SEC Commends CBN on Financial Inclusion drive

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Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda stated this in Gombe during the finals of All-Financial Institutions Football Competition, organised with the support of the Nigeria Football Federation.”

*Photo: Mr. Lamido Yuguda*

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The Central Bank of Nigeria has been commended on its financial inclusion drive which it is pursuing through various channels especially with the hosting of a football competition between financial institutions in different locations across Nigeria. 

Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda stated this in Gombe during the finals of All-Financial Institutions Football Competition, organised with the support of the Nigeria Football Federation.

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Represented by Mr. Daiyabu Kurfi, Director Office of the Director General, Yuguda said the hosting of the football competition yearly by the apex bank is a sign of commitment and determination to ensure that more Nigerians are financially included. 

On the performance of the SEC Football team who finished Second Runner up at the competition, Yuguda commended their performance saying “The match went very well and our footballers tried their best, as defending champions to get to the finals again this year.

“In every match there is always a winner and a loser. The last time we did very well and got the trophy, this time, even though we are the second runner up we still thank the team for performing very well and we are proud of them

Yuguda stated that the competition is very good as it helps to create awareness on some of the initiatives of the apex bank to those in the grassroots.

“This is very good as it will aid financial inclusion. There is financial awareness in these places where the match has been played. There have been various initiatives in the polity like the redesign of the Naira and this is another opportunity for the apex bank to drive home these messages to the grassroots. I think this is highly commendable and should be sustained” he added. 

In his remarks at the event, the CBN Governor, Mr. Godwin Emefiele said the apex bank’s commitment to making positive contributions to the promotion and development of football as well as increasing the tempo of financial inclusion remained the major reason for sponsoring the competition annually.

Represented by Gombe Branch Controller Shehu Goringo, the CBN governor said his administration would continue to tackle financial inclusion from the grassroots.

Emefiele said, “Let me use the opportunity of this final to reiterate our dedication to building a robust payment system in Nigeria, and ensuring greater financial inclusion, particularly at the grassroots.  It is in this vein that the CBN, in October 2021, deployed the first Central Bank Digital Currency in Africa, the e-Naira which is facilitating our goal of ensuring greater financial inclusion through the adoption of digital channels and providing a reliable channel for remittance inflows into the country.”

He said, “A key focus of the CBN is also supporting the growth of the digital economy. Since the launch of the eNaira, we have recorded more than 840,000 downloads with over N4billion worth of transactions. The eNaira will ensure that even Nigerians in the most remote areas conduct financial transactions using their digital devices at very little or no cost.

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