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Financial Inclusion Does not only mean Walking into a Bank or Using a Phone to Make Transactions – NDIC

NDIC

SARAH BOLAJI

The managing director and CEO of Nigeria Deposit Insurance Corporation [NDIC] Alhaji Umar Ibrahim said that the Central Bank of Nigeria [CBN] financial inclusion strategy is more than having engagements with the bank.

Ibrahim said, “Financial inclusion does not only mean walking into a bank or using a phone to make transaction, but also allowing the citizen to be able to access information, get help, and get a soft loan in a very responsive and responsible manner, for a sustainable livelihood”.

He added that part of the emerging trends in the global banking space are the advent of blockchain technology.

Ibrahim who spoke in Abuja at a meeting with the Senate president, Ahmed Lawan, added that NDIC “is working very hard to achieve that.

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While reiterating that the issues of fraud and forgery in the banks especially cyber-crime are being engaged, he said:

“We are working hard with stakeholders to minimise incidences of cyber-crime in our banking system.

“The banks are being encouraged to ensure that they have a fool-proof cybersecurity system, to minimise the incidences of hacking, which results in serious losses to the banking system as well as the loss of earnings and confidence.”

The Senate President pledged the Senate’s commitment to healthy financial institutions in the country.

Lawan said the Senate was committed to a stable economy, which could only be achieved through a collaboration of all players in the financial services sector.

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