We must leverage technology in capital market for financial inclusion – SEC | The Guardian Nigeria News - Nigeria and World News

The Director-General of the commission, Mr Lamido Yuguda, made the call in a keynote address at the Capital Market Correspondents Association of Nigeria 2021 Annual Workshop.Yuguda, represented by Mr Temidayo Obisan, Executive Commissioner Operations, SEC, noted the Nigerian Communication Commission reported that there were over 191 million and 140 million active mobile subscribers and active data subscribers, respectively, in Nigeria as at October.

“Many fund managers also use technology to offer investment products to investors seamlessly,” he said. “The impact of providing these MSMEs with access to formal financial services would be significant in terms of contribution to GDP growth, employment and economic prosperity,” he said. “These statistics have shown that financial inclusion initiatives should be primarily targeted at women, rural residents, less educated, younger generation and those that do not work in the formal sector,” he said.

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