By Dr. Nafisat Makinde
The Federal Government has reaffirmed its commitment to expanding financial inclusion in Nigeria through digital identity and pro-growth regulation, promising safer and easier access to financial services for millions of citizens.
Speaking at Semafor’s Next 3 Billion Tour held at the Transcorp Hilton, Abuja, the Minister of State for Finance, Dr. Doris Uzoka-Anite, highlighted the critical role of the National Identification Number (NIN) and Bank Verification Number (BVN) in onboarding Nigerians into the financial system. “Trust is the foundation of inclusion. With NIN and BVN strengthening identity verification, more Nigerians can be safely onboarded into the financial system,” she said.
Dr. Uzoka-Anite emphasized the progress under President Bola Ahmed Tinubu’s Renewed Hope Agenda, citing agent banking, mobile money platforms, and fintech solutions such as Moniepoint, OPAY, and PalmPay as key drivers of inclusion. “Mobile-first solutions and nationwide agent networks are lowering barriers to access. People can transact, save, and receive payments in their communities without heavy brick-and-mortar infrastructure,” she added.
The Minister also discussed consumer credit reforms aimed at helping Nigerians not only spend but also earn and build assets. “When people can save securely within the financial system instead of keeping cash at home that is vulnerable to theft, fire, or flooding, they protect their income and strengthen long-term stability,” she said.
Acknowledging the Central Bank of Nigeria and ecosystem partners for supporting agent banking nationwide, Dr. Uzoka-Anite noted remaining challenges around power, connectivity, and skills. She pledged continued collaboration with ministries, regulators, states, and the private sector to close these gaps. “Under the Renewed Hope Agenda, we will keep linking policy to the tools people actually use on their phones every day to work, trade, and save,” she said.
The event, produced by Semafor in partnership with the Bill and Melinda Gates Foundation, brought together policymakers, business leaders, innovators, and civil society to translate global research on inclusion and connectivity into actionable strategies for Nigeria. The Next 3 Billion Tour leverages insights from the Global Findex 2025 report and the Global Digital Connectivity Tracker to guide inclusive growth initiatives across Africa and the Middle East.
