According to him, “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. In his welcome address, the Branch Controller, CBN Ibadan, Mustafa Olatinwo explained that the Nigeria National Financial Inclusion Strategy was launched to reduce the percentage of adult Nigerians excluded from access to financial services from 46.3% in 2010 to 20% in 2020. He noted that the main aim of the target is that 80% or more of adult population should have access to the use of financial services with at least 70% of the number in the formal sector. He said that the CBN has evolved an appropriate governance arrangement for the implementation of the NFIS at the state level, saying that FISSCO would now take the responsibility for achieving those targets at the grassroots. Olatinwo therefore, called on all the members of the committee to support the state level arrangement in order to achieve the objectives.

Source: The Guardian January 12, 2018 03:11 UTC