CBN, RUFIN To Promote Financial Inclusion In Rural Areas
Mrs Amina Habib, Senior Manager, Development Finance Department, Central Bank of Nigeria (CBN) has said the apex bank would promote non-interest micro finance to drive financial inclusion in rural areas. Habib, made this known at the Rural Finance Institution Building Programme (RUFIN) 10th Supervision Meeting in Abuja, yesterday. She identified the North-West and North-East zones as areas with the highest rate of financial exclusion. The Tide source reports that RUFIN is being implemented in 12 states across the six geo-political zones, with two from each zone.
The programme enjoys financial assistance from the International Fund for Agricultural Development (IFAD), a UN agency and the Federal Government. The programme to be implemented over a seven-year period, specifically targets marginalised groups such as women, young people and those with physical disabilities.The objective of the programme was to strengthen micro finance institutions and establish linkages between them and formal financial institutions....
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