Vice President Kashim Shettima unveiled the Federal Government’s initiative to integrate over 20% of unbanked Nigerians into the banking system during a two-day National Stakeholders’ Workshop on Economic and Financial Inclusion in Abuja.
Shettima highlighted that currently, over 20% of Nigerians are financially excluded, and the government aims to reduce this number to a minimum of 5%.
Former Governor of the Central Bank, Sanusi Lamido, now the 14th Emir of Kano, attributed banditry and other security challenges in Nigeria largely to financial exclusion, emphasizing that many rural dwellers lack access to efficient payment systems.
The workshop convenes experts from various sectors, including Central Bank Governor Olayemi Cardoso, traditional rulers, and private sector players, to strategize on integrating the unbanked population into the formal financial system.
Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, stated that the Federal Government is committed to addressing poverty and insecurity by promoting economic and financial inclusion for all Nigerians.
President Bola Tinubu approved the commencement of the first phase of the Consumer Credit Scheme (CCS) to empower Nigerians with access to goods and services.
Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, described the CCS as vital for economic stability and enabling Nigerians to pursue their aspirations through essential purchases such as homes, vehicles, education, and healthcare.