CC Image courtesy of Jrobin08.
The Central Bank of Nigeria (CBN) has announced it will be deploying geospatial mapping to identify access points to capture unbanked persons, as part of measures it is taking to make banking accessible to more Nigerians.
CBN governor Sanusi Lamido Sanusi stated this in Lagos while inaugurating the Geospatial Mapping of Financial Institutions in conjunction with the Bill and Melinda Gates Foundation.
With the aid of the technology, the CBN governor said the apex bank would be able to gather information on the financial sector’s access points, which he said would be used in making financial services accessible to more Nigerians.
“This mapping technology will be able to provide information of where access points are. This method is in line with our cashless policy and the Nigeria Financial Inclusion Strategy (NFIS),” he said.
“Financial inclusion efforts rely on data-based evidence to track the progress of the NFIS. This new technology will provide information about access points within a five kilometre radius.”
He revealed that the mapping will identify financial access points such as places, markets, motorparks, PoS (point of sale) terminals and postal agencies.
According to Sanusi, in order for Nigeria to achieve the 2020 financial inclusion target, the nation needs collaborations between stakeholders in the finance sector.
He said: “Some of such initiatives are the development of agent banking guidelines and the Know-Your-Customer (KYC) requirement to encourage financial institutions to reach out to underserved segments.
“Other initiatives include the development of the Consumer Protection Framework under a newly set up Consumer Protection Department and increase campaign to promote financial literacy.”
