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CBN targets 4,000 for financial inclusion

To strengthen consumer protection in the financial system, the Central Bank of Nigeria (CBN) says it plans  to bring 4,000 people into financial inclusion net , especially in the Northern part of the country.

Speaking at the 2018 financial inclusion drive in Abuja yesterday, Branch controller, CBN , Elizabeth Agu, said that Deposit Money Banks (DMBs) in the Federal Capital Territory (FCT) now have a target of attracting nothing less than 1,500 new customers for savings account while Microfinance Banks (MFBs) has a target of 2,500 customers for 2018.

“Financial service providers at the state level are to achieve at least 80 per cent inclusion of adult population by the year 2020 and the target that has been set for us in the FCT is that DMBs should have 1,500 new customers for savings account, while MFBs should have new customers numbering up to 2,500”, she said.

She stated “Total credit customers from DMBs should be up to 600 new customers while the MFBs should have a thousand customers. This is supposed to be pursued by DMBs and MFBs in the capital territory.”

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