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CBN’s Financial Inclusion: Nigerian Banks Get 25 Million Customers In 7-Years

The Chief Executive Of­ficer, Enhancing Financial Innova­tion & Access (EFInA), Modupe Ladipo, has revealed that the Central Bank of Nigeria’s financial inclusion scheme attracted about 25 million customers to the banking segment in the last seven years.

Ladipo said this feat highlights the success of research, advocacy, capacity building and innovation fund provisioning towards financial inclusion in Nigeria.

The EFInA boss, who spoke on the feat, said in part: “And it takes a lot to achieve such feat. We are looking at the sizes of some African na­tions. For the banks, you talk about Know Your Customers (KYC), mobile agents, and regulations. In fact, every regulation has paid its role in trying to get us to where we ought to be. The providers have also considered ways to cut their operational costs.”

She added that customer satisfaction, proper regulations and a number of innovations launched  by operators, added value to the financial inclusion and its sustainability efforts, as customers made their ways into such areas as opening bank accounts, insurance, pensions, mobile money or microfinance bank.

 

 

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