CBN Moves To Ensure Digital Financial Inclusion For Women, Youths

CBN Suspends COVID-Linked Loan Relief And Raises Interest Rates To 9%
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The Central Bank of Nigeria (CBN) has moved to implement its digital financial inclusion policy for women in select states of the federation.

A statement from the CBN’ communication department, said the project is part of efforts to improve access to finance for the economic empowerment of vulnerable women in Nigeria.

Bayelsa, Ebonyi, Jigawa, Niger and Oyo States have been selected to benefit from the project as states with the highest population of financially excluded women.

The Director, Corporate Communication, Osita Nwanisiobi said the rural women will learn and have access to the use of digital financial services, savings and credit enhancement opportunities.

”The project is expected to promote the uptake of other financial products and services amongst women and youths, including insurance, pension and capital market products through agents”.

”The DFI drive for women and youths will create awareness on the
Central Bank’s Digital Currency and its benefits, credit enhancement schemes of the Government and other financial products and services”, he said.

”In addition to reducing the high statistics on women’s exclusion, the CBN’s digital financial drive is also expected to help curb restiveness amongst the youth population by exposing them to economically viable ways of improving their livelihoods and ensure they understand the need for safety of their funds within formal financial institutions”.