CBN intends to reach 25,000 Ebonyi women and youth for financial inclusion

The Central Bank of Nigeria (CBN) said on Tuesday that its one-week digital financial inclusion drive in Ebonyi would target 25,000 women and youths.

Mr Philip Yusuf, Director, Development Finance Department of the bank, stated this at Onueke, the headquarters of the state’s Ezza South Local Government Area, during the launch of the state’s digital financial inclusion drive for women and youths.

Yusuf, who was represented by the Controller of the bank’s Abakaliki branch, Mr Christopher Adayi, stated that the drive would provide the bank with an opportunity to reach the state’s non-banking population.

“We would provide them with the tools they need for economic empowerment and financial inclusion.”

“Financial service providers would assist unbanked women and youths in making informed decisions about banking product purchases.”

“Among these uptakes are savings accounts, micro pensions, micro insurance, Bank Verified Numbers, and National Identification Numbers, among others.”

According to the CBN branch controller, women and youth will also be educated on investment opportunities and how to grow their finances sustainably.

“Financial inclusion is also important for households and businesses because interacting with formal systems allows individuals to keep their finances safe in savings accounts.”

“The intervention also allows businesses to access available credit opportunities, loans, and encourages investment habits,” he added.

He revealed that the drive would take place in five LGAs across the state in order to reduce some inherent barriers, such as long distances to financial access points, among other things.

Gov. David Umahi urged women and young people in the state to support the program because of its inherent benefits.

Umahi, represented by Mrs Chinwe Okah, state Commissioner for Women Affairs and Social Development, stated that financial inclusion will allow them to access several government economic packages.

“The government will support the program, and I direct that this message be spread to all parts of our rural areas in order to achieve the intended goals,” he said.

Mr Ken Eze, Chairman of Ezza South LGA, praised the CBN for the initiative and promised that the area’s women and youths would strongly support it.

According to the News Agency of Nigeria (NAN), the theme of the drive is ‘open an account, get a better life.’