• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

CBN to advance non-interest development finance

Damilare Famuyiwa by Damilare Famuyiwa
November 9, 2018
in Business News, Politics
CBN, Key lending rate, CBN to boost creative industry with N22 billion , CBN increases LDR to 65%, sets December deadline, External reserves drop by $3.2 billion in Q3’19 , Banks' loans to Oil and Gas, Power, other sectors drop by N411.8 billion 
Share on FacebookShare on TwitterShare on Linkedin

Governor Godwin Emefiele of the Central Bank of Nigeria (CBN), has said the apex bank is working on increasing financial inclusion through a non-interest development finance.

Emefiele made this known while delivering a keynote address at the 10th-anniversary conference of Enhancing Financial Innovation and Access (EFInA) in Lagos.

“Already, we are working towards the creation of a non-interest window for the development financing interventions. The interest-free window will assimilate a large section of the population excluded due to their aversion for interest and interest-based products, into the financial system.” Emefiele said.

The governor, who was represented by Nwanisobi Osita, Deputy Director, Development Finance Department of the CBN said the bank had set up the framework for the establishment of Payment Service Banks.

RelatedStories

CBN, forex

BREAKING: Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025

“Also the recently launched the framework for the establishment of payment service banks to facilitate and enhance digital payments in collaboration with micro small and medium enterprises,” he said.

According to Emefiele, the bank was already working on the implementation of the MSME development fund, which will bring more people into the financial banking fold.

The CBN governor announced that the CBN has set a 2020 target to achieve 80 percent financial inclusion throughout Nigeria, stating that the southwest region of the country had crossed that threshold in 2018, with 82 percent inclusion.

Emefiele said the bank is working with telecommunications companies to drive financial inclusion in the country, especially in the northeast and northwest, where the numbers are still below 40 percent.

Nairametrics had reported that recent data suggested that the CBN has been lagging in its drive to achieve 80% financial inclusion in Nigeria.

However, in order to achieve its objectives, the CBN had introduced several measures including a revision of the Microfinance Banking regulation, the introduction of Agent Banking, Tiered Know Your Customer requirements, and Mobile Money Operations. All these measures appear not to have achieved its desired outcome.


Follow us for Breaking News and Market Intelligence.
Tags: CBNfinancial inclusionGovernor Godwin Emefiele
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

CBN, forex
Breaking News

BREAKING: Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex
Financial Services

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025
CBN, forex
Financial Services

Nigeria’s FDI drops by 19% to $250 million in Q1 2025 – CBN 

June 27, 2025
CBN Governor Yemi Cardoso to be honoured at Nairametrics Capital Market Awards for monetary policy reforms and banking sector recapitalization 
Financial Services

Focus on ‘African-led, African-owned’ growth, digital transformation – Cardoso tells African leaders at Afreximbank AGM 

June 25, 2025
Naira , dollar, exchange rate
Currencies

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023
Financial Services

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025
Next Post
Nigerian-owned shops reopen in Ghana after weeks of forced shut-down

Nigerian-owned shops reopen in Ghana after weeks of forced shut-down

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • World Bank Appoints Mathew Verghis as Country Director for Nigeria 
  • 10 African Central Banks exploring digital currencies in 2025 
  • Polo Luxury strengthens global partnership at 2025 Novelty showcase 

Follow us on social media:

Recent News

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

July 4, 2025
10 African Central Banks exploring digital currencies in 2025 

10 African Central Banks exploring digital currencies in 2025 

July 4, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics