Financial literacy: EFInA spends $18m on awareness creation
Literacy
By Rukayat Moisemhe and Olawunmi Ashafa
Lagos, Sept. 25, 2018 (NAN) Mr Segun Akerele, the Chairman, Board of Enhancing Financial Innovation and Access (EFInA), says the organisation has spent between 17 million and 18 million dollars for awareness creation on financial literacy in the country.
Akerele disclosed the figure on Tuesday in Lagos at a media forum on how EFInA and
financial services providers could stimulate the growth of financial
inclusion, especially to the critical masses.
The News Agency of Nigeria (NAN) reports that EFInA is a financial sector development organisation that promotes financial inclusion in Nigeria.
Akerele said that Nigeria was 41 per cent financially excluded populated country, while the effort was to reduce it by 12 per cent by 2020.
According him, the focus areas include agent networks, electronic payment, financial inclusive products and services, especially across northern Nigeria, women and financial literacy projects.
Akerele said EFInA would consider projects that would raise awareness of the proposed financial products or services and increase the ability of the under-banked to use the products or services.
“These proposed projects should incorporate appropriate consumer protection and redress mechanisms,” he said.
A financial expert, Mrs Nimi Akinkugbe, said there was the need for government to continually improve public confidence and trust.
Akinkugbe said the media could help build trust that could in turn lead to financial inclusion.
She also said that there should be more efforts centered on simplifying processes involved in financial inclusion.
She also said money games should also be used to educate Nigerians to be literate on their finances.
Akinkugbe said that media should see itself as a critical partner in financial inclusion, adding that the educational system, government agencies and research institutions should work with media to heighten public awareness and understanding of financial matters. (NAN)
ARM/AWA/TÁ
Edited by Tajudeen Atitebi