NowNow, a fintech company, has collaborated with the Lagos Business School’s Sustainable Inclusive Digital Financial Services to start a financial education and literacy programme aimed at driving the growth of financial inclusion in the nation.
According to the organisation, NowNow will utilise SIDFS’s data, library content, and resources to provide financial and digital literacy tools for its customers to ensure smart financial planning.
The fintech firm disclosed that most of its Nigerian customers have never had a bank account.
In a statement, the Partnership Director of NowNow Digital Services, Lekan Akinjide, said, “We strongly believe that financial inclusion should be complemented by financial education.
“In this regard, we are excited to partner with the Sustainable and Inclusive Digital Financial Services of the Lagos Business School to provide financial literacy directly to Nigerians. Our partnerships with SIDFS is critical to moving the financial inclusion needle to ensure citizens have the necessary knowledge and skills to use financial services.”
The Programme Lead at SIDFS, Olayinka David-West, added, “Since 2016, LBS’ Sustainable and Inclusive Digital Financial Services has supported the financial services ecosystem with rich evidence-based insights, particularly about women, youths, and rural dwellers, who are the most excluded groups.
“Research shows that financial literacy is a driver of financial inclusion and providing financial education can produce outstanding results in the quest to integrate excluded people into the formal financial system. We are excited to work with NowNow to improve financial literacy among Nigeria’s most excluded demography and look forward to the impact and outcome of our collective efforts.”
According to LBS, it launched the SIDFS project in 2015/2016 to engage in research and advocacy projects with the goal of creating an inclusive ecosystem for financial services and understanding. It added that the SIDFS supports the development and promotion of sustainable solutions to the nation’s financial inclusion challenges and help more Nigerians access financial services.