Mercy Corps, Taj Bank Target 90,000 Households in Renewed Financial Inclusion Drive in North-East

James Emejo in Abuja

Humanitarian organisation, Mercy Corps have signed a Memorandum of Understanding (MoU) with TAJ Bank to reduce the high rate of financial exclusion in the North-eastern part of the country.

Speaking at the ceremony held over the weekend in Abuja, Country Director of the humanitarian organisation, Mr. Ndubisi Anyanwu said the partnership with the bank had become inevitable given the latter’s frontline stance in promoting non -interest financial services which is key to reducing the high rate of financial exclusion in the North-East.

He said, “We hope that our partnership with TAJ bank will help address the financial needs of the critical demographics youths, women, rural communities and micro businesses in the region and also foster sustainable growth and economic prosperity of the Nigeria North East.

“According to the 2020 Access to Financial Services Survey, 50 per cent of the people in Northeast Nigeria are financially excluded, of which 80 per cent live in rural areas.”

Anyanwu said, Mercy Corps has played a key role in shaping the financial

Managing Director, TAJ Bank, Mr. Hamid Joda, described the partnership as a worth-while effort which would serve as a model for other institutions to emulate.

He said the agreement will explore ways of driving financial inclusion in line with the mandate of the CBN to address the exclusion rate in order to reduce poverty and increase employment in the country.