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Olugbemi. Adeyinka Ogunleye
3 months ago
Overview
Why Digital Financial Inclusion Is Progressing Slowly Among Fulani Herders
Digital financial inclusion for Fulani herders in Nigeria faces challenges due to factors like low financial literacy, limited banking infrastructure, and their nomadic lifestyle. Many herders continue to encounter significant barriers, highlighting the need for customised financial products, mobile banking services, and specialised literacy programmes. KAMAL IBRAHIM writes.
Musa, who manages over 100 cattle, joined a cooperative society three years ago that trained herders on financial inclusion. Today, he uses digital payment platforms to conduct cashless transactions with cattle dealers and veterinarians, as well as to purchase animal feed. “I used to travel to the Bajoga cattle market to collect cash for the cows I sold,” Farouk recalls. “But now, with a bank account and a phone, I receive payments directly from dealers. It’s saved me time, resources, and improved security,” he added. Musa explained that mobile banking has also helped him invest in his herd. “When the Central Bank’s (CBN) cashless policy was implemented about two years ago, I opened a bank account to keep my business going. It was difficult to find cash back then,” he said. “Now, I receive payments for my cattle electronically.”
The benefits of digital financial inclusion extend beyond convenience and security. For Musa, it has enhanced both his life and his business. However, he remains one of the few exceptions among herders. Not all stories are the same, though. In a world where technology connects people instantly and enables digital payments, many Fulani herders remain excluded from digital financial services. Adamu Sulaiman, a herder from Tilden-Fulani in Toro, Bauchi State, doesn’t understand the digital financial system or how it could impact his livelihood. He doesn’t have a bank account, and the nearest bank is about 65 miles away
More: https://leadership.ng/why-digital-financial-inclusion-is-progressing-slowly-among-fulani-herders/
