Hollaport will increase financial inclusion in Nigeria - Bua Executive Director

Alhaji Kabiru Rabiu, the Executive Director, Bua Group, business conglomerate, has urged Nigerians to embrace technology to ease monetary transaction and increase financial inclusion for individuals and businesses in the country. Rabiu made the call at the launch of `Hollaport’, a payment and messaging mobile application on Monday in Lagos. He said that financial inclusion was a major issue in the country, with half of the adult population being “unbanked” and only a fraction of the “banked” using technology in their processes. According to a 2018 survey by Enhancing Financial Innovation and Access (EFInA), about 40.1 million or 41.6 per cent of Nigerian adults are financially excluded, and 48.6 per cent are financially included. The survey also said that 58.4 per cent of Nigerians were financially served. According to Rabiu, this survey shows the large amount of people without access to financial services in the country. “Access to financial services by indivi...