NCC reiterates commitment towards 80% financial inclusion target for adult Nigerians

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Umar Danbatta, Bashir Idris, Tony Ojobo
Professor Umar Garba Danbatta, Executive Vice Chairman, NCC delivering the opening remarks.

 

By Martin Ekpeke

The Nigerian Communications Commission (NCC), has reiterated that it is actively involved and committed to the implementation of the Federal Government’s National Financial Inclusion target of 80 percent adult Nigerians by 2020.

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The Executive Vice Chairman of the Commission, Prof. Umar Danbatta stated this today during a presentation at this year’s Digital PayExpo event in Lagos.

Danbatta, who was represented at the 3-day event by Bashir Idris, Deputy Director, Policy, Competition & Economic Analysis of the Commission, argues that NCC’s commitment towards financial inclusion is evident through the participation and collaboration with the Central Bank of Nigeria (CBN).

“One of the major driving force of the Commission is to provide Universal Access, especially to the underserved and unserved parts of the country. Invariably, this has a link with the overall objective of the National Financial Inclusion,” he emphasized.

The former University lecturer disclosed that as a regulator with a mandate to ensure enabling infrastructure is provided, it has established a Financial Inclusion Desk in the Policy, competition & Economic Analysis (PCEA) Department to anchor and interface with the CBN and other stakeholders in the digital financial ecosystem.

Reported percentage of adult Nigerians banking population as at 2010 was 20 percent. This grew to 46.3 percent in 2012, largely to the introduction of a number of products and channels, particularly targeted at people at the base of the pyramid, especially women and youths in the rural areas.

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