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BACKGROUND
• EFInA – Enhancing Financial Innovation & Access is an
independent, professional non-profit,
non- governmental organisation
conceived and funded by DFID and Ford Foundation.
• EFInA was set up in late 2007 and its purpose is to
promote pro-poor financial sector development in Nigeria.
• EFInA distinguishes itself from other financial
sector programs in Nigeria in three ways
Firstly, its focus is on broad-based and diversified access to
financial services
Secondly, whilst most other projects have focused on particular
retail institutions, EFInA will engage with a broad set of actors at all
levels of the market.
Thirdly, EFInA will target key infrastructural components of the
market, especially information, policy and regulatory development.
PROGRAMME DESIGN:
EFInA will work at three levels of the financial market to build its
overall architecture. These include:
- the support level, with an emphasis
on information
- the delivery organisations to
facilitate innovation, capacity development and competition
- the institutional
infrastructure of the market the policies, laws, regulations and norms that
govern market conduct, including working with selected
CBN departments and innovators among financial service
providers.
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