According to the Central Bank of Nigeria (CBN) only 41.6% of Nigerians are considered to be financially included. Financial Inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.
The CBN has an ambitious goal of 80% financial Inclusion by the year 2020.
Following a grant from the Bill and Melinda Gates Foundation, Business Day is aiming to drive some of the financial inclusion conversation in Nigeria, and one of the ways is through a radio show titled Financial Inclusion Today. The show airs every Tuesday at 11.30am WAT on Silverbird’s 93.7 rhythm FM.
The shows aims to foster conversations around financial inclusion issues in Nigeria and to raise awareness by bringing together stake holders, decision makers, policy makers, Business Day financial analysts to further this cause in Nigeria.
Listen to previous episodes HERE.
In this episode titled “FinTechs Driving Financial Inclusion: Paga”, hosts Lehlé Baldé and Lolade Akinmurele speak to Tayo Oviosu, CEO. Paga is creating alternative banking solutions for all Nigerians with a total of 16 million transactions, 6,000 businesses served and 16,000 banking agents and counting.
The Enhancing Financial Innovation & Access (EFInA) identified Fintechs as a lead solution to resolving the financial inclusion gap in Nigeria. FinTechs in Nigeria are tasked to provide the unbanked population access to financial inclusive products to resolve the difficulty in carrying out financial transactions.
BellaNaija is a media partner for Financial Inclusion Today.