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Poor financial literacy is another. It is only when the vast majority of the Nigerian population is financially literate that they can participate in… - Sarah Alade
" "Poor financial literacy is another. It is only when the vast majority of the Nigerian population is financially literate that they can participate in the formal financial system; the reverse is the case.
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About Sarah Alade
Sarah Omotunde Alade is a Nigerian economist. She was acting governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi. She was appointed to the post by president Goodluck Jonathan on 20 February 2014. She held this position until the appointment of Godwin Emefiele in June 2014.
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Sarah Omotunde Alade
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Additional quotes by Sarah Alade
Financial illiteracy results in poor financial inclusion. Non-financial inclusion becomes a threat to the survival of the Nigerian financial sector as most adults and young Nigerians are financially excluded from the formal financial sector. A high percentage of adult Nigerians don’t have bank accounts, and this in the long run becomes a big headache for central banking.
The future of the Nigerian economy is very bright. The Economic Growth and Recovery Plan (ERRP) by the Federal Government with other complementary policies are set to propel the Nigerian economy out of the recession and move the economy forward. The broad government strategy of infrastructure development, structural reforms and investment in social safety nets are policies that will position the economy to a more inclusive and diversified growth.
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