Is Cashless Policy Working? Nigerians Excluded From The Financial Sector Has Dropped To 39.7%

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The Central Bank of Nigeria (CBN), on Wednesday, said its various efforts at capturing more of the population into the formal financial system are gradually yielding fruits. According to the apex bank, the number of Nigerians outside of the formal sector dropped to 39.7 from 46.3 per cent between 2010 and the end of last year.In […]

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The Central Bank of Nigeria (CBN), on Wednesday, said its various efforts at capturing more of the population into the formal financial system are gradually yielding fruits.

According to the apex bank, the number of Nigerians outside of the formal sector dropped to 39.7 from 46.3 per cent between 2010 and the end of last year.

In a presentation at a seminar for business editors and correspondents in Umuahia, capital of Abia State, Paul Eluhaiwe, director, Development Finance Department of the CBN, said the attainment is impressive going by the target of 20 per cent by 2020.