Economy

40% of Nigerians Still Financially Excluded, Says NDIC CEO

•Corporation To Partners NIPSS Alumni
Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, on Tuesday, lamented that an estimated 40% of Nigerians are presently either financially excluded or operate outside the formal financial system.
Receiving members of the Alumni Association who paid him a courtesy visit at the head office of the corporation, Ibrahim called for close collaboration with the Alumni Association of the National Institute (AANI) for the rapid economic development of the country.
He called on the association to partner with the corporation to accelerate the pace of financial literacy and financial inclusion among the Nigerians, assuring that the corporation, in close collaboration with the Central Bank of Nigeria (CBN) will continue to support the introduction of affordable products and services not only to the general public but also to vulnerable women and dwellers in rural communities.
As part of efforts to achieve the desired level of financial inclusion in the country, the NDIC boss expressed the corporation’s commitment to supporting the introduction of new channels of providing financial services such as agency banking, payments service banks, and mobile banking among others. These, he continued, will enable small depositors to access financial services across the country.
He, therefore, called on the general public, especially retired senior public servants and retired bankers to acquire agency banking and microfinance banking licences so as to make modest contributions to the growth and promotion of these services in their respective communities.
He recalled that the NDIC was established in 1989 to promote public confidence in the banking industry; contribute to the stability of the financial system, while ensuring an orderly resolution of failed financial institutions.
Reacting, the AANI’s president and former Inspector General of Police, Mohammed Dikko Abubakar, said the purpose of the courtesy visit was to identify with Ibrahim, who is also an alumnus of the National Institute, and how he has piloted the affairs of the corporation since his appointment. He eulogised the MD/CE for the remarkable strides the corporation had made under his exemplary leadership.
He assured the MD/CE that the association is ready to partner the NDICto sensitize its members on the importance of financial inclusion to achieve its goals for the rapid socio-economic development of the country.

Photo captionL-R Front Row; ED Ops, NDIC, Prince Aghatise Erediauwa; MD NDIC, Umaru Ibrahim; Alumni President, M.D. Abubakar; VP Alumni Institute, Haj Aisha Dakani; R-L Second Row; Director, Administration, Kabir A. Bashir; Comrade Isa Aremu; Publicity Secretary, Dr Ogbonna Onyeisi; Welfare Secretary, Amb. Christy Mbonu; S. A. to President, Bar. Kenmi Olomida; Dr. Nat Adeyemi; Legal Adviser, Air Commodore Ademola Onitiju.

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