The high level of Financial Exclusion of small and medium scale business owners in Northern Nigeria has been described as a setback that have stifled economic growth in the region.
The stifling of economic growth is more pronounced especially by those in the rural areas who do not have bank accounts.
This was the focus at a one day advocacy and sensitisation meeting on financial inclusion in Kaduna State.
It is with a view to repositioning Northern Nigeria for economic impact, through financial inclusion.
Northern Nigerian is lagging in many aspects.
One of the concerns is that majority of the small and medium scale business owners in the rural areas do not have bank accounts, which makes it difficult for them to access financial products and services.
This reality has impaired the realisation of the economic potentials in the region.
It is in view of this, that this stakeholders’ engagement on financial inclusion is holding, to reposition Northern Nigeria for economic impact.
Financial inclusion according to the participants, is capable of contributing to poverty alleviation, by bringing financial products and services within reach of small business owners, which in turn can help them manage financial shortfalls.
The take home for participants at this meeting is to educate small scale business owners in their domain, on the benefits of having a bank account, in order to access financial products and services that can help improve their living conditions.