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Thu, Mar

How 60% Of Nigerians Lack Access To Finance – NDIC

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The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, NDIC, Mr. Umar  Ibrahim, on Wednesday, said over 60% Nigerians still do not have access to finance despite the proliferation of commercial banks in the country over the years.

 

Ibrahim stated this when he paid a courtesy visit to the President of the Senate, Ahmad Lawan, in Abuja. He maintained that for Nigerians to be taken out of poverty, their inclusion in financial accessibility must be ensured.

 

He said to achieve this, more microfinance and payment service banks would have to be licensed and established at the hinterlands across the country.

 

“The issue of financial inclusion is very critical globally; we have a lot of statistics that indicate clearly that about 60 percent of Nigerians do not have access to finance. People travel for hundreds of kilometres before they can reach a branch of commercial or microfinance bank.

 

“There are local government areas and communities that do not have a branch of any bank. They do not have ATM machines. We are working hard to ensure that the situation is changed by addressing the problem of poverty.

 

“In achieving this, Nigeria has signed ombudsman to eradicate or to eliminate the problem of access to finance. Measures have also been taken to ensure that we gain more mileage in this area by way of establishing more microfinance banks, licensing mobile banks and the creation of agents banks," he said.

 

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