6th Annual Financial Inclusion Seminar: Government Must See The Promotion of Financial Inclusion as A Necessity – MD Lapo Microfinance Bank

The Managing director of Lapo Microfinance bank, Mr. Godwin Ehigiamusoe, while speaking at the 6th annual financial inclusion seminar, organized by Accion Microfinance bank, said that the Nigerian government must see the promotion of financial inclusion as a necessity and not a matter of choice.

Mr. Godwin acknowledged that in Nigeria, there is a significant improvement in the financial inclusion rate, but however, noted that there is still so much to be done.

Speaking on the role that the government can play in enhancing financial inclusion in the country, the MD of Lapo Microfinance Bank said the government must improve it for two reasons.

The first point he mentioned is the contribution of financial inclusion to the national economy. He noted that when the government adequately includes people who were previously excluded from the financial system, they are mainstreaming them into the mainstream financial system and economic system. This will enable them to make significant contributions to the country’s economy and also enhance the condition of their living.

On the second point, Mr Godwin talked about the instrumentality of policies. He noted that the government should come up with friendly policies that support financial inclusion, especially policies that will support but not strangulate existing institutions.

He further lauded the government for the active role they are playing in reaching the ordinary people to ensure that they are financially included.

Mr. Godwin therefore urged for digital financial partnership with digital financial services, technology on one side and several other financial institutions on the other side, to integrate this into intervention programs in communities.

In the process of that, he said awareness will be created in digital finance, and that will significantly lead to the possibility of adoption of those channels by the people.