Governor of the apex Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi has made a case for more financial product innovation that will accommodate women and those with disabilities.
The private Guardian newspaper reported Monday that the CBN boss insisted that the success story of financial inclusion will be incomplete without the participation of women and the physically-challenged persons in the society.
“We live in a society where women do not own land and majority of them are engaged actively in economic activities. How could these women access loans for economic activities with land as collateral when they have none?” the CBN Governor queried in response to questions from journalists in the commercial city of Lagos.
“The handicapped persons, especially those who are visually impaired, still need access to information on products of banks that can improve on their well being since majority of them are also involved in economic activities,” Sanusi said.
He noted that though the financial inclusion drive pioneered by the apex bank since 2008 has been progressive, there were still challenges to be surmounted.
“We still have issues bordering on access to financial services and access to the right type of product. Economic environment is another issue, because you need to earn before you can save. Therefore, overall economic policy and development is involved,” he said.