Nigeria to Create 3 million jobs by 2025 through Digital Financial Inclusion

Three million jobs by 2025 will be created in Nigeria from digital financial inclusion according to the Governor of Central Bank of Nigeria, Godwin Emefiele, IT Web Africa reports.

Speaking in Lagos at a Financial Inclusion Summit, the CBN governor called for the further digitisation of current cash payments.
The Governor said this would be achieved when there is increased adoption of digital services. “Digital Financial Services have substantial potential to promote financial inclusion, increase productivity and support economic growth in our country,” he said.

Digital financial services transcend such physical barriers as they can be availed through virtual channels such as mobile phones, which today are ubiquitous. We have noted commendable innovations in the industry today, thereby financial institutions have begun to leverage the mobile platform to open accounts and conduct transactions, enabling existing clients and previously excluded population to access financial services in a more convenient manner.

“Digital financial services can also reduce other barriers to financial inclusion, such as high cost of transaction or transportation costs while also saving valuable travel time.”