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.

The rate of illiteracy in this country is still high. According to the UNESCO’s information in its last record of 2010, we still have over 53 per cent who are still illiterate in Nigeria. The answer to that question is straightforward: we don’t have enough adult educators in this country. To have enough Adult Educators, it means at every local government, you must have between five and 10 Adult Educators in the various ministries or secretariats. The Adult Educators in this country have not been able to permeate all nooks and crannies of Nigeria, and that is why the level of illiteracy is still there.

Illiteracy, both in words and numbers, is the foundation of financial struggle.

The Global Monitoring Report on Education-for-All (EFA) of 2012, rated Nigeria as one of the two countries; the other being Egypt with the largest number of illiterates in Africa.

A person can be highly educated, professionally successful, and financially illiterate

Nigeria needs to deepen its financial sector as a whole. Deepening the financial sector entails improving financial structures to ensure efficient delivery of financial services to the private sector.

Success in financial inclusion entails reaching these users with products that can significantly improve financial lives.

The challenges are many. Oil price volatility and the unstable global environment are major challenges for Central Banking in Nigeria as they are causing growth challenges and other spill-over effects for the local economy. Central Banking in Nigeria is faced with other enormous challenges such as the size of Nigeria’s informal sector. Globally, developing/emerging economies are characterized by a big informal sector which causes a lot of limitations to Monetary Policy implantation and coverage because a majority of the participants in the sector are not using formal financial services and so cannot be captured formally.

There are 2.7 billion people in the developing world without access to financial services

I am the son of an illiterate father and mother.

High illiteracy rates throughout the continent especially affect the prospects for girls and women.

Someday, not being proficient with computers will be considered a form of illiteracy.

There are more prospects for survival in Nigeria than we think exist in Europe and other places. In the midst of so much wealth and resources we have in this country Nigerians should not become beggarly and only decide to fly out of Nigeria in search of the elusive greener pastures. Many Nigerians are traveling to the developed world to enjoy the development put in place by their governments, but we have refused to develop our own country.

the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer. How can we affect national policy — or even make intelligent decisions in our own lives — if we don’t grasp the underlying issues?