Central Bank of Nigeria CBN says it is targeting 25,000 women and youths in Jigawa State who have no bank account to do so in the ongoing five-day Digital Financial Inclusion.
The Head, Development finance, jigawa state branch Mr Abdul Amadu, stated this to newsmen in Dutse.
He explained that the financial inclusion drive was an initiative of the CBN and other stakeholders to improve access of unbanked Nigerians towards financial products and services.
According to him, the drive is critical to economic development as financial inclusion benefits economies as well as individuals.
“As CBN, we are better able to perform monetary and price stability functions when we have the entire population under the formal financial system.
“This allows appropriate policies and interventions to be deployed for the economic growth. He noted.
Amadu added that five local government areas of the state with no presence of financial institutions were targeted for the exercise.
He said the CBN selected Jigawa as one to benefit, taking into cognizance the LGAs that have no presence of financial institutions like Kiyawa, Miga, Roni and Buji, among others.
Earlier, Governor Badaru commended the CBN for the initiative, saying that it would help at enhancing the economy and Growth of Domestic products GDP of the state.
He said without bank accounts, this vulnerable group would not be able to benefit from interventions.
The Governor who was represented by his Deputy, Alhaji Umar Namadi pointed out that by opening bank accounts, the vulnerable groups, particularly the youths, would be able to access loans and other interventions that will enable them to establish small scale businesses.
He said, there would be an employment generation which in turn, reduce the level of unemployment in their societies.
Badaru said this would immensely assist in checking the level of insecurity in the state and the nation at large.
In a remark, the Emir of Dutse, Dr Nuhu Muhammadu Sanusi, urged the apex bank to collaborate with traditional institutions while giving loans to people.
The Emir noted that community leaders were in the best position to identify those who can pay back the loan or otherwise.
USMAN MZ, JIGAWA