Weak Infrastructure, Low Income, Others Hampering Digital Financial Integration – THISDAYLIVE


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James Emejo in Abuja

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said the existence of low-level formal financial services, low income, and financial illiteracy, underdeveloped technology ecosystem and weak infrastructure have continued to undermine the potential for the integration of digital financial services in the country.

The central bank governor said although considerable gains had been achieved in boosting financial inclusion to 64 per cent, the inclusion rate was slowing down the digital transformation wheel, adding that, “all citizens must be carried along to optimise the gains of a digital economy.”

Speaking at the opening of the 28th annual In-house Executive Seminar of the apex bank with the theme: “Digitalisation of Money and Monetary Policy in Nigeria,” the…

Source: Thisday Newspaper