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Inlaks raises stake in CBN’s financial inclusion target


Central Bank of Nigeria

The 2020 financial inclusion target of the Central Bank of Nigeria (CBN) has received a boost as Inlaks has reiterated its commitment to extend the frontier of the apex bank’s project in the country.  

The Managing Director and Chief Executive Officer of Inlaks, Femi Adeoti, while making the pledge, expressed the hopes that the project would make a far-reaching impact on the nation’s economy.

Adeoti, who delivered a keynote address at the Nigerian ICT Impact CEO Forum and African Digital Awards in Lagos, later bagged the ICT Man of the Year award.

At the event, where Inlaks was also named ICT Conglomerate of the Year, he said the CBN’s approval to Inlaks to operate as a Super-Agent was also part of the efforts to bring financial services closer to the people.

Adeoti, who was represented by the Director of Value Added Services, Oladimeji Talabi Koyejo, said that the organisation through the provision of its services to the people is committed to extend the frontiers of CBN’s financial inclusion in Nigeria.
“We are committed to the CBN’s financial inclusion agenda, most importantly, in the areas of poverty reduction, employment generation, wealth creation, improving welfare and general standards of living of Nigerians”, he said.
He explained that 61 per cent of adults in the country who are currently excluded from the formal financial systems are under 65 years.
To attract these set of Nigerians into the formal financial system, Adeoti listed agency banking, mobile banking, electronic wallet, internet banking, call centre banking and the innovative use of automated teller machines, as some of the requisite channels that would make it possible to bring them closer to the forefront of financial development.
“Mobile payment technology has become increasingly significant, especially in the context of developing economies, where many low income households and micro enterprises do not have ready access to financial services”, he continued.

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