CBN, NCC cooperation crucial in deepening financial inclusion – Queen of Netherlands

Queen Maxima Cerruti of Netherlands has said the cooperation of the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) is very crucial in deepening financial inclusion in the country.

The queen disclosed this in Abuja yesterday when she visited the headquarters of the NCC in continuation of her visit to Nigeria. 

“The cooperation between the Central Bank of Nigeria and the NCC is very crucial in deepening financial inclusion in Nigeria. You must all work together to address the problem of infrastructure, the problem of connectivity so that more Nigerians will be served financially”, she said. 

The queen, who is the United Nations Secretary General’s Special Advocate for Inclusive Finance for Development, also urged the CBN and the NCC to increase the number of licensed agents in the fintech sector to ensure that about 52% financially excluded Nigerians is reduced.

Earlier in his address, the Executive Vice Chairman of NCC, Prof Umar Garba Danbatta, said decisive steps needed to be taken to address financial inclusion in Nigeria.

Prof Danbatta who said about 40.1 million Nigerians are financially excluded, stated that the NCC was committed to solving the problem.

“Based on this arrangement, the NCC will then issue a letter of no objection to MNOs upon issuance of a MMO license by the CBN to enable the MMO effectively commence operations in Nigeria”, he said.

The Queen also met with leadership of the Central Bank of Nigeria and the Development Bank of Nigeria (DBN) where she promised support to help Nigeria drive financial inclusion across the country. 


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