The Governor of Kaduna State, Senator Uba Sani, has expressed concern over the financial exclusion of over 70% of Nigerians. Speaking at the unveiling of eTranzact’s new products in Abuja, the governor highlighted the urgent need to address the issue, particularly in northern Nigeria, where the problem is most severe.
In Kaduna State alone, Sani revealed that over 2.2 million residents remain financially excluded. He attributed this to the limited presence of banking infrastructure, saying, “The few branches of national banks in Kaduna do not encourage a good banking habit.”
Reflecting on his efforts to promote financial inclusion, the governor shared, “When I got into office, my first assignment was to sign an executive order for financial inclusiveness. This was aimed at triggering social interventions to reduce financial exclusion.”
Sani, who previously sponsored the Banks and Other Financial Institutions Act (BOFIA) in the Senate, regretted that two years after its enactment, the number of unbanked Nigerians has continued to rise. He called on fellow governors to collaborate with recognized payment platforms like eTranzact to bridge the gap.
“I encourage other state governors to synergize with platforms like eTranzact to attract more bankable people across the country,” he urged.
In his remarks, the General Manager of eTranzact, Malam Abubakar Yahaya Achimugu, highlighted the company’s 25 years of operation and its commitment to advancing financial inclusion through innovative products.
“eTranzact has introduced several products such as Pocket Moni, Credo, SwitchIT, and Billa. Our integrated payment platform is at the forefront of digitization, setting a new standard for financial transactions,” Achimugu stated.
He further emphasized the platform’s partnerships with private and public sectors, including collaborations with state governments like Kaduna and Lagos, ministries, and agencies such as the Joint Admissions and Matriculation Board (JAMB) and Micro, Small, and Medium Enterprises (MSMEs).
According to Achimugu, eTranzact’s products have demonstrated efficiency and effectiveness in driving digital transformation and fostering financial inclusiveness. He reiterated the company’s mission to support efforts to bank the unbanked and improve access to financial services nationwide.
As Nigeria continues to grapple with the challenge of financial exclusion, platforms like eTranzact and policies championed by leaders such as Governor Uba Sani are seen as critical in bridging the gap and fostering economic growth.
