Connect with us

Business and Economy

Oyo to support CBN on financial inclusion  

Published

on

The Oyo State Government on Thursday pledged its readiness to support the Central Bank of Nigeria (CBN)  in actualising the 80 per cent financial inclusion rate by  year 2020.

 

Alhaji Olalekan Alli, the Secretary to the State Government, made the pledge while declaring open the inaugural meeting of Financial Inclusion State Steering Committee (FISSCO) meeting held at the CBN Office in Ibadan.

 

Alli commended the CBN for recognising the importance of  the state government in addressing the critical issue of financial inclusion that has continued to assume a global dimension.

 

“It is very important for every stakeholder to contribute to the success of this laudable initiative to further advance the economy of Nigeria as well as well-being of the people.

 

“Globally, policy makers have turned their attention to financial inclusion as a veritable tool of development and have therefore seen it as a development priority.

 

“The relevance of the attention is the realisation that financial inclusion can help poor households improve their lives and spur economic activity.

 

“ The CBN and other financial institutions should strengthen cooperative and thrift societies as well as other associations to enable wider access to capital by stakeholders.

 

“Such would also help neighborhood industries to further expand their coast and enrich our country’s economy.

 

“ This will facilitate the actualisation of the target of 80 per cent financial inclusion by the year 2020,’’ he said.

 

Alli called on members of FISSCO to take the assignment as a call to service, urging them to invest their time and resources to the cause for the benefit of the people.

 

Earlier, Mr Mustafa Olatinwo, the Branch Controller of CBN in Ibadan,  said the initiative was targeted at ensuring that 80 per cent or more of  the adult population have access to financial services.

 

“The Nigeria National Financial Inclusion Strategy was launched to reduce the percentage of adult Nigerians excluded from access to financial services from 46.3 per cent in 2010 to 20 per cent in 2020,’’ he said.

 

Olatinwo stated that the cross-cutting and diverse nature of the targeted services require collaborative efforts by stakeholders in the financial sector, especially at the grassroots.

 

He called on members of the committee to support the state level arrangement in order to achieve the objectives. 

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest News

news7 hours ago

SAD….Ex- CJN Kutigi dies at 78

Former Nigeria’s Chief Justice, Idris Legbo Kutigi  has been confirmed dead. He was aged 78. He died after a brief...

news20 hours ago

What I discussed with Nnamdi Kanu— Fani-Fayode

The Former Minister of Aviation, Chief Femi Fani-Kayode, has said that Nnamdi Kanu, the leader of the proscribed Indigenous People of...

Politics21 hours ago

Shehu Sanni formally exits APC

The senator representing Kaduna Central Senatorial District, Shehu Sani, has resigned his membership of the All Progressives Congress. The Senator...

Sports1 day ago

SHOCKING ….Another African football legend is dead

An African football legend, Rigobert Song has been reportedly dead. The late Cameronian football star passed away hours ago in...

Business and Economy2 days ago

Facebook Chairman under pressure to resign

There is high pressure on Mark Zuckerberg to step down as Facebook chairman after several major shareholders called for more...

news2 days ago

Osinbajo breaks silence on plan to sell Ajaokuta Steel Coy

Governor Yahaya Bello of Kogi State has disclosed that Vice President, Prof. Yemi Osinbajo, has given him assurance that the...

Foreign2 days ago

20 feared dead as truck’s tyre bursts on motion

At least 20 people were killed in a road smash in South Africa’s northern Limpopo province after a truck swerved...

education2 days ago

Tin metal discovered on Unilorin land—VC

 The Vice-Chancellor of the University of Ilorin, Prof Sulyman Age Abdulkareem has disclosed that large quantity of Tin metal was...

Metro2 days ago

AMAZING…. Why women patronize ‘Okrika’ underwear

The business of fairly-used female underwear now enjoy high patronage among the womenfolk in Umuahia, Abia, the News Agency of...

Celebrities2 days ago

AT LAST…..Ooni takes new wife, Olori Moronke

Ooni of Ife, Oba Adeyeye Ogunwusi, on Friday unveiled his new wife, Queen Morenike Naomi Oluwaseyi. The monarch, who made...

Advertisement

Trending

Copyright © 2018 Royal News.

%d bloggers like this: