The Central Bank of Nigeria (CBN), yesterday in Abuja unveiled four policy document, which will ostensibly facilitate the attainment of the financial inclusion target of 80 percent by the year 2020.
The four policy documents were unveiled by the CBN Governor, Mr Godwin Emefiele at a national financial literacy stakeholders’ conference. They are the revised National Financial Inclusion Strategy, the Financial Literacy Framework, the Consumer Protection Framework and the Consumer Education Framework.
“We are working very hard to attain the 2020’s 80 percent financial inclusion target. The idea is to reduce the number of eligible adult Nigerians that re excluded from the formal financial ecosystem to 20 percent,” Emefiele, who was represented at the event by Deputy Governor, Financial Systems Stability, Mrs Aisha Ahmad said.
According to the apex bank Governor, the Consumer Protection Framework was developed to provide policy direction for the enthronement of a robust consumer protection regime in the banking and financial services industry.
He also explained that the National Financial Literacy Framework, would provide a high-level road map for the implementation of various financial literacy programmes for different identified target groups of the Nigerian population. “The National Financial Education Strategy was developed to operationalise the National Financial Literacy Framework,” he added