The Governor of the CBN, Mr. Godwin Emefiele, said while inspecting the bank (NIRSAL MFB) on Wednesday in Gwagwalada, Abuja, that NIRSAL and Nigeria Postal Services (NIPOST) should be commended for their robust collaboration that led to the establishment of the microfinance bank.
“This is a collaboration between NIRSAL, Bankers Committee and NIPOST and I want to say that we really need to set up microfinance bank that will reach out to the unbanked,” he said.
Local media reports said that Emefiele stated that the feat was consistent with CBN’s plans to improve financial literacy and deepen economic development in the country.
Emefiele reiterated the apex bank’s plans to ensure that 80 percent of Nigerians are captured in the financial equation of Nigeria by 2020.
According to him, only 45 percent of Nigerians have been captured in the financial system, describing the number as low.
He said that the NIRSAL MFB would address the perennial nightmare of poor access to credit suffered by small businesses, especially those in the hinterland.