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Telecommunications Financial Inclusion Committee to Set Up Plans to Mend Financial Literacy in Nigeria

TechInAfrica – Some of Nigeria’s mobile operators, including Glo, 9Mobile, Airtel, MTN, and Ntel hosted a meeting on September 4, 2018. The meeting was discussing setting up the Telecommunications Financial Inclusion Committee as well as a plan to mend financial literacy in the country.

The ideas were coming from their commitment to sharpening financial inclusion and serving Nigerians with access to a wide range of affordable financial services. Moreover, the formed committee will later operate under the Association of Licensed Telecommunications Operators of Nigeria (ALTON).

Communication Services in Nigeria
Communication Services in Nigeria via guardian.ng

In the next three months, the committee will promote a campaign to improve financial literacy, including using its assets to provide access to financial services to more than 90 million of Nigerians for over the next two and a half year, using a combined base, integrated identity systems, and distribution network. Not only does the campaign uses its assets to provide access to financial services but also works with other parties and government as a part of contribution in succeeding the national goal of 80% total financial inclusion and 70% financial inclusion by 2020.

The short-term goal of the committee is to provide financial services to approximately 35 million Nigerians and boost financial literacy as well as awareness in one year. Meanwhile, the long-term of the committee is to open access to over 90 million people within 773 local government areas by 2020. The long-term goal is expected to be accomplished through commuting 1 million airtime agents to mobile money agents.

“The inauguration of this committee is a positive and necessary first step to achieving our goals of improving inclusion and literacy. We are focused on delivering sustainable solutions to achieve long-term results. The potential of our sector’s participation in these efforts is enormous. The telecommunications subscribers database is the most comprehensive, our coverage is vast and this speaks to the potential that we have as a group to truly contribute to solving some of the challenges that have been faced so far,” stated the Chairman of ALTON, Gbenga Adebayo.

ALTON Chairman Gbenga Adebayo via techeconomy.ng

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Written by Rinchi

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