This is coming as there is a consistent global consensus on the importance of financial inclusion as key in bringing integrity and stability into an economy’s financial system as well as its role in fighting poverty in a sustainable manner. The move by the banks’ heads of electronic transactions has becomes necessary in achieving 80 per cent set goal of financial inclusion and insurance services due by 2020, even as the pace of progress is currently not as expected. He noted that it is pertinent in the case of Nigeria as a developing nation to use financial inclusion as a platform, not just for growing the financial sector, but more as an engine for driving an inclusive economic growth. He said that one of the critical initiatives in this direction was the incorporation of financial inclusion as one of the cardinal objectives of the Nigerian Financial System Strategy 2020 (FSS 2020). According to him, it represents a holistic and strategic road map and framework for developing the Nigerian financial sector into a growth catalyst that will enable Nigeria be one of the 20 largest economies by 2020.

Source: The Guardian November 20, 2017 04:18 UTC