The federal government has unveiled a national financial inclusion strategy to reduce the percentage of adults excluded from financial services in the country, Vice President, Prof. Yemi Osinbajo has said.
Osinbajo, who stated this during the launch of Airtel Africa Smartcash payment service bank in Lagos, said the federal government is committed to ensuring that all Nigerians have access to financial services in the country.
He said the strategy is being pursued with broad range of interventions, saying that financial inclusion has always been a critical factor for economic growth and development in the country.
“For us, financial inclusion is not an option, but a necessity because it is the back bone for economic growth,” he said.
He added that the National Social Investment Programmes (NSIP) under the present administration rest on the stimulation and sustenance of all available channels of financial support for the people and economic growth.
The Airtel Africa’s Group Chief Executive Officer, Segun Ogunsanya, said the launch of SmartCash Payment Service Bank gives Airtel fresh impetus to continue growing its footprint in the continent and delivering innovative solutions.
“In the bank, we have the best of both worlds a hybrid of commercial bank and mobile financially services offering last mile connection to the financially excluded. Through it, we want to contribute towards driving financial inclusion in Nigeria, to empower Nigerians while transforming the payment landscape in Nigeria and the rest of Africa,” he said.
He said Airtel Africa, a leading provider of telecommunications and mobile money services with a presence in 14 countries across Africa, will deploy the smart cash payment service to provide secure and reliable financial services across Nigeria.
The Chief Executive Officer & Managing Director of SmartCash Payment Service Bank, Muyiwa Ebitanmi, said: “Through SmartCash Payment Services Bank, we aim to bridge the financial divide by providing rural and urban Nigerians access to innovative, highly secured and reliable banking services that is powered by technology and is relevant to their needs.”