As reported by ‘Vanguard’, Godwin Emefiele, the Governor of the Central Bank of Nigeria, has recently expressed optimism that the apex bank would soon achieve the 85 percent financial inclusion rate target in Nigeria. According to him, the nation’s current rate is slightly below 70 percent. The statement was made by Emefiele at the headquarters in Abuja while hosting the delegation of Executive Directors from the Bank of Uganda, who were on an experience sharing tour of the CBN’s Central Bank Digital Currency, CBDC, project.
During his remarks, Emefiele noted that CBN was committed to accelerating the rate at which those who were financially excluded could come into the formal banking sector, and he also expressed satisfaction that the country’s Central Bank Digital Currency, the eNaira, had recorded some level of success judging by the rate of integration and security features, adding that the CBDC will enhance the relationship between mobile banking and e-business and speed up the rate of financial inclusion.