Kaduna State Governor, Uba Sani, has pledged that the state will lift millions out of poverty through ambitious financial inclusion policies, with the goal of opening three million new bank accounts by the end of 2025.
The Governor made this commitment while addressing the Kaduna Economic and Financial Inclusion Summit (KEFIS 2025) on Wednesday. The summit’s theme was “Expanding Financial Access for Sustainable Development”.
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Governor Sani revealed that over 2.5 million accounts have already been opened, and nearly seven million citizens have registered for National Identification Numbers (NIN) to facilitate access to financial services.
“Genuine financial inclusion is about providing individuals and communities with the means to participate meaningfully in the economy, break the cycle of poverty, and improve their quality of life,” the Governor told stakeholders, including representatives of the Vice President and development partners.
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According to him, Kaduna’s rural population, which constitutes 70 to 75 per cent of the unbanked, is central to the state’s inclusion drive.
“Approximately 3.5 million people in Kaduna were outside the financial system as of 2023,” he disclosed.
“This exclusion hindered economic growth and left many vulnerable groups disenfranchised from the benefits of modern financial systems,” he added.
Recalling his tenure as the former chairman of the Senate Committee on Banking and Financial Institutions, Governor Sani mentioned that he sponsored the Banking and Other Financial Institutions Act (BOFIA) 2020.
Governor Uba Sani pointed out that this legislation brought financial technology companies (fintechs) under the regulation of the Central Bank of Nigeria, enabling digital financial services to reach underserved areas.
“A significant amount has happened since fintechs came under the CBN’s regulatory oversight. They are now reaching people who were previously outside the financial system,” he said, highlighting how they have facilitated access to mobile banking, credit, and donor programmes.
According to the Governor, his administration has also formalised financial inclusion through the Kaduna State Financial Inclusion Executive Order, leading to the establishment of a state committee and targeted interventions.
He stated that over £11.4 million (N18 billion) was channelled into accounts through direct cash transfers and the distribution of inputs by agencies such as KADEDA, KADSIPA, and the Planning and Budget Commission.
“The signing of the Financial Inclusion Order in 2023 marked a significant moment in our journey towards economic empowerment and social equity,” he said.
This policy resulted in a 19 per cent increase in financially served adults, rising from 45 per cent in 2022 to 64 per cent in 2024, with approximately 9 per cent representing newly banked individuals and 10 per cent accessing other formal financial services.
The Governor added that Kaduna’s inclusion strategy also supports Micro, Small, and Medium Enterprises (MSMEs), which are crucial for 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, adding that the economic impact is already evident, with poverty rates and income inequality decreasing. Governor Uba Sani disclosed that access to financial services and credit “has lifted many people out of poverty.”
“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 pointed out.
The Governor noted that partnerships with banks (UBA, Jaiz, Zenith, Fidelity), fintechs (Moniepoint, Momo, TeasyPay, E-Tranzact), and global development partners like the Gates Foundation have been vital.
He explained that the foundation is streamlining NIN enrolment and supporting digital payment systems.
He highlighted that, in recognition of its progress, Kaduna has been selected as a pilot state by the Office of the Vice President for a national financial inclusion initiative. As part of this, Kaduna will allocate 5,000 hectares for an in-grower scheme, supporting rural farmers through input assistance and product-based repayments.
“This approach is specifically designed to empower rural communities and integrate them into the formal financial system,” he explained.
The Governor also disclosed his recent appointment to the Governing Board of the Presidential Committee on Economic and Financial Inclusion (PreCEFI), representing Northern Nigeria – a recognition of Kaduna’s leading role in financial empowerment.
