The Central Bank of Nigeria (CBN) has ordered all Deposit Money Banks (DMBs) and Microfinance banks in the country to open 7,608,180 new savings accounts to meet its financial inclusion target.
Financial institutions in all the states and the Federal Capital Territory (FCT) were given different targets.
Banks in Lagos have the highest target of 2,293,080 while those in Abuja are to attract 153,000 savings account customers.
The CBN Branch Controller in Abuja, Mrs. Elizabeth O. Agu, stated this at the inauguration of Financial Inclusion States’ Steering Committee (FISSCO).
She said the apex bank has ordered all DMB and Microfinance banks in the FCT to attract a minimum of 1,500 and 2,500 new savings customers respectively in 2018.
She also confirmed that CBN has commenced a review of the strategy document for achieving required levels of financial inclusion in the country.
“Come 2020, the CBN is targeting 20 per cent adult exclusion from financial services,” Agu said.
- The Nation