Nigeria: CBN to map all financial access points

Jul 12, 2013

The Central Bank of Nigeria (CBN) has launched on Monday (July 8th) a geographic information system (GIS) mapping all financial access points in Nigeria.

The Central Bank of Nigeria (CBN) has launched on Monday (July 8th) a geographic information system (GIS) mapping all financial access points in Nigeria.

Developed in collaboration with the Bill & Melinda Gates Foundation, the system offers a financial access point map showing every bank branch, microfinance bank or ATM in the country under one data set.

CBN Governor Malam Sanusi Lamido Sanusi said during the launch that the system will help establish areas with poor financial access in order to better assess where to build new bank branches and ATMs in order to improve financial inclusion, the Daily Trust report.

"As we improve the information that we have, we are beginning to address the (financial inclusion) issue. Is it a supply side issue? Is it a demand side issue? Is it a cost issue? A financial literacy and education issue? So as we do that, we begin to improve access," he added.

He concluded saying that the CBN going forward will include PoS terminals mobile phone agents in the system, as "these are all access points for financial inclusion".ADNFCR-2976-ID-801610879-ADNFCR