The Federal Government, yesterday, said it has commenced implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.
To this end, it has has established an inter-agency task force to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.
Speaking at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI), Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.
“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement. Financial inclusion is not just about having a bank account – it means access to quality services, credit, and the visibility that digital platforms offer,” he said.
Senator Hadejia cited recent discussions that were held at the World Bank Spring Meetings, noting: “The whole conversation was about India and what it has been able to achieve in lifting its population out of extreme poverty through financial inclusion.”
Earlier, the committee’s secretary, Dr. Nurudeen Abubakar Zauro, who also serves as Technical Adviser to the President on Financial Inclusion, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.
“An inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu,” he said.
The inter-agency task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office (NASSCO), National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN), and the Nigeria Inter-Bank Settlement System (NIBSS). Their goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.
