HOW TO BE FINANCIALLY INCLUDED

Financial inclusion is the deliberate effort to make finance available for a better standard of living. The curiosity here is are you financially included or excluded?

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WHY YOU ARE FINANCIALLY EXCLUDED?

The in-depth truth is that 75% of the population in Nigeria are financially excluded, the reasons being outright neglect by the ruling power and finance agencies. Many are financially excluded because of the following reasons:

1. Government instability and failure in their allegiance for the populace.2

2. Inadequate financial inclusion education, agencies, facilitators, and promoters.

3. Lack of grant and loan accessibility.

4. High-interest rate and un-fetched collateral.

5. Absence of financial inclusion promoters and facilitators to create awareness.

6. Neglect on Cooperative Thrift and loan societies, and other Non-governmental organizations, where loan can be accessed.

HOW TO BE FINANCIALLY INCLUDED

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To be included financially, the following steps ought to be thrilled:

1. Identification with financial inclusion agents.

2. Get financial education from the facilitators.

3. Identify with the agencies of financial aid.

4. Become a member of the cooperative thrift and loan society.

5. By the affiliation with the agency and registered cooperative thrift and loan society, the soft loan will be made easy, with a low percent interest.

6. Bank overdraft is also advisable.

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SUGGESTED MEASURES TO TACKLE FINANCIAL EXCLUSION.

1. Encouragement of financial inclusion agencies and promoters by the government.

2. Government grants should be channeled to the financial inclusion agencies and cooperative societies, to ensure it gets to the grass root.

3. Interest on loans should at a considerable percentage.

4. Financial education should be a yardstick measure for loan and grant.

5. There should be a medium between grassroots/rural dwellers and the agency.

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People who are majorly excluded are the rural dwellers and the youth, to this effect the promotion and education should be targeted to the grassroots to encourage even distribution of financial education services and empowerment, which will instigate even development in the society.