The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have announced their collaboration to promote financial inclusion in Nigeria.
In a recent strategic meeting, representatives from both organizations discussed ways to deepen their partnership and explore innovative solutions to enhance access to finance in the country.
Mr. Folashodun Shonubi, the Acting Governor of the CBN, reaffirmed the bank’s commitment to working with the BMGF and other development partners to address the challenges faced in achieving the desired level of financial inclusion in Nigeria.
He emphasized the need for greater collaboration between the CBN and the foundation.
Mr. Bill Gates, the Co-chair of the Bill and Melinda Gates Foundation outlined the organization’s areas of focus for continued engagement in Nigeria, including health, agriculture, and financial services.
He expressed satisfaction with the impact of the foundation’s support in catalyzing developmental efforts in the country.
While acknowledging the existence of challenges and gaps, he expressed optimism that Nigeria would witness improved outcomes due to the implementation of new economic and monetary policies.
The BMGF has been supporting financial inclusion initiatives in Nigeria since 2012 and has been a strategic partner of the CBN in driving innovation to reach underserved segments of the population with financial products and services.
This partnership has resulted in various initiatives such as the Nigeria Financial Services Maps, the development and revision of the National Financial Inclusion Strategy, research on financial exclusion, and the exploration of digital financial services in Nigeria, among other activities aimed at accelerating access to financial services.
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