Financial inclusion hits 74%, Cardoso advocates innovation
The Central Bank of Nigeria governor, Dr Olayemi Cardoso, has called on stakeholders in the economy to be innovative in bridging the financial inclusion gap in the country. Cardoso said this on Wednesday at the launch of the 2023 Access to Finance Report by non-governmental organisation, Enhancing Financial Inclusion and Access in Lagos. The new […]
Report: Nigeria’s financial inclusion rose to 74% in 2023, northern region most excluded
Financial inclusion in Nigeria has increased to 74 percent in 2023, up from 68 percent in 2020. This was disclosed on Wednesday in a ‘2023 Access to Finance’ survey conducted by Enhancing Financial Innovation & Access (EFInA), a financial sector deepening (FSD) organization, with support from the Bill and Melinda Gates Foundation, as well as […]
Cardoso Seeks Banks, Stakeholders’ Commitment to Drive Financial Inclusion
•Report: Nigeria’s financial inclusion hits 74% in 2023 Nume EkegheThe Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has issued a call to action for all stakeholders, specifically financial institutions, for more commitment to enhance Nigeria’s financial inclusion goals. Cardoso, made the call at the Access to Financial Services in Nigeria (A2F) […]
Nigeria closer to 2024 financial inclusion target but gaps persist
Nigeria has inched closer to its 2024 financial inclusion as more Nigerians are now banked even as gaps persist. The 2022 National Financial Inclusion Strategy aims to reduce the level of financial exclusion in the country to 25 percent by 2024. Financial inclusion rose to 74 percent in 2023 from 68 percent in 2020, while […]
Nigeria’s formal financial inclusion grows to 64% in 2023, says EFinA report
The Access to Finance (A2F) survey report presented by Enhancing Financial Innovation and Access (EFInA) on December 13, 2023, at Eko Hotel, Lagos, revealed that despite challenging macroeconomic headwinds, Nigeria’s formal financial inclusion improved to 64% in 2023 from 56% recorded in 2020. The growth in financial inclusion in 2023 was majorly fueled by marginal growth in […]
45% of Nigerians use digital services – Report
The number of Nigerians that used digital services rose to 45 per cent in 2023 from 34 per cent in 2020. According to a report by EFInA released in Lagos, titled, ‘A2F 2023 Survey – Key, with the topic, ‘Unlocking insights to accelerate financial and economic inclusion’. “Forty-five per cent of Nigerians used digital financial […]
28.8m Nigerians From North Financially Excluded – Survey
No fewer than 28.8 million Nigerians, predominantly farmers and dependents, more likely to be females, and to live in rural areas in Northern Nigeria, are… No fewer than 28.8 million Nigerians, predominantly farmers and dependents, more likely to be females, and to live in rural areas in Northern Nigeria, are excluded from the financial system, […]
Financial Inclusion: CBN challenges stakeholders on infrastructure support
By Providence Ayanfeoluwa & Elizabeth Adegbesan Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that stakeholders in the economy must, among other things, address the infrastructural issues in underserved areas to achieve economic growth through financial inclusion. Speaking at the unveiling of the Enhancing Financial Innovation and Access (EFiNA) survey report titled: “Unlocking […]
CBN directs banks to raise financial products quality
The Central Bank of Nigeria (CBN) has directed banks to raise the quality of their products and services to attract more people into the financial system. CBN Governor, Olayemi Cardoso, disclosed this at the release of the 2023 EFInA Access to Finance (A2F) Survey results in Lagos. He said: “As an ecosystem, we must redouble our efforts […]
EFinA Report: Nigeria’s Formal Financial Inclusion Grows to 64% in 2023
Download A2F 2023 Survey – Key Highlights: Unlocking Insights to Accelerate Financial and Economic Inclusion The Access to Finance (A2F) survey report presented by Enhancing Financial Innovation and Access (EFInA) on December 13, 2023, at Eko Hotel, Lagos, revealed that despite challenging macroeconomic headwinds, Nigeria’s formal financial inclusion improved to 64% in 2023 from 56% recorded in 2020. […]
