GOVERNMENT SHOULD ENCOURAGE NIGERIANS MORE ON FINANCIAL DIGITAL INCLUSION – Ray – www.cliptvonline.com ~

Gbenga Adewale

Nigeria Government has been urged to involve and encourage more Nigerians on digital finances which must ensure everyone being poor or rich has a bank account in Nigeria.

The Chief Executive Officer for Centre for Financial Journalism,Mr. Ray Echebiri made this known on Thursday during the 5th series of The Bullion Lecture held at the Civic Center Victoria Island Lagos,on the Theme : “Driving Pervasive Broadband Penetration to Deepen Digital Financial Inclusion For Nigeria’s Social and Economic Transformation”that there is need for government to drive financial inclusion through digital finance to achieve economic growth inclusion which would not only involve the Rich ones in the country but also would include the poor because without financial inclusion in Nigeria many people would remain poor simply because they have no access to finance. While he said it is important at any point in time for the government to pursue inclusive growth in Nigeria.

The Guest Speaker, The Executive Vice Chairman of Nigeria Communication Commission,Engr. Prof. Umar Garba Danbatta spoke on the definition of financial inclusion as that individuals and businesses which have access to useful and affordable financial products and services that meet their needs,transaction,payments,savings,credits and insurance. He said nigeria government should address the issue of people being unbanked in the country because the Global Findex report showed that 3 out of 4 of the world’s poor do not have a bank account and it was not only because of poverty,but due to cost,travel distance and paper work involved.

Danbatta expressed that the lack of adequate access to formal financial services has left most people in all regions,with the exception of high income economies,borrowing from friends and family as the most commonly a reported source of credit for current loans.

Danbatta however stated that digital financial services have great potential to give previously unbanned people the ability to save,make payments and access credit and insurance also allowing them to manage an irregular income stream,plan for the future,recover from economic shocks and natural disasters and find new ways to earn a living.

The Guest Speaked added on zoom that the digital financial inclusion can help the governments to ensure that social security payments reach their intended recipients,and help merchants accepting digital payments gain new business intelligence and access lines of credit.Also informed that the NCC was committed to the promotion of widespread digital infrastructure that would spur our digital ecosystem in terms of availability,accessibility and affordability of telecoms services.

Prof. Akpan Hogan Ekpo maintained that getting out of recession in Nigeria does not mean that it has solved the whole problems in Nigeria but it was just a big issue to be excited about because there is on going security issue,Food Inflation and high unemployment rates which technically makes the Nigeria problems remain. So he called on the stakeholders to fast track and continue doing the best for the nation in order to have positive growth and move Nigeria forward. Because we are surprised at 0.11 in Nigeria. He said.

Other in attendance were Mr. Deremi Stands,President of Nig.Guild of Editors,Mr. Mustafa Isah and Mr Segun Aina.