Answer to Question #290920 in Macroeconomics for Jordan

Question

Which of the strategy is currently being used by the Central Bank of Nigeria and how

Answer 1

National Financial Strategy in Nigeria

The central bank of Nigeria adopted the National Financial Inclusion Strategy in 2012. Financial inclusion involves providing beneficial, relevant and affordable financial services to groups or individuals excluded financially.This strategy was developed after a survey carried out in 2008 revealed that 53% of Nigerian adults were not included in the financial services. 

Financial inclusion in Nigeria has been implemented and practised through; Agent Banking, Know Your Customer Requirements, MSME Development Fund, Financial Literacy and Mobile Money Operation.