NFW 2022: Financial literacy, crucial to closing financial exclusion gap – CEO, 9PSB

9 Payment Service Bank (9PSB), Nigeria’s foremost digital payment service bank
focused on financial inclusion has re-affirmed the significance of financial literacy
as a solution to closing Nigeria’s financial exclusion gap and ensuring targeted
Nigerians become aware and participate in the formal financial system.

Speaking during the masterclass session on ‘’Environment, Social, Governance &
Risk Management for the Fintech Ecosystem – A Focus on Fintech and Financial
Inclusion’’ at the Nigeria Fintech Week 2022 Conference, the Chief Executive
Officer and Managing Director of 9 Payment Service Bank (9PSB), Branka
Mracajac reiterated the need to prioritize financial literacy in order for financial
inclusion to happen.

‘’We take pride in educating the financially excluded and the unbanked, letting
them know why they should be part of the formal financial ecosystem. Financial
inclusion is not just about opening a bank account, but it is about individuals and
businesses having access to useful, affordable financial services”, Mracajac
remarked.

In addition, she said, “at 9PSB, we are building the bridge between those who are
financially excluded and financial institutions, including the deposit money banks,
by providing access, collecting data and educating the financially excluded.  Our
bank is eager for all Nigerians to access financial solutions. We are open to
partnerships with financial service providers and banks and deliberately seeking
out and providing opportunities for students and youths to learn.”

Other Speakers at the masterclass session include Partner, Banwo & Ighodalo,
Ayodele Adeyemi-Faboya; CEO, Branch International, Dayo Ademola; Partner,
Udo Udoma & Belo-Osagie, Joseph Eimunjeze; and Financial Sector Lead, Foreign,
Commonwealth and Development Office (FCDO), Bola Karimu who made various
submissions with regards to the Fintech Ecosystem.
The Nigeria Fintech Week is the biggest industry event in Africa which births key
innovations, strategic partnerships, and ecosystem transformations. It has been
revolutionary in galvanizing and building the Fintech industry across Africa,
stimulating indigenous creativity to solve Africa’s tech challenges, removing cross-
border barriers to FinTech operations and fostering collaboration amongst
stakeholders. This year’s conference is themed: “Navigating the Next Normal –
Sustainable Impacts in Fintech, E-Government and Emerging Technologies”.