There is a need to engage industry stakeholders to bring on board over 133 million Nigerians without access to financial services.This was the position of insurance experts at the fintech conference themed, ‘Imperative of Fintech in Promoting Financial Inclusion in Nigeria’ held in Lagos. They said there is a nexus among poverty, education and financial inclusion and that the Federal Government would need stakeholders from different sectors of the economy to achieve the goal.
Speaking at the programme, the Managing Director, Tangerine General Insurance, Mayowa Adeduro, said that over 133 million Nigerians were at risk of dying owing to no or little access to financial services.
According to him, the banking sector services have only 50 per cent adult coverage, while the situation is worse in the insurance sector, where the coverage is less than one per cent.
Adeduro said government could only solve the problem, with the adoption of fintech. He explained that there is also a need for fundamental investment in infrastructural development in information technology.
