Inlaks Supports CBN’s Financial Inclusion Strategy


    By Emma Okonji

    Inlaks, a system integrator, has reiterated its commitment to the Central Bank of Nigeria’s financial inclusion strategy.

    Giving reasons for the company’s commitment to the CBN’s strategy, its Managing Director, Mr. Femi Adeoti, said

    this when he delivered a keynote address at the Nigerian ICT Impact CEO Forum and African Digital Awards in Lagos, where he bagged the ICT Man of the Year award.

    At the event where Inlaks was named ICT conglomerate of the year, he said the CBN’s approval given to Inlaks to function as a Super-agent in the nation’s financial services system was also part of the effort to bring financial services closer to the people.

    Adeoti, who was represented by the Director of Value Added Services, Oladimeji Talabi Koyejo, said the organisation through the provision of its services to the people, remained committed to extend the frontiers of CBN’s financial inclusion in Nigeria.

    “We are committed to the CBN’s financial inclusion agenda most importantly in the areas of poverty reduction, employment generation, wealth creation, improving welfare and general standard of living of Nigerians,’ he said.

    In his address, Adeoti, explained that 61 per cent of adults in the country currently excluded from the formal financial systems were under the age of 65 years.

    To attract these set of Nigerians into the formal financial system, Adeoti listed agency banking, mobile banking, electronic wallet, internet banking, call centre banking and the ATM as some of the requisite channels that would make it possible to bring Nigerian adults closer to the fore front of financial development. “Mobile payment technology has become increasingly significant, especially in the context of developing economies, where many low income households and micro enterprises do not have ready access to financial services,” he said.

    According to him, with an impressive customer base including six central banksin West Africa, 18 of the 24 commercial banks in Nigeria and other major customers in the West African region, the company has become the dominant information technology company in Africa.

    Adeoti, concluded that Inlaks would work closely with the CBN and other stakeholders to reach the underserved population, as well as the financially excluded, in order to ensure that informal workers in Nigeria have access to affordable financial services through its agent network.

    The agent network is expected to also address social challenges in key areas such as health, insurance, credit accessibility, savings and wage payment.