NCC’s New Initiatives Heading To Achieve 80% Financial Inclusion

NCC reiterates commitment towards 80% financial inclusion target for adult  Nigerians –

Yemisi Izuora

Fresh measures are being strengthened by the Nigerian Communication Commission, NCC, to realise a targeted 80 per cent financial inclusion in the country by the next four years.

Umar Danbatta, Executive Vice Chairman, EVC, of the Commission, the Commission is bolstering efforts to actualise its 80 per cent financial inclusion target while he was speaking at an event to commemorate the ‘World Consumer Rights Day’.

Oriental News Nigeria reports that about 35 million Nigerians do not have access to telecommunications services, and by implication, lack access to digital financial services, despite the need for the inclusion of digital financial culture in Nigeria’s financial ecosystem.

Some of the challenges identified by the EVC, include, the inadequacy of both wireless and fibre connectivity infrastructure.

He expressed confidence that more citizens will embrace the digital financial culture when they have access to telecom services in the distant, isolated, unserved and underserved communities where they dwell.

Danbatta reiterated the Commissions determination to achieve 80 per cent level of financial inclusion in four years, with increased investment in both fixed and wireless infrastructure.

The NCC, he disclosed has licensed the infrastructure companies (Infracos), which are to provide the fibre from landing ports to the hinterland of the country, with a key focus in providing broadband connectivity across the 774 local government areas in the country.

“There would be further actions to enable Infracos to commence operations as the commission recognises that fibre is the long-term solution to the volume of transactions in the financial services sector,” he stated.

Danbatta urged stakeholders in the digital finance sector to develop and adopt tech solutions capable of protecting consumers from financial losses

He also reiterated that the commission would soon establish telecom consumer assistance, resolution and enquiries (TELCARE) desks at strategic locations across the country to provide information to telecom consumers.

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