‘Financial inclusion requires grassroots trust’

Achieving genuine financial inclusion in Nigeria requires a deep focus on grassroots trust and community engagement, rather than solely distributing financial products. Olalekan Disu, Divisional Head of Financial Inclusion at eTranzact International Plc, emphasized this point following a large-scale drive using the company’s PocketMoni Business platform in Ogun State.

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Financial inclusion is not just about opening access to financial products, it is about creating opportunities and building trust within communities.

The initiative, conducted in collaboration with the local Zonal Community Development Committee in Obafemi Owode Local Government Area, has successfully onboarded over 1,000 agents. Thousands of PocketMoni terminals have also been deployed across underserved communities, bringing essential financial services closer to residents.

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By empowering local agents and deploying thousands of terminals, we are helping to stimulate economic activity, create livelihoods and make financial services more accessible to people at the grassroots.

Disu explained that empowering local agents and deploying terminals stimulates economic activity and creates livelihoods. "Financial inclusion is not just about opening access to financial products, it is about creating opportunities and building trust within communities," he stated. This approach helps people access services like cash withdrawals, transfers, and bill payments within their neighborhoods, reducing the need for long-distance travel.

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Before PocketMoni came, our people had to travel far for simple withdrawals and bill payments. Today, those services are available within our communities through people we know and trust.

The Chairman of the Obafemi Owode Zonal CDC, Gboyega Adeleke, commended the initiative, noting that residents no longer face the hurdle of traveling far for basic banking. "Before PocketMoni came, our people had to travel far for simple withdrawals and bill payments. Today, those services are available within our communities through people we know and trust," Adeleke said. eTranzact plans to replicate this community-led model in other South-West regions to address persistent financial access gaps.

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This is development that directly impacts lives, and we commend eTranzact for bringing these opportunities to the grassroots