CBN Creates Awareness On Financial Inclusion

The Central Bank of Nigeria (CBN ) has embarked on a road show to create more awareness on financial inclusion and to commemorate Global Child and Youth Finance Week.

The Director, Consumer Protection Department of CBN, Hajia Umma Dutse, last Monday in Abuja, said it was the first time Nigeria formally participated to mark the event.

The director was represented at the occasion by her deputy, Hajia Khadijah Kasim.

The Child and Youth Finance Week is an initiative of Global Child and Youth Finance Movement and it is celebrated worldwide.

It is aimed at ensuring that children and youths have access to safe and trustworthy financial services, have skills, knowledge and opportunities required to use these services responsibly and prudently.

Dutse said the commemoration was to create financial awareness and to engage children and youths on topics of finance.

She said that the event was part of series of activities identified in financial inclusion framework as veritable means of creating financial education and awareness amongst children and youths in Nigeria.

“The children and youths are the future leaders in whom the destiny of our great nation lies. In them lies the fulfilment of our vision of an economically developed and prosperous nation,” she said.

According to her, Nigeria joins the comity of nations that have accepted and adopted the idea of financial inclusion.

“The CBN was among financial regulators from 20 developing countries that made a commitment to the advancement and promotion of financial inclusion amongst its citizenry in Rivera Maya, Mexico.

“Nigeria made a commitment to reduce the number of Nigerians that are excluded from the financial system from 46.3 per cent to 20 per cent by 2020,” Dutse, said.

Dutse stressed the need for the creation of adequate awareness to enable the informal sector participate effectively in financial inclusion.

“We must therefore increase the awareness and understanding of financial products and services, enhance efficient usage of financial resources.

“It will also empower Nigerians with the knowledge to make informed choices and take effective action that will enhance their financial well-being.

“By so doing, we would empower them with the confidence to be part of active participants in the formal financial system”.

She said that children and youths had been captured as target group in financial literacy framework of the financial inclusion.

The director called on Nigerians to inculcate and develop positive attitude from early age to enable them become financially independent, capable and prudent leaders.