News summary:

• The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has launched the SabiMONI e-Learning Platform, a digital portal aiming to enhance financial literacy.
• The platform will serve as a key information source for learners and researchers, and will enable individuals to become Certified Financial Literacy Trainers.
• This initiative is part of the Central Bank’s efforts to boost financial education and achieve its goal of 94% financial inclusion by 2024.

ABUJA, NIGERIA – In a significant step towards promoting Financial literacy in Nigeria, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has launched the SabiMONI e-Learning Platform.

The SabiMONI e-Learning Platform is a fully digital national e-learning portal designed to provide a comprehensive knowledge base for Financial Literacy. The innovative platform aims to serve as a repository of information for both learners and researchers, thereby bridging the gap in financial knowledge and understanding.

In his remarks during the launch, Emefiele noted the potential of the platform to create a conducive environment for financial learning. “The initiative will provide individuals with the opportunity to be trained and become Certified Financial Literacy Trainers through self-service,” he said. This move is expected to support the central bank’s efforts to increase the number of experts that can drive financial education in Nigeria and beyond.

Emefiele further stated that financial literacy remains one of the key drivers of financial inclusion and is a prerequisite for greater financial stability, economic growth, and development. He pointed out that the absence of or low levels of financial literacy is a significant impediment to financial inclusion.

The launch of the SabiMONI e-Learning Platform is part of a larger effort by the CBN to enhance financial literacy in the country. The central bank has set a target of achieving 94 percent financial inclusion by the end of January 2024. The SabiMONI platform is seen as a critical tool in attaining this ambitious goal.

The CBN Governor concluded his remarks by expressing hope that the SabiMONI e-Learning Platform will boost consumer confidence in the uptake and utilization of digital financial services, thereby contributing to the stability of the financial system in Nigeria.

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