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CBN Set To Implement Financial Literacy Framework

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13 years ago

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The Central Bank of Nigeria (CBN), says it will implement a
Financial Literacy Framework in the first quarter of 2013 to enhance financial inclusion
of the unbanked.

Director of Consumer
Protection Office (CPO) of CBN, Mrs Umma Dutse,
said this in an interview with newsmen yesterday in Lagos.

Dutse said that the proposed
implementation would enhance consumer protection and lead to higher financial
inclusion of the unbanked.

The CBN, had in June, said
that the proposed implementation of the National Financial Inclusion Strategy
was to reduce the number of Nigerians who had no access to financial services.

It also said that it planned
to reduce the unbanked from 46.3 per cent to 20 per cent by 2020.

CBN
said that priority was being given to designing of the framework to educate the
Nigerians and improve their understanding of financial products.

It
is also to develop their skills and confidence to become more aware of
financial risks and opportunities.

Dutse
said that the plan was as a result of complaints from consumers of financial
products of the banks.

She
said that CBN had created the CPO in the Financial Policy and Regulatory
Department to enhance its responsibility of consumer protection and make it
more efficient and effective.

The director said it had received and treated over three
thousand complaints since the creation of the department.

According to her, this gave rise to refunds of over six
billion naira by the banks as at October, 2012.

She said that CBN, in collaboration with other financial
service regulators had promoted the Nigerian Financial Ombudsman Bill (NOFB).

Dutse said that the bill was before the National
Assembly and urged stakeholders to ensure its early passage.

She said that the bill would in no small measure promote
financial inclusion.

NFOB is the legal framework for the establishment of

Office of the Financial Services Ombudsman (OFSO) which is charged with the
responsibility of resolving financial and related disputes in the financial
sector.

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Kenyan Runners Dominate Berlin Marathons

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9 hours ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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9 hours ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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9 hours ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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