CBN Launches “SabiMoni” e-Learning Platform to Boost Financial Inclusion
"SabiMoni": CBN's New Initiative to Foster Financial Inclusion in Nigeria
ABUJA – The Central Bank of Nigeria (CBN) has taken a significant step towards enhancing financial inclusion in the country with the launch of its innovative Financial Literacy e-Learning Platform, “SabiMoni.” The platform aims to equip individuals with essential financial knowledge and empower them to make informed decisions.
During the official launch event held in Abuja, CBN Governor Mr. Godwin Emefiele expressed the apex bank’s commitment to achieving its ambitious target of 95 percent financial inclusion by the following year. Emefiele believes that “SabiMoni” will play a crucial role in driving this mission forward, as numerous Nigerians are expected to embrace the platform.
“SabiMoni” is designed to bridge the gap in financial literacy, providing users with accessible and interactive e-learning modules. The platform covers a wide range of topics, including budgeting, saving, investment, banking services, and entrepreneurship. With its user-friendly interface and engaging content, “SabiMoni” aims to empower individuals across various demographics to navigate the complexities of personal finance successfully.
Addressing concerns surrounding the sharing of Unstructured Supplementary Service Data (USSD) income between Deposit Money Banks (DMBs) and telecommunication companies, Emefiele assured stakeholders that the CBN would expedite efforts to resolve the ongoing dispute. He emphasized the importance of USSD as a critical component of financial inclusion, stressing that its services must not be disrupted due to disagreements over income distribution.
USSD technology has played a pivotal role in expanding financial services to underserved populations, allowing individuals to access banking services, make transactions, and manage their finances through their mobile phones. Recognizing its potential, Emefiele expressed the CBN’s commitment to ensuring a fair and equitable resolution to the issue, facilitating continued collaboration between banks and telecommunication companies for the benefit of all Nigerians.
The launch of “SabiMoni” marks a significant milestone in the CBN’s pursuit of financial inclusion. By leveraging digital technology and enhancing financial literacy, the apex bank aims to create a financially empowered society, where individuals can actively participate in the economy and harness the opportunities offered by the digital age. With the “SabiMoni” e-Learning Platform and the CBN’s continued efforts, Nigeria is poised to make substantial progress in its financial inclusion journey.