As part of the strategy to achieve the new Financial Inclusion target of 95% adults inclusiveness in the Nigerian financial system by year 2024. The CBN mulls account opening target of 200 before end on 2019 for National Youth Service Corps (NYSC) members serving in banks and local government areas.
This was disclosed in the recently release quarterly publication of Financial Inclusion newsletter. According to the publication:
Achieving the targeted numbers in 2019 and 2020 according to the Roadmap will leverage on posting of National Youth Service Corps members to branches of Deposit Money Banks, Microfinance Banks and Local Government areas. Each youth corps member would be expected to bring in 200 new accounts by end of 2019 to reach the goal.
The new Financial Inclusion roadmap suggested that a total of 16.5 million new Nigerian adults with special focus on Women, Rural areas, Northern Nigeria and MSMES are to be enrolled in the banking system by 2020. This figure represent 8.3 million adults by end of year 2019 and additional 8.2 million by end of 2020. And the serving NYSC members are to be used to drive the figures.
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Specifically, 4 youth corps members are to be posted to the 4,752 branches of all the banks in Nigeria. The 898 Microfinance bank branches are to get 2 youth corps members each while 4 youth corps members are to be deployed to each of the 774 local government areas in Nigeria for the purpose.
Each of the corps members so deployed will be expected to open 200 new account by end of 2019 to make up for the achievement of the targeted 8.3 million new bank accounts by 2019 end.