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Ecobank Digital Series: Vanguard Conferences and Economic Forum Series Partners Ecobank to Convene Digital Financial inclusion Summit

Ecobank Digital Series: Vanguard Conferences and Economic Forum Series Partners Ecobank to Convene Digital Financial inclusion Summit

Ecobank

Ecobank Nigeria, in partnership with Vanguard Conferences and Economic Forum Series have announced that it is convening a Digital Financial inclusion Summit to drive, promote and deepen financial inclusion amongst the unbanked and underbanked population in Nigeria. Current statistics shows that 84.6 million Nigerians accounting for 47% of the population are unbanked, against mobile phone penetration which is up to 94.5%.

The Digital Financial Inclusion Summit slated for October 21st, will bring together trade groups and associations with large unbanked populations and individuals within the lower rung of the society who have not seen the need to be included in the financial sector or adopt financial services through digital platforms. This is a direct response to encourage the adoption of innovative payment solutions and digital banking services in the post covid-19 era.

Announcing the summit in Lagos, Head, Consumer Banking, Olukorede Demola-Adeniyi said the Digital Financial Inclusion Summit will be a platform to discuss the need for a comprehensive alignment of policy and regulatory frameworks among regulators like CBN, NCC, NITDA to support a sustainable digital financial inclusion growth, examine key issues and ways of advancing digital financial inclusion for women, youths and MSMEs and discuss the role of interoperability in mobile payment innovation. Further she mentioned that the role and impact of agency banking for financial inclusion growth will be x-rayed as well as the need for public and private sector investments in internet infrastructure and mobile connectivity growth in rural areas.

According to Demola-Adeniyi, the digitisation of payment and financial services has become an important economic development priority with the prospect of reaching far more people with a broad range of financial services they need, to fight poverty and build resilience. She noted that new data on mobile phone ownership and internet access show huge opportunities to

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