Vice President Prof. Yemi Osinbajo praised Airtel for the launch of its payment services bank SmartCash (PSB) aimed at bridging the financial inclusion gap in rural areas.
Osinbajo was highly praised while launching Airtel SmartCash PSB in Victoria Island, Lagos recently.
The Vice President, who was represented by Special Advisor to President Muhammadu Buhari on Social Investments, Maryam Uwais, said the launch of SmartCash PSB, a subsidiary of Airtel Africa, could not have come at a better time. .
He said Nigeria’s fintech industry has continued to visibly demonstrate the progress, innovation and creativity of exceptional minds, quickly becoming a model for other nations.
“I am thrilled to join telecom operators in celebrating a collective goal to leverage the rapidly evolving fintech space to catalyze empowerment and economic growth,” he said. declared.
Osinbajo continued that the innovation will ensure that no Nigerian is left behind, especially those in underserved areas.
“I am here to applaud a laudable leap, which aims to explore vast opportunities and possibilities in the digital age for the benefit of the majority of our fellow citizens.
“The Federal Government of Nigeria has also remained committed to ensuring that all citizens have access to financial services and credit facilities, in every nook and corner of the country,” he said.
Similarly, Governor Babajide Sanwo-Olu of Lagos State, who also praised the telecom company, said the PSB SmartCash will further deepen financial inclusion efforts.
Sanwo-Olu, who was also represented by the State Commissioner for Finance, Mr. Rabiu Olowo, said that the PSB license, which was approved by the Central Bank of Nigeria (CBN), was intended only for people living in remote areas, the underbanked and many Nigerians who reside in Lagos.
“I’m sure we wouldn’t be surprised if countless Nigerians don’t have bank accounts because they think banks are too far away or for the rich and educated.
“Others think that the little they earn is not enough to save in the bank. I therefore commend the CBN for coming up with this initiative which provides a platform that meets the financial needs of the underserved and underbanked population in Nigeria,” he said.
Noting that the structure that had been put in place by Airtel was simple, cost effective and would absolutely have an impact in bridging the financial divide, the Governor said he had no doubt that Airtel would meet the expectations of regulators and Nigerians alike. ordinary. who would see innovation as life changing.
Airtel Africa Managing Director, Mr. Segun Ogunsanya, said Airtel SmartCash innovation was their contribution to reducing the financial gap in the country.
“The goal of innovation is also to bring millions of people in rural and urban areas to the financial community by transforming their lives.
“The SmartCash is cost effective and your money is safe with us, there would be no problem from hackers.
“The innovation launch is a confirmation of our commitment to touch lives,” he said.
Ogunsanya said the telecom company also plans to bring 55% of the underbanked into the financial system.
He said the telephone company would work with the CBN to ensure that no Nigerian is left out of the financial system.
Furthermore, the Managing Director of Airtel SmartCash PSB, Mr. Muyiwa Ebitanmi, said their goal is to deepen financial inclusion by removing barriers and improving accessibility in rural areas of Nigeria.
“Today is indeed a special day that will mark the transformation of financial services,” he said.