CENTRAL RANK OF NIGERIA Tava Bene Baye ent Soames Bats PMB.O1 Gani abae 9 ores aces 20" tne, 2019, OFUDIR|DOCIGENM2NS2 u /ROFINANCE BANKS (MEBs) ON TH IINCLUSION TARGETS 1 wl be recalled that the National Financa Inclusion strategy (NFIS) was launchd in October 2012 and revised in 2018 with the major objective of increasing the percentage of aduk: Nigerians who own bank {seeouns and wse formal Franca evies from the baseline igre of 46.3% in 2010 0 80% by 2020. ‘Over te last sit yeas of implementation ofthe strategy, microfinance banks have coribuedsigniiantly towards the realization ofthe sated objective. AS at the end of 2018, 63.2% or 63 milion adult Nigerians tere finely served leaving an incision gap of 36.8% of 36, mili adult Ngeians tat need to be inciaded. Given te short tne tothe end ofthe target dae, thas become expedient forall tkeholdrs to double efforts towards the lization ofthe targeted 60% inelusion rat In a bid o mobilize stakeholders onthe Revised National Financial Inclusion Stategy (NFIS 2.0) and scctleate ogress fotards the achievement of the target, the CBN held a stakeholders forum forall Financial service providers in the six goo-poltial zones in the fst and second quarers of 2019 which was attended by representatives of MF. The objective ofthe Forum was to expose sakholders to the detailed provisions of the Revised Sirsegy (NFIS 20) and thelr expected roleesponsiiities in the eanca frclsion agenda “One of the major resolutions reached at the event was the setting ofa target for each branch of a ‘microfinance bank to acquire 64 new customers per month. This translates to 74 new bank accounts (mencered by new BVN registration) per branch per year. Given the urgency of this task, Its {important to cascade the target to your branches for thir fforaiation and implementation, Consequently, all MFBS are hereby requssed fo implement the above Fesoluon and dsemiate same al thei branches (where appliabl) fo enutecoocenedeffons towards achieving the overarching target of BOY financial incasion by the year 2020. ‘A monthly reportpdateon new customers on-boarded should be submited tothe Director, Other Financial Institations Supervision Desrtment using the allched format and a soft copy sent the officers listed below: For any inquires and feedback please also contact he same persons; ‘Ms. Sophia Abu, soabucbngov.ng; 8037018612 ‘+ Mr. Hilay Ewuto, idesnzor@'sin gone; 08034167600. fe Martins (Mt Director, Other Financial Insitutions Supervision Department