Cbn banks target 50 million unbanked nigerians with san #comments

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CBN Banks Target 50 Million Unbanked Nigerians with SAN

The Central Bank of Nigeria (CBN) has launched a new initiative to target the 50 million unbanked Nigerians, with the aim of increasing financial inclusion in the country. The initiative, which is being implemented in collaboration with commercial banks, aims to provide financial services to the unbanked population, particularly in rural areas.

According to the CBN, the unbanked population in Nigeria is estimated to be around 50 million, with many of them living in rural areas. The bank believes that providing financial services to this population will help to reduce poverty and increase economic growth.

To achieve this goal, the CBN has partnered with commercial banks to establish a network of agents who will provide financial services to the unbanked population. The agents will be responsible for opening bank accounts, providing loans, and offering other financial services to the unbanked population.

The CBN has also introduced a new mobile payment platform, known as the "Super Agent Network" (SAN), which will enable the agents to provide financial services to the unbanked population. The SAN platform will allow customers to make transactions, pay bills, and access other financial services using their mobile phones.

The CBN believes that the SAN platform will help to increase financial inclusion in Nigeria, particularly in rural areas where access to financial services is limited. The bank also believes that the platform will help to reduce the cost of financial services, making it more accessible to the unbanked population.

Overall, the CBN's initiative to target the 50 million unbanked Nigerians with the SAN platform is a positive step towards increasing financial inclusion in the country.