Nigeria’s Microfinance Banks Ready To Go Cashless

Monday, June 30, 2014

Abuja – The National Association of Micro Finance Banks (NAMFB), has expressed readiness of its members to key into Federal Government’s cashless policy.

The Executive Secretary of the association, Mr. Kabir Yar’Adua, made the disclosure in an interview with newsmen in Abuja.

He said the cashless policy was a revolution that would improve the lives of Nigerians, especially those at the grassroots.

He added that “I think this policy is a revolution for us. It is a combination of mobile banking and agency banking which is a bit ahead of even the ATM.

“The decision is good and it will benefit the market women, house wives, vulcanisers and people at the bottom of the pyramid in the country.

“As part of our role, we have embarked on capacity building and training for our members on how agency banking works and how it is being done.

Source: The Nigerian Observer (link opens in a new window)

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banking, financial inclusion, financial services, microfinance