Economy
Governor Sani To Open 3m Bank Accounts For Unbanked Kaduna Residents
Governor Sani To Open 3m Bank Accounts For Unbanked Kaduna Residents
Governor Sani to open 3m bank accounts for unbanked Kaduna residents. Uba Sani, governor of Kaduna state, says he will open 3 million bank accounts for unbanked residents in 2025, to lift millions out of poverty through aggressive financial inclusion policies.
Sani spoke at the Kaduna Economic and Financial Inclusion Summit (KEFIS 2025), themed ‘Expanding financial success for sustainable development,’ on Wednesday.
The governor said over 2.5 million accounts have been opened, and nearly seven million citizens have registered for national identification numbers (NIN) to facilitate financial access.
“True financial inclusion is about granting individuals and communities the means to participate meaningfully in the economy, break the cycle of poverty, and elevate their quality of life,” he said.
Sani explained that Kaduna’s rural population, which makes up 70 to 75 percent of the unbanked, is at the centre of the state’s financial inclusion drive.
“About 3.5 million people in Kaduna were outside the financial system as of 2023,” he noted.
‘“This exclusion hindered economic growth and left many vulnerable groups disenfranchised from the benefits of modern financial systems.”
As former chairman of the senate committee on banking and financial institutions, Sani recounted sponsoring the Banking and Other Financial Institutions Act (BOFIA) 2020, which brought fintechs under Central Bank of Nigeria (CBN) regulation, enabling digital financial services to reach underserved areas.
“A lot has happened since fintechs came under the CBN’s regulatory oversight. They are now reaching people formerly outside the financial system,” he said.
Sani also highlighted how fintechs have enabled access to mobile banking, credit, and donor programmes.
‘OVER N18BN SENT TO RESIDENTS’ ACCOUNTS’
Sani said his administration has institutionalised financial inclusion through the Kaduna state financial inclusion executive order, forming a state committee, and implementing targeted interventions.
He said over N18 billion was channelled into accounts via direct cash transfers and input distributions through agencies like KADEDA, KADSIPA, and the planning and budget commission.
“The signing of the Financial Inclusion Order in 2023 marked a significant moment in our journey toward economic empowerment and social equity,” the governor said.
He further explained that the policy saw a 19 percent increase in financially served adults, rising from 45 percent in 2022 to 64 percent in 2024, with about 9 percent new banked population and 10 percent accessing other formal financial services.
Sani noted that Kaduna’s inclusion strategy actively supports micro, small, and medium enterprises (MSMEs), critical to job creation.
“We are fostering a vibrant entrepreneurial ecosystem where MSMEs can grow, create employment opportunities, and contribute to the economy of Kaduna State,” he said.
The governor said his policies have yielded a visible economic impact, reducing poverty rates and income inequality.
Kaduna State Government
“In Kaduna State, we believe in a comprehensive approach to tackling insecurity. Financial inclusion is addressing the root causes of insecurity, unemployment and inequality,” he added.
The governor credited partnerships with banks like United Bank for Africa (UBA), Jaiz Bank, Zenith Bank, and Fidelity Bank, fintechs like Moniepoint and Momo, and global development partners like the Gates Foundation for pivotal progress, which he said is streamlining NIN enrollment and supporting digital payment systems.
He said Kaduna has been selected by the office of the vice-president as a pilot state for a national financial inclusion initiative, under which the state will allocate 5,000 hectares for an in-grower scheme, offering input support and product-based repayments to rural farmers.
“This approach is tailored to empower rural communities and integrate them into the formal financial system,” he explained.
Sani added that he recently received an appointment to the Presidential Committee on Economic and Financial Inclusion (PreCEFI) Governing Board, representing northern Nigeria, which acknowledges Kaduna’s leadership in financial empowerment.
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
Eid-el-Fitr: President Tinubu Felicitates Muslims, Urges Renewed Unity, Patriotism
Eid-el-Fitr: President Tinubu felicitates Muslims, urges renewed unity, patriotism. Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan.
The president urged them to renew commitment to national unity, peaceful coexistence, and service to humanity as they celebrate the festival across the country on Friday.
This is contained in a statement issued by presidential spokesperson, Bayo Onanuga, on Thursday in Abuja.
Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan, noting that the holy month teaches discipline, sacrifice, compassion, and devotion to God and humanity.
He said: “We have a lot to draw from the noble lessons of Ramadan, especially at a time like this.
“We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period.”
The president emphasised the need for Nigerians to remain united across religious and ethnic lines, stressing that national cohesion remains vital for sustainable peace and development.
He urged Muslims to extend acts of kindness and charity to the less privileged, irrespective of religious or ethnic background, in line with the enduring values of Islam.
Mr Tinubu noted that such gestures would strengthen social bonds, promote inclusiveness, and reinforce the spirit of brotherhood that defines the Nigerian society.
The president also called on religious leaders to use the occasion to offer prayers for peace, stability, and economic prosperity across the country.
Tinubu
He expressed optimism that with collective efforts, Nigeria would overcome its challenges and achieve lasting progress for the benefit of all citizens.
Mr Tinubu wished Muslims a joyous celebration, praying that the blessings of Ramadan would bring renewed hope, strength, and guidance to individuals, families, and the nation.
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