Financial Inclusion: Global Experts, Stakeholders Proffer Solutions at Int’l Conference
Nigeria, on 24th and 25th November 2022 hosted the largest convening of the Global Financial Inclusion ecosystem since the launch of its National Financial Inclusion Strategy in 2012.
The 2022 International Financial Inclusion Conference organised by the Central Bank of Nigeria (CBN) and its partners within the governance committees themed: “Financial Inclusion for all: Scaling Innovative Digital Models” had in attendance over 5000 participants from at least 78 countries around the world.
During the conference, attendees witnessed the launch of 7 key policies and products that would enable the achievement of 95% Financial Inclusion in Nigeria by 2024 such as the revised National Financial Inclusion Strategy (3.0), the Strategy for Leveraging Agent Networks for Women’s inclusive finance, the National Fintech Strategy, the Payment System Vision (PSV) 2025, the Nigeria Financial Services Maps, the CBN Regulatory Sandbox and a Fintech Bridge between the Central Bank of Nigeria and the Central Bank of Egypt.
Giving a keynote address during the conference, the Governor Central Bank of Nigeria – Mr. Godwin Emefiele who chairs the National inclusive finance Steering Committee pointed to CBN’s long-standing effort to achieve inclusive finance targets by creating enabling environments and providing support.
He said, “From 2012 to date, over 59 policies and initiatives have been implemented by stakeholders to achieve the objectives of inclusion. These policies and initiatives cut across the banking sector, the insurance sector, the capital market sector, and the institutions responsible for infrastructural development for financial inclusion in Nigeria.
We have prioritized inclusive finance through our invention for over four million smallholder farmers and SMEs creating over two million jobs. By the end of 2024, we aim to be at a 95% rate of financial inclusion in Nigeria”.
In a special keynote address by the United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance – Her Majesty Queen Maxima of the Netherlands highlighted the role to be played by the new National Financial Inclusion Strategy in providing a genuine chance for improving livelihoods, such as strategies leveraging the National Insurance Number, Bank Verification Number amongst other policies
Speakers cut across global policymakers and business leaders including Dr Alfred Hannig, Executive Director AFI, Ambassador Chad Blackman, Special Adviser to the DG ILO, Mrs Elsie Addo- Awadzi, Deputy Governor, Bank of Ghana, Mr Folashodun Shonubi, Deputy Governor Operations, CBN, Mr Herbert Wigwe, Managing Director, Access Corporation and Professor Olayinka David-West of Lagos Business School, etc
Dignitaries in attendance were His Excellency, President Muhammadu Buhari (GCFR), who was represented by the Honorable Minister of the Federal Capital Territory, Mallam Mohammad Musa Bello (CON); United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance, Queen Maxima of the Netherlands; Secretary to the Government of the Federation, Mr. Boss Mustapha; the Honorable Minister for Communication and Digital Economy, Professor Isa Pantami; the Honorable Minister of Women Affairs, Dame Pauline Tallen; the Honorable Minister for Information and Culture, Mr. Lai Mohammed; the Governor of the CBN, Mr Godwin Emefiele, and Dr Kayode Fayemi, former Chairman of the Nigerian Governors Forum and former Governor of Ekiti State a s well as Board Members of the Central Bank of Nigeria,