Nigeria: LBS Launchs Digital Financial Services

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Dec 2017
Nigeria, December, 16 2017 - In a statement made available to The Nation, the LBS appealed to governments at all levels and relevant agencies in Nigeria to work together and execute policies that would promote financial inclusion in the country.

The Lagos Business School (LBS) has said Nigeria’s development agenda must incorporate digital financial inclusion, hence the launch of the digital financial services by the school.

The Financial Inclusion Conference 2017 was organised by the LBS in collaboration with the BusinessDay, Microsave and the International Finance Corporation (IFC)

In a statement made available to The Nation, the LBS appealed to governments at all levels and relevant agencies in Nigeria to work together and execute policies that would promote financial inclusion in the country.

The Dean of the school, Enase Okonedo, said that financial inclusion had become a global trend hence the need to organise the conference so that Nigeria could achieve the desired objectives of the policy.

He said the Sustainable and Inclusive Digital Financial Services initiative of the LBS launched the Digital Financial Services in Nigeria, adding that the report contained evidence-based insights on the state of financial inclusion in the country.

According to him, using consumer demographic profiles, the report describes the characteristics of potential financial service- customers and also presents an examination of the policy and legal statutes guiding financial inclusion, while proffering market-enabling strategies for attaining the Central Bank of Nigeria’s commitment of 20 percent financial inclusion by 2020.

Board Chairman of EfinA, Modupe Ladipo, said consumer protection was essential in financial inclusion as different consumers have different needs. “As a matter of necessity, we need to embark on research to know what our diverse populations of consumers want. Let us move from office-led practice of operations to a consumer-led practice,” she counselled.

Ladipo who insisted Nigeria must meet global standards of operations, urged regulators to be more flexible and drive policies that would satisfy customers.



Source : The Nation
 

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