60% Of Nigerians Lack Access To Finance

Nigerians still do not have access to finance despite the proliferation of commercial banks in the country over the years. The Managing Director/ Chief Executive Officer, Nigeria Deposit Insurance Corporation, Mr Umar Ibrahim, stated this when he paid a courtesy visit to the President of the Senate, Ahmad Lawan, in Abuja on Wednesday. He specifically lamented that about 60 per cent of Nigerians lacked access to finance. He noted that for Nigerians to be taken out of poverty, their inclusion in financial accessibility must be ensured. 

Umar stressed the need to create the required financial accessibility for downtrodden Nigerians. He said to achieve this, more microfinance and payment service banks would have to be licensed and established at the hinterlands across the country. He said, “The issue of financial inclusion is very critical globally; we have a lot of statistics that indicate clearly that about 60 per cent of Nigerians do not have access to finance.

(Punch)