nigeria, CBN, yesterday, unveiled the revised National Financial Inclusion Strategy designed to ensure that 80 per cent of Nigerian adults have access to financial services by 2020.

The CBN stated that “the major goal of this revised strategy is to reduce the proportion of adult Nigerians that are financially excluded to 20 per cent in year 2020 from it baseline figure of 46.3 per cent in 2010.

“The two overall financial inclusion targets were 80 per cent overall (formal and informal) financial inclusion and 70 per cent formal financial inclusion by 2020.”

Photo courtesy of fsecart.

Source: Vanguard Newspapers (link opens in a new window)

financial inclusion, public policy