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CBN: 36.6m Nigerians have no access to financial services

CBN: 36.6m Nigerians have no access to financial services
January 16
08:47 2019

The Central Bank of Nigeria says it has received information that 36.6 million Nigerians have no access to financial services.

In a statement released on Monday, the apex bank said it would host a conference for national financial inclusion stakeholders in Nigeria.

The conference, which aims to facilitate the 80% financial inclusion target, is scheduled to hold on Thursday, January 17 and Friday, January 18.

“Policy documents to be unveiled at the conference expected to attract over 400 delegates are the Revised National Financial Inclusion Strategy (NFIS 2.0), the Financial Literacy Framework, the Consumer Protection Framework and the Consumer Education framework,” the statement read.


“Other objectives of the two-day conference to be declared open by the CBN Governor, Godwin Emefiele are to update participants on the growing sophistication of the financial market, the competitive environment in which financial services providers operate, and the benefit and value of providing access to financial services among others.

“While hoping to enhance consumer confidence and trust in the financial services to facilitate progress towards achieving 80% financial inclusion target by 2020, the CBN and other stakeholders also seek to obtain customer feedback on how best to implement financial inclusion policies.

“Latest figures released by Enhancing Financial Innovation and Access (EFInA) indicate that 36.6 million Nigerian adults, representing about 36.8% of the Nigerian adult population, do not have access to formal financial Services.”


The first National Financial Inclusion Strategy was launched in 2012 with aim of achieving 80% inclusion by 2020.


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