2019-06-28 | OFI/DIR/DOC/GEN/020/252

Letter to all Microfinance Banks (MFBs) on the Revised National Finacial Inclusion Targets

The Central Bank of Nigeria (CBN) is urging microfinance banks (MFBs) to intensify efforts to achieve the country's National Financial Inclusion Strategy (NFIS) target of 80% by 2020. As of 2018, 63.2% of adult Nigerians were financially served, leaving a gap of 36.8%. To address this, CBN set a goal for each MFB branch to acquire 64 new customers per month, or 774 new bank accounts per branch per year.

Nigeria

Central Bank of Nigeria

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