The Central Bank of Nigeria (CBN), Monday, launched an e-learning platform called SabiMONI, aimed at promoting financial literacy and deepening financial inclusion in the country.
The platform is a fully digital national e-learning platform that provides a knowledge base for financial literacy, with the goal of training individuals to become Certified Financial Literacy Trainers (CFLT) through self-service.
Reasons
- SabiMONI platform is a step in the right direction towards achieving financial inclusion and promoting financial literacy in Nigeria. The National Financial Inclusion Strategy 2022 places high priority on financial and digital learning to enable the creation of a conducive environment for serving or ensuring the inclusion of the most excluded groups.
- It is a tool that will help individuals acquire the necessary knowledge and skills to effectively manage financial resources to enhance their economic well-being. With financially literate consumers are always able to make better financial decisions. This is a catalyst for greater financial inclusion and stability of the financial system.
- SabiMONI was conceived as an avenue for driving financial education amongst the target segment of the Nigerian population to facilitate financial education programmes for end beneficiaries. The penetration of financial literacy in Nigeria is still low, with a current rate of 64.1 percent.
- The platform will support efforts at enhancing financial inclusion through digitalization, serving as a channel for propagating Digital Financial Literacy thereby ramping up adoption and usage of Digital Financial Services. The platform will also contribute to the stability of the financial system and ultimately, economic growth and development in Nigeria.
- With the launch of the SabiMONI platform, individuals can learn about financial literacy at their own pace from their comfort zones and with ease, thereby increasing the number of experts that can be used to drive financial education in the country and beyond. Financial literacy is a prerequisite for greater financial inclusion, which would lead to the stability of the financial system and ultimately economic growth and development.
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