The Kaduna State Government has successfully integrated 2.2 million vulnerable residents into Nigeria’s financial system through the signing of its Executive Order for Financial Inclusion.
This initiative, aimed at integrating underserved and underprivileged individuals into the banking sector, is expected to enhance economic opportunities for these citizens.
Governor Uba Sani, speaking at the launch of eTranzact’s new solutions, Credo and PocketMoni, in Abuja on Tuesday, highlighted the significance of financial inclusion in his state.
He noted that his administration’s focus on financial inclusion had already enabled thousands of vulnerable residents in Kaduna to access essential financial services.
Governor Sani also expressed concern that over 70% of Nigerians remain excluded from the financial system, a situation he believes hampers both economic and social progress.
He stated, “When I was elected as the Governor, the first thing I did was sign the Executive Order for Financial Inclusion. I’m happy today to announce that in the last eight months, we were able to capture about 2.2 million of our underserved, underprivileged, and vulnerable people who have been brought back to the financial services sector.”
The Governor further emphasized that these individuals now have open accounts and are benefiting from both federal and state government social integration programs.
Sani urged the Federal and State Governments to take full advantage of financial technology platforms like eTranzact, which play a crucial role in achieving broader economic prosperity for all Nigerians.
He stressed that technology can bridge the gap for underserved communities and improve their livelihoods by providing access to essential financial services.
Niyi Toluwalope, Managing Director of eTranzact, also spoke at the event, showcasing the company’s commitment to delivering secure and flexible payment solutions designed to meet the needs of diverse lifestyles and businesses.
He introduced two new innovations, Credo and PocketMoni, which aim to simplify payment processing for underserved populations.
“eTranzact is the first award-winning multi-application and multi-channel electronic transaction switching and payment processing platform, and we encourage you to come on board, go through our websites, and check out the various services we have,” Toluwalope said.
Through this initiative, the Kaduna State Government has made a significant step towards enhancing financial inclusion and fostering economic growth for vulnerable communities.