North East, least banked region in Nigeria —Advocacy Group

By AdvocateNews on 15/12/2020

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The North East Advocacy on Financial Inclusion on Monday declared the Northeast as the least-banked region with less than 30 per cent of the adult population having access to basic financial services, compared to national average of 37 per cent.

Addressing reporters at the launch of 167, 000 Bank Verification Number (BVN) Enrolment Bank Account Opening in Gombe, the group Chairman, Mr. Joel Aku, attributed the low banked level to challenging geography and decades of insurgency, leading to financial literacy crisis and lack of financial inclusion.

“The Northeast has continued to be one of the least-banked regions in the country. In a recently-released report by the Central Bank of Nigeria (CBN), on the state of financial inclusion in Nigeria, it is estimated that less than 30 per cent of the adult population in the Northeast have access to basic financial services, compared to a national average of 37 per cent,” he said.

Aku, however, said the CBN has pursued the development of financial inclusion to reach the unbanked population and to afford the usage of a broad range of appropriate and quality financial services accessible to all.

He added that the apex bank has launched the goal of achieving 95 per cent financial inclusion by 2024, as well as closing the 8.5 per cent gender inclusion gap.

According to him, “this effort by Rural Trust Fund is being supported by the CBN as a means of their undying effort to achieve significant success in the Northeast.”

“The drive for financial inclusion in the Northeast therefore aims to ensure that individuals and households, regardless of income level, can access and use appropriate financial services and products to improve living standards. The advocacy campaign will explore ways of deepening financial inclusion in Gombe, especially Gombe Central Senatorial District, by way of mass BVN enrolment so that those at the bottom of the pyramid can have better access to diverse range of financial services,” he said.

Posted 15/12/2020 8:28:09 PM


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